Fri, March 29, 2024

Commodities

oil

Oil Up on Vaccine Rollout, Worries of Iraq Oilfield Attack

Oil prices were up on Thursday, buoyed by a COVID-19 vaccine rollout in Britain. Additionally, the imminent approval of a vaccine in the United States could spur a rebound in fuel demand. This is despite a large build in U.S. crude stocks last week. At 0500 GMT US. West Texas Intermediate (WTI) crude futures gained …

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Gold bullions

Gold (XAU/USD) Seems Depressed But Downside Is Limited

Gold (XAU/USD) slipped through the Asian session. It plunged to two-day lows near the $1855 zone. However, the downside movement lacked strong momentum.  The yellow metal saw some selling in the first half of the trading action in Asia. It appears to have stalled its recent strong recovery move away from the multi-month lows. The …

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Oil refinery

Oil Slips over Soaring Coronavirus Cases & Lockdowns

Oil prices declined on Tuesday, adding to losses from the previous session. California tightened its pandemic lockdown through Christmas. COVID-19 cases continued to surge across the United States and Europe. Brent crude futures slipped 40 cents, or 0.8%, to $48.39 a barrel at 0455 GMT. U.S. West Texas Intermediate (WTI) crude futures was down 35 …

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Pandemic crisis

Energy Efficiency Progress Stalls amid Pandemic

Global progress toward energy efficiency has slowed to its lowest rate in a decade. Prices were subdued amid the COVID-19 pandemic, the International Energy Agency said on Thursday. Energy intensity is likely to improve by only 0.8% this year. This is a result of the health crisis and continuing low energy prices. That’s roughly half …

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Oil barrels

Oil Falls as Market Awaits OPEC+ and New Data

Oil was down on Tuesday morning in Asia’s commodities. Investors are uncertain about the world’s major producers’ extension of output cuts, which would support oil prices. Brent oil futures fell 0.71% at $47.54 by 11:55 PM ET (3:55 AM GMT). WTI futures lost 0.79% to $44.98. The Organization of the Petroleum Exporting Countries (OPEC) and …

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OPEC+ to Discuss Extending Oil Cuts/ Slowly Raising Output

OPEC+ to Discuss Extending Oil Cuts/ Slowly Raising Output

OPEC+ members will consider whether to extend existing oil cuts for three to four months. It will also assess a gradual increase of output from January during their two days of talks that start on Monday. The Organization of the Petroleum Exporting Countries, Russia and others, (OPEC+), held an initial round of talks on Sunday. …

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Germany's argriculture

German Minister Urges Meatpackers to Work Overtime

Germany’s agriculture minister called for slaughterhouses and meatpackers on Friday to work on weekends and on public holidays. The objective was to deal with a backlog of animals that has built up on farms during the coronavirus crisis. In the country, industry approximates around 590,000 animals are waiting for slaughter, said agriculture minister Julia Kloeckner. …

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Oil

Oil Rally Stalls despite U.S. Stocks Surprise Fall

Oil dipped on Thursday in energy commodities, stalling a rally driven by a surprise fall in U.S. crude inventories. This added to bullishness over anticipations that developments on vaccines may end the pandemic and revive fuel demand. Brent futures spent the Asian trading day higher, then went down 1 cent at $48.60 a barrel. It …

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