Fri, March 29, 2024

Commodities

OPEC Organization of the Petroleum Exporting Countries

OPEC Sees A Dramatic Shift Ahead for the Crude Oil Market

The Organization of the Petroleum Exporting Countries (OPEC) dropped a major bomb for the crude market this Thursday. Investors were baffled when the crude exporting group said that the world oil demand would plateau in the late 2030s. According to the block, international demand could gradually decline from that point onwards. The major shift in …

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Oil barrels photo

Oil Price Gains with Trump’s Return to Office

Oil price gained after reports of Trump’s return to the White House surrounded commodity news. In the ICE Futures Europe, the world’s benchmark, Brent crude futures, currently trades at $41.59 after gaining 0.51% in the latest figures. Similarly, West Texas Intermediate futures for November delivery are up by 1.9% or 76 cents. Still trading below …

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Concerns About the Omicron Helped Boost Gold

Gold Down With Trump’s Abrupt Recovery

Gold price edged down after reports on Trump’s positive medical assessment circulated commodity news.  The event added to the political uncertainty around the globe, only a month ahead of November elections happening in the world’s most powerful economy. The US leader is set for discharge today from Walter Reed National Military Medical Center. This is …

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The large offshore oil rig at night with twilight background

Global Offshore Oil and Gas Pipeline Demand Set to Drop

The global oil and gas market demand for large-diameter offshore pipeline, is set for an annual drop of 26% this year. A Rystad energy analysis shows it has a size of total installations forecasted to reach 2,150 kilometers. However, this downturn’s impact on trunkline demand is lighter than that of 2016. Led by projects in …

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Oil pump rig

Oil Falls amid Concerns on Slow Economic Recovery

Oil prices fell in energy commodities on Thursday. The industry is being weighed down by concerns that U.S. economic recovery is slowing. A renewed wave of COVID-19 cases in Europe has led to reimposed travel restrictions in several countries. Worries over demand and economic outlook due to the resurgence of COVID-19 have prompted a rally …

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Refueling of aircraft

Jet Fuel Prices Drop over Cancelled Flights | Wibest Broker

Jet fuel prices declined due to flights that were canceled over the coronavirus-related restrictions. This prompted the Russians to blend it with diesel for cars. But this may lead to shortages of the fuel for planes and lower tax returns, according to commodities experts. The increase of the surrogate fuel is also a source of …

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