Tag: “Commodity”

Oil prices steady as Russia eases fuel export ban

LONDON, Sept 25 (Reuters) – Oil prices held steady on Monday after Russia relaxed its fuel ban, taking the edge off earlier gains on a tighter supply outlook and wariness over interest rates that could curb demand.

Oil prices rise as Russia fuel export ban stokes supply concerns

Oil prices rose on Friday as renewed global supply concerns from Russia’s fuel export ban counteracted demand fears driven by macroeconomic headwinds and high interest rates.

Lithium supply may tighten in the years ahead, driving prices higher along with it

Investors shouldn’t be discouraged by the recent price declines in battery-grade lithium, with expectations for growth in demand from the electric vehicle market still strong.

Saudi energy minister says oil supply cuts are not about ‘jacking up prices,’ as Brent hovers at $95 a barrel

Saudi Arabia’s energy minister said Riyadh and Moscow’s decision to extend crude oil supply cuts is not about “jacking up prices,” as Brent futures hover near $95 a barrel and analysts predict further rises into triple digits.  

Oil prices extend rise on supply worries

Oil futures rose Wednesday, building on 2023 highs, on continued concerns over tight supplies.

European gas prices jump 10% as strikes get underway at major LNG facilities in Australia

European gas prices moved sharply higher on Friday as workers at Australian natural gas facilities went on strike, prompting fears that a prolonged halt to production could squeeze global supplies.

Saudi Arabia to extend voluntary cut of 1 million barrels per day until the end of the year

Saudi Arabia on Tuesday extended its 1-million-barrels-per-day voluntary oil production cut until the end of the year, according to the state-owned Saudi Press Agency.

A worldwide lithium shortage could come as soon as 2025

The world could face a shortage for lithium as demand for the metal ramps up, with some analysts forecasting that it could come as soon as 2025. Others, however, see a longer time frame before that shortfall hits.

Oil prices could rise further this year, but 2024 demand to slow sharply: IEA

LONDON, Aug 11 (Reuters) – OPEC+ supply cuts could erode oil inventories in the rest of this year, potentially driving prices even higher, before economic headwinds limit global demand growth in 2024, the International Energy Agency (IEA) said on Friday.

OPEC leaves forecasts for global oil-demand growth unchanged

The Organization of the Petroleum Exporting Countries on Thursday left its forecasts for growth in 2023 and 2024 world oil demand unchanged. In its monthly report, OPEC said it expects demand this year to grow by 2.4 million barrels a day, followed by 2.2 million barrels a day, or mbd, in 2022. 

European gas prices jumped nearly 40% on Australia supply fears — and analysts expect further rises

Energy analysts believe the bullish momentum for European natural gas prices will persist over the coming months after futures jumped almost 40% on Wednesday.

Oil pulls back after 6th straight weekly rise

Oil futures pulled back from nearly four-month highs early Monday, consolidating as the U.S. dollar strengthened versus major rivals.

Oil set for sixth weekly gain on extended supply cuts

Oil prices were on track for a sixth week of gains after Saudi Arabia and Russia, the world’s second and third-largest crude producers, pledged to cut output through Septembe

Gold prices lower for 4th day as traders await July U.S. jobs report

Gold prices were modestly lower ahead of the release of jobs figures for July, which economists expected would show the U.S. labor market had continued to expand at a relatively robust pace.

Oil prices bounce as Saudi Arabia extends production cut

Crude was reclaiming some ground lost in the previous session after a downgrade of the U.S. credit rating dented sentiment across markets, offsetting a record drop in U.S. crude inventories.

Oil prices on track for largest monthly gain in over a year

Oil futures rose early Monday, with both Brent and West Texas Intermediate crude on track for big monthly advances following strong economic data.

Goldman Sachs expects ‘all time high’ oil demand to spur large deficits, boosting prices

Goldman Sachs forecasts “all-time high” demand in oil markets leading to a “sizeable deficit.”


IEA trims oil demand forecast for the first time this year on ‘persistent’ economic headwinds

The world’s leading energy watchdog said global oil demand is now on track to climb by 2.2 million barrels per day in 2023 to reach an average of 102.1 million barrels per day.

BASF cuts 2023 earnings guidance on weak industrial demand

FRANKFURT, July 12 (Reuters) – German chemicals giant BASF (BASFn.DE) on Wednesday cut its full-year earnings guidance, the latest in a string of chemical companies caught out by weak demand from industrial clients and higher interest rates.

Gold prices trade at highest since June ahead of U.S. CPI data

Gold prices were slightly firmer Wednesday, trading at their highest levels since June, ahead of the release of the U.S. consumer-price index data that may give investors some insight into the future path of Federal Reserve interest rate rises.