Oil caught a three-year high of over $86 per barrel on Thursday inspired by tight supply and a global energy crunch. However, prices reduced as some investors took profits on signs the rally was looking overstretched. Serving to drive the latest gain, a supply report from the U.S. Energy Information Administration on Wednesday conferred crude …
Oil held near the most distinguished level in seven years following an industry report that pointed to another rise in U.S. crude stockpiles. Futures in New York were even close to $83 per barrel in early Asian trading. They rose more than 3% over the past four sessions. People familiar with the figures stated that …
China’s thermal coal prices rose to new record highs on Wednesday as recent floods in key coal-producing province Shanxi worsened a supply crisis, just as further attempts by Beijing to improve power prices increased demand from power generators. China is the world’s biggest coal consumer. It has been fighting with a growing energy crisis brought …
Copper prices advanced to rally towards record highs on Monday as hints of highly tight supply exceeded concern that slowing growth in top consumerĀ ChinaĀ will influence demand. Traders were paying enormous premiums for quickly deliverable copper following stockpiles in the London Metal Exchange’s (LME) warehouse system tumbled to their weakest level in decades. Benchmark LME copper …
Gold fell on Friday morning in Asia but was established for its best week in longer than five months.Ā Drops in the dollar and U.S. Treasury yields also capped the yellow metalās declines even as the U.S. Federal Reserve prepares to start asset tapering. Gold futures trimmed down 0.11% to $1,795.95 by 11:55 PM ET …
Gold declined but losses capped by drops in the dollar Read More »
U.S. stock index futures slid on Monday as rising commodity prices added to inflation concerns, which could cloud the earnings season begun to start with Wall Street banks later this week. Increasing raw material prices, labor deficiencies, and other supply chain bottlenecks have raised worries of elevated prices sinking corporate profit. U.S. oil increased almost …
Futures drop as oil rally fuels inflation concerns Read More »
The cost of shipping within China and the United States has dropped following months of steep rises, as orders for year-end holidays quiet, and a power crunch in the world’s second-biggest economy interrupts the production of goods, new data displays. Though prices are still far costlier than last year, shipping containers’ costs have dropped by …
On Wednesday, the European Union said it would review its power market design and investigate recommendations to modify EU regulation to keep its climate change ambitions on track despite record-high energy prices. Electricity and gas prices in Europe have skyrocketed this year as constrained gas supplies combine with robust demand in economies emerging from the …
Oil prices rose to multi-year highs shortly after a group of the world’s most influential oil producers decided against a significant supply increase. Energy specialists now anticipate crude prices are likely to rise toward $100 per barrel. On Monday, OPEC and its non-OPEC allies, known as OPEC+, announced that they will keep to their existing …
America’s oil and gas industry is fighting tooth and nail to remove or reduce climate regulations in President Joe Biden’s $3.5 trillion Build Back Better program. The API runs sponsored ads on social media and swing Congressional districts to promote the Build Back Better proposal. According to a report issued Thursday by InfluenceMap, a think …
Big Oil is going all-in to resist climate regulations Read More »
OPEC predicts an unlikely winner in the face of an energy revolution away from hydrocarbons, predicting the cartel will significantly increase its dominance in the global oil market over the next two decades. The Organization of Petroleum Exporting Countries said in its annual report on long-term energy trends that it expects global oil demand to …
Gold prices dipped on Tuesday, pushed down by a stronger dollar. Rising U.S. Treasury yields increased as investors expected additional clues from Federal Reserve officials about the central bank’s monetary policy shift. By 0115 GMT, spot gold was down 0.1 percent to $1,748.01 per ounce, while U.S. gold futures were down 0.3 percent to $1,747.50. …
Gold prices moved up on Monday as continuing fears over the fate of debt-laden property behemoth China Evergrande and its broader implications bolstered the precious metal’s safe-haven appeal. Spot gold increased 0.5 percent to $1,757.79 per ounce by 0127 GMT. The U.S. gold futures were up 0.3 percent at $1,757.30. Asian shares got off to …
Oil prices slipped on Friday as more supply got back online in the U.S. Gulf of Mexico following two hurricanes. Still, both benchmark contracts were on course for weekly gains of higher than 3% as recovery in production is seen staggering demand. Brent crude futures dropped 35 cents, or 0.5%, over $75.32 per barrel at …
Oil drops as storm-struck supply make a slow return Read More »
Oil prices rose on Wednesday following industry data showed a more significant than expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer, and expectations that demand will increase as vaccine roll-outs grow. But a decline in China’s crude oil throughput in August with daily refinery runs going the weakest …
Oil prices rise following the drawdown of stocks Read More »
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