Commodities

Crude prices edged higher by about 1% on Thursday after abandoning a seven-month low in the prior session as some technical traders bought the dip and Russia threatened to halt oil and gas exports to some buyers.That price increase came despite a surprise size of US crude inventories, news that …

Belgian Prime Minister Alexander De Croo warned that Europe is in need to immediately act to address the energy crisis or risk the kind of fundamental economic shutdown that the bloc would struggle to recover from.“A few weeks like this and the European economy will just go into a full …

Gold prices are down on the day after heavily falling from a high of $1,728.23 to a low of $1,704.00. The precious metal is trading around $1,707.33 at the time of writing and lower by 0.5%. The US dollar index and shorter-dated US Treasury yields rose on Thursday following Fed …

Oil prices fell on Thursday, after recording sharp losses in the previous session, as the extension of China’s closure measures to curb the spread of the Coronavirus exacerbated fears of a slowdown in global economic activity, which is hurting demand. Brent crude futures lost 40 cents, or 0.4 percent, to …

Gold prices fell on Thursday, while investors awaited comments from Federal Reserve Chairman Jerome Powell and the European Central’s decision on the upcoming interest rate later Thursday. And gold fell in spot transactions 0.1 percent to $ 1716.59 an ounce (an ounce) by 0609 GMT, after rising by about one …

Factors that could impact the volume of LNG exports in the next months include the planned outage at Cove Point in October and Freeport LNG resuming partial operations by mid-November. EIA forecasts total US liquefied natural gas exports to account for 12.3 Bcf/d in 2023.Spot prices at the US benchmark …

On Wednesday, Russia’s Vladimir Putin described Western sanctions “stupid” and threatened to halt all energy sales to Russia’s critics if they move forward with a cap on oil prices proposed by the G7 industrialized economic powers.“We will not supply gas, oil, coal, heating oil, we will not supply anything,” Putin …

On Wednesday, EU’s Ursula von der Leyen proposed that the bloc cap the price of Russian-imported gas, among other measures, as the member states are forced to deal with a worsening energy crisis while seeking to punish Moscow for invading Ukraine.Facing a cut-off of Russian oil and natural gas as …

Gold price is firm on Wednesday, but the precious metal is looking forward to reaching key resistance as the US dollar retreated from fresh highs. Gold bulls eye a 50% mean reversion with the prospects of a break to $1,735 beyond the said level. Gold price has added to gains …

Russia could maximize revenues if it decides to resume selling natural gas to the EU member states again. Russia may have to turn the natural gas tap back on for Europe, Citi’s global head of commodities research said Wednesday. Russia has halted Nord Stream 1 flows, and Europe is facing …