Thu, March 28, 2024

Commodities

Oil refinery at night.

Oil Extends Losses on Renewed Lockdowns, Oversupply Worries

Oil prices declined on Thursday, extending a 5% slump in the previous energy commodities session. Renewed restrictions to curb a second wave of COVID-19 infections and signs of an increasing oil supply glut send prices tumbling. By 0743 GMT, U.S. West Texas Intermediate crude futures fell 8 cents, or 0.21%, to $37.31 a barrel. Brent …

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Oil barrels

Oil Declines amid Increasing U.S. Stockpiles

Oil retreated in energy commodities, falling below $39 a barrel. An industry report denoted a bigger-than-expected increase in U.S. crude stockpiles. Supply disruptions were offset from Tropical Storm Zeta. In commodity news last week, the American Petroleum Institute reported crude inventories expanded by 4.58 million barrels. Gasoline stockpiles rose for a second straight week. Moreover, …

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Oil rig

Oil Up, but Outlook Dim over Rise in Virus Cases and Supply

Oil prices rose on Tuesday after recent sharp losses in energy commodities. Market sentiment remains muted with coronavirus cases surging globally hurting the outlook for crude demand while supply is rising. By 0751 GMT Brent crude (LCOc1) was up 33 cents, or 0.8%, at $40.79 a barrel. Moreover, U.S. oil (CLc1) gained 28 cents, or …

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Gold Up, Strengthening Dollar, Presidential Debate

Gold Up, Strengthening Dollar, Presidential Debate 

Gold was up on Friday morning in Asia’s precious metals despite a stronger dollar. The U.S. presidential candidates President Trump and Democratic candidate Biden made their cases in the final debate. Investors continued to track progress on the latest stimulus measures. By 12:14 AM ET (4:14 AM GMT), gold futures climbed 0.20% at $1,908.35. The …

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Alaska Airlines sign

MSFT to Buy Jet Fuel Made with Waste Oil

Microsoft (MSFT) announced on Thursday its plans to buy alternative jet fuel for some Alaska Airlines flights. This is the company’s latest effort to reduce carbon emissions. This time, it’s those generated by its frequent business travel.  The coronavirus pandemic has hurt air travel demand, particularly for lucrative business trips. But even the maker of …

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Oil and Petroleum platform

Oil and Petroleum Prices Slip After US Oil Inventory Report

Following the crude inventory build-up reported in the United States, oil and petroleum prices see bearish tides this Wednesday. Investors are acting cautiously as they fear the global supply glut that could be worsened soon. See, the number of coronavirus cases around the world continues to rise. Experts believe that the globe is facing another …

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Oil

Oil Prices Steady but Rising Virus Cases, Oil Supply Weigh

Oil prices were steady on Tuesday in energy commodities. It stabilized after three days of declines over concerns that a resurgence of coronavirus is stifling a recovery in fuel demand. Growing output from Libya adds to plentiful supply. By 0635 GMT, Brent crude (LCOc1) futures were trading down 4 cents, or 0.1%, at $42.58 a …

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Oil and Gas industrial zone.

Oil Prices Slide after China Economic Data

Oil prices fell on Monday in energy commodities after the release of China’s Q3 economic growth data. It highlighted concerns that surging COVID-19 cases globally are impacting demand in the world’s largest oil importer. The world’s second-largest economy expanded by 4.9% in Q3 from a year earlier. It has missed analyst expectations of 5.2%, as …

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The landscape of Tokyo Marunouchi.

Japan to Make Commercial Hydrogen Fuel Supply Chain by 2030

Japan aims to set-up a commercial hydrogen fuel supply chain by around 2030. The objective is to support reducing carbon emissions, said Industry Minister Hiroshi Kajiyama during a virtual hydrogen conference late Wednesday. The country will try to speed up technological developments. This is to help scale up a transportation system for hydrogen using ships …

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Coal - fired power plants in China

China Coal Supplies to Tighten this Winter | Wibest Broker

China’s coking and thermal coal markets are set to tighten over the rest of 2020. Stringent import restrictions curb supply at a time of strong demand from heavy industry. Moreover, with the winter heating season about to kick in. China is the world’s top coal consumer. Last week, it reportedly informed key buyers to avoid …

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gold

Gold Rises Over Strengthening Dollar | Wibest Broker

Gold was up on Monday morning in Asia’s precious metals. Investors turned to the safe-haven metal as the dollar strengthened.  Negotiations over the latest U.S. stimulus measures stalled. Gold futures were up 0.37% at $1933.35, hitting its highest level since Sep. 21. It was at $1,932.96 earlier in the session while the dollar was up …

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