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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Oil edged up on Friday, ending the week on a positive note. This is largely driven by the on-going strike by oil workers in Norway that potentially slash the country’s total supply by at least 25%. Brent crude, the global benchmark, gained another 8 cents after hiking by a robust 3% yesterday. It currently trades …
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 …
OPEC Sees A Dramatic Shift Ahead for the Crude Oil Market Read More »
Wheat contract in the Chicago Board of Trade slipped by 0.3%, translating to $5.91per bushel. This comes after it surpassed a 2015 high of $6.01 ¾ per bushel in the previous trading session. The drop is immediately capped by the growing concerns over dry weather on key exporting countries situated in the Black Sea region …
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 …
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 …
Oil prices fell to about 3% in energy commodities on Friday. This was after the U.S. President Donald Trump said he has tested positive for COVID-19. Agreement on a U.S. stimulus package escaped negotiators amid ongoing concerns about demand. Brent crude slid on the news, dropping $1.12, or 2.7%, at $39.81 a barrel by 0710 …
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Gold futures plunged in precious metals for September 30’s session resulting in a loss for the month. Prices responded to a stronger dollar that has been weighing significantly on commodity prices. The gold recorded an eight quarterly gain though, underpinned by haven demand for the yellow metal. The stats show that it was a great …
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 …
Global Offshore Oil and Gas Pipeline Demand Set to Drop Read More »
Gold was up 1.05% to USD1881.00 an ounce in precious metals overnight. The rally on equity markets and decline in the US dollar pushed the gold bulls to return to the market. The yellow metal has edged higher again in Asia to USD1883.00 an ounce. Regional players were seemingly keen to add to longs this …
Libya’s oil industry is reopening, however, in parts, commodity news reported. All of the country’s oil industry was shut down in January due to the civil war. Oil output has almost tripled to 250,000 barrels a day. This was since the partial lifting last week of a blockade on the OPEC member’s energy facilities. Exports …
Royal Dutch Shell provisionally booked a tanker to load crude cargo at Libya’s Zueitina oil port on Oct. 3. This will be potentially the first since January at the recently reopened port. The Amoureux tanker is expected to load a 1 million barrel cargo. Then it is to discharge in Singapore on Oct. 22, shipping …
Shell Books Tanker to Load Crude at Libya’s Terminal Read More »
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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The chief executive of Russian oil producer Gazprom Neft said he expects global oil consumption to return to pre-crisis level. That should be in the second half of 2021, a bit later than the energy ministry’s forecast for Q2. CEO Alexander Dyukov said the current oil prices of above $40 per barrel are comfortable. And …
Oil Demand to Return to Pre-crisis Levels in Q2 2021 Read More »
Libya’s National Oil Company said it expected oil production to increase to 260,000 barrels per day (bpd) next week. The OPEC member is looking to revive its oil industry, crippled by a blockade since January. Oil prices declined by around 5% in energy commodities on Monday. The market is grappling with the prospect of collapsing …
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