Gold futures crept up 0.19% to $1,791.15 by 12:30 AM ET (4:30 AM GMT). Jeffrey Halley, the senior market analyst for the Asia Pacific at OANDA, told Reuters that the elephant in the room is this coronavirus Delta variant and whether it does substantially affect the global improvement. In that situation, gold is expected to …
A Chinese logistics company has emerged as a primary player in sanctioned oil from Iran and Venezuela. However, it became blackballed by Washington two years ago for marketing Iranian crude. Seven sources from Reuters confirmed deals reported. The more prominent role of China Concord Petroleum Co, also recognized as CCPC, is its development into trading …
CCPC Takes Focus on Iran and Venezuela Oil Trade Read More »
Oil was up Friday morning in Asia holding its gains from the prior session after a dispute within the Organization of the Petroleum Exporting Countries and partners (OPEC+) postponed a decision on production levels. This might create an inflationary spike in prices if not fixed. Brent oil futures were higher 0.30% to $76.07 by 10:48 …
Brent crude was under 26 cents, or 0.3%, at $69.25 by the barrel as 0918 GMT, following growing as high as $69.77 earlier in the session. U.S. West Intermediate crude (WTI) shifted 0.4%, or 31 cents, to $66.98 per barrel, following touching $67.66 earlier. Daily crude processing in China, the world’s largest oil importer, dropped …
The dominance of the greatest producers in the Gulf bestows large as the industry’s technology exhibition, the Offshore Technology Conference, formally gets underway in Houston on Monday. The event, which attracted more than 60,000 people and 1,000s exhibitors in previous years, will be more minor this year because of company cutbacks and COVID-19-induced travel limitations. …
U.S. and Gulf of Mexico Oil Producers Alliance Speeds Up Read More »
On Wednesday, U.S. President Joe Biden’s administration requested the Organization of Petroleum Exporting Countries (OPEC) and its partners, identified as OPEC+, to increase production to stop rising gasoline prices that they perceive as a threat to the global economic improvement. In a note dated Thursday, Goldman Sachs said they don’t comprehend the new White House …
At 11:38 am Singapore time (0338 GMT), the ICE October Brent futures contract was more extra. It lead 11 cents/b (0.15%) from the previous close at $71.55/b. While the NYMEX September light sweet crude contract was further after 11 cents/b (0.16%) at $69.36/b. The uptick in prices occurred amid a dollar reduction following data from …
Brent oil futures went up 0.06% to $70.67 by 10:27 PM ET (2:27 AM GMT). Additionally, WTI futures increased 0.03% to $68.31. U.S. and European shares climbed amid rising expectations that global consumption will extend upwards. It will squeeze the market until the end of 2021. According to Blue Line Futures LLC, chief market strategist …
According to Jean Zou, an analyst at Shanghai-based commodities researcher ICIS-China, state-owned China Petroleum & Chemical Corp., commonly identified as Sinopec (NYSE: SHI), is shirking run rates at some plants by 5% to 10% associated with beforehand planned levels this month. The analytics company follows refinery operations, maintenance plans, and processing margins over China. …
Previously, greenhouse gas levels in the atmosphere are high enough to ensure climate disruption for decades, if not centuries, as stated by the scientists of the Intergovernmental Panel on Climate Change (IPCC) In other words, the dangerous heatwaves, massive hurricanes, and different weather climaxes that are previously happening will only become more critical. According to …
Gold fell on Friday morning in Asia but settled near the key $1,800 mark as investors expect the latest U.S. jobs report. Gold futures fell 0.39% to $1,801.90 by 1:24 PM ET (5:24 AM GMT) and were fixed for their most critical weekly performance after mid-June 2020. The U.S. report, including nonfarm payrolls data, is …
Millers and bakers are reducing wheat resources and spending more on spring wheat utilized in baking as drought dries crops over the Canadian Prairies and the northern U.S. Fields that produce more than half of the world’s supply. U.S. and Canadian farmers are strengthening a distinctly smaller spring wheat crop due to the aridest conditions …
Investor anxieties brought on by the coronavirus Delta variant are directing to a safe-haven scramble to bonds, which pushed gold higher through Monday’s trading session—a potential sign of more upside ahead. Gold prices drove adjacent to their 200-day shifting average for the prices, which could show long-term momentum. A Kitco News report described the move …
Natural gas futures price rose on August 2 on short supply, low production, and stable LNG demand. The gas prices had dropped 3.97 percent last week on the NYMEX. The energy commodity continued gains following a gap-up start, following the bullish global cues. The gas delivery for August advanced Rs 7, or 2.41%, to Rs …
A tightening global copper market faces the real chance of simultaneous strike severance at three mines in Chile, the largest metal producer. Until now, the most severe threat to world supplies arises from Escondida, the largest copper mine in the world, where workers refused proprietor BHP Group’s final wage offer in voting last week. Except …
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