Commodities & Futures News

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19 Oct

Exclusive: Investor group to pressure utilities on net zero emissions deadline

Exclusive: Investor Group To Pressure Utilities On Net Zero Emissions Deadline

. Smoke and steam billow from Belchatow Power Station, Europe's largest coal-fired power plant, operated by PGE Group, at night near Belchatow, Poland December 5, 2018. /Kacper Pempel/File PhotoBy Jessica DiNapoli NEW YORK A coalition of investors with more than $60 trillion in assets under management is preparing to call on electric utility companies globally

19 Oct

Oil Inventories Rise by 3.3M Barrels Last Week: API

Oil Inventories Rise By 3.3M Barrels Last Week: API

. By Yasin U.S. crude stockpiles rose more than expected last week at a time when investor jitters about the energy-supply crunch persist.           West Texas Intermediate, the benchmark traded at $82.78 a barrel on the news, after settling up 1.5% at $85.32 a barrel.U.S. crude inventories increased by 3.3 million barrels for the week ended Oct. 15. That compared with a build of 5

19 Oct

White House and Democrats nearing deal on reconciliation package - sources

White House And Democrats Nearing Deal On Reconciliation Package - Sources

. U.S. Senators John Hickenlooper (D-CO) and Joe Manchin (D-WV) speak to each other in a hallway following the Senate Democrats weekly policy lunch at the U.S. Capitol in Washington, U.S., October 19, 2021. /Elizabeth Frantz WASHINGTON The White House and Democratic lawmakers are nearing deal on a framework for a major package of legislation on social programs and climate

19 Oct

White House does not rule out carbon tax despite Manchin comment

White House Does Not Rule Out Carbon Tax Despite Manchin Comment

. U.S. Senator Joe Manchin (D-WV) faces reporters outside the U.S. Capitol in Washington, U.S., September 30, 2021. /Leah MillisBy Timothy Gardner, Trevor Hunnicutt and Jeff Mason WASHINGTON -The White House on Tuesday said it had not taken a carbon tax off the table as a possible option for fighting climate change, but U.S. Senator Joe Manchin said he was not d

19 Oct

Oil Extends Rally With Few Stops, As 4th Straight U.S. Crude Build Forecasted

Oil Extends Rally With Few Stops, As 4th Straight U.S. Crude Build Forecasted

. By Barani Oil prices settled near seven-year highs on Tuesday, rising on the premise of a global supply squeeze despite forecasts pointing to a fourth straight weekly build in U.S. crude inventories.U.S. crude’s West Texas Intermediate benchmark settled up 52 cents, or 0.6%, at $82.96 per barrel. On Monday, WTI hit a seven-year high of $83.87 before ending lower.London-traded Brent c

19 Oct

Oil remains near multi-year highs as energy crunch persists

Oil Remains Near Multi-year Highs As Energy Crunch Persists

. Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. /Drone BaseBy Stephanie Kelly NEW YORK -Oil rose on Tuesday and was near multi-year highs as an energy supply crunch continued across the globe, while falling temperatures in China revived concerns over whether the world's biggest energy c

19 Oct

U.S. road travel rose 8.3% in August as driving rebounds from pandemic levels

U.S. Road Travel Rose 8.3% In August As Driving Rebounds From Pandemic Levels

. Cars are parked in front of the Blue Lick Elementary School during orientation day in Louisville, Kentucky, U.S., August 9, 2021. /Amira KaraoudWASHINGTON U.S. motorists drove 8.3% more miles in August versus the same month a year ago as driving continues to recover from pandemic lows and more Americans returned to offices and took leisure trips. The Federal

19 Oct

Manchin says carbon tax 'not on the board' in U.S. spending bill talks

Manchin Says Carbon Tax 'not On The Board' In U.S. Spending Bill Talks

. U.S. Senator Joe Manchin (D-WV) faces reporters outside the U.S. Capitol in Washington, U.S., September 30, 2021. /Leah MillisWASHINGTON -U.S. Senator Joe Manchin said on Tuesday that he is not talking about a carbon tax in negotiations over the spending and infrastructure bills, even as some of his fellow Democrats in the Senate support it as a way to fight c

19 Oct

Explainer-Net zero: just patching over emissions or path for saving planet?

Explainer-Net Zero: Just Patching Over Emissions Or Path For Saving Planet?

. Smoke rises above a factory at sunset in Rugby, Britain February 10, 2021. /Matthew Childs/File PhotoBy Shadia Nasralla and Susanna Twidale LONDON More than 190 countries committed in 2015 to limiting global warming to 1.5 degrees Celsius above pre-industrial levels in an effort to stave off the worst effects of climate change such as drought, flooding and l

19 Oct

Oil remains near multi-year highs as energy crunch continues

Oil Remains Near Multi-year Highs As Energy Crunch Continues

. Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. /Drone BaseBy Bozorgmehr Sharafedin LONDON -Oil edged lower on Tuesday but remained near multi-year highs as an energy supply crunch continued across the globe, while falling temperatures in China revived concerns over whether the world's

19 Oct

UK says new taxes will be needed to replace fuel duty in net zero push

UK Says New Taxes Will Be Needed To Replace Fuel Duty In Net Zero Push

. Britain's Chancellor of the Exchequer Rishi Sunak delivers a speech during the annual Conservative Party Conference, in Manchester, Britain, October 4, 2021. /Toby MelvilleLONDON Britain will probably have to introduce new taxes to compensate for the loss of revenues from its shift away from fossil fuels which will hit the government's income that is current

19 Oct

Port of Rotterdam freight volumes rise 15% as economy recovers

Port Of Rotterdam Freight Volumes Rise 15% As Economy Recovers

. A container terminal is seen in the port of Rotterdam, the Netherlands, March 21, 2016. /Michael Kooren/File PhotoAMSTERDAM Freight volumes in the port of Rotterdam increased 15% on a yearly basis in the third quarter as international trade continued to recover from its COVID-19 slump, Europe's largest sea port said on Tuesday. Trade flows to and from Rotter

19 Oct

'Green is good' says UK's Johnson, wooing Wall Street dollars

'Green Is Good' Says UK's Johnson, Wooing Wall Street Dollars

3/3Reuters. Britain's Prime Minister Boris Johnson takes part in media interviews during the annual Conservative Party conference, in Manchester, Britain, October 5, 2021. /Phil Noble/File Photo2/3By William James LONDON -British Prime Minister Boris Johnson announced nearly 10 billion pounds ($13.72 billion) of private investment in green projects on Tuesday and court

19 Oct

Britain to create 440,000 new jobs with net-zero strategy - minister

Britain To Create 440,000 New Jobs With Net-zero Strategy - Minister

. A plane flies behind cranes standing on construction sites, at dusk in London, December 9, 2013. /Toby Melville/File PhotoLONDON Britain's net-zero strategy will create 440,000 new jobs in green industries by 2030, junior energy minister Greg Hands said on Tuesday, adding it included a zero-emission vehicle mandate to end the sale of new petrol and diesel ca

19 Oct

'Green is good' says UK's Johnson in bid to woo climate investment

'Green Is Good' Says UK's Johnson In Bid To Woo Climate Investment

3/3Reuters. Britain's Prime Minister Boris Johnson takes part in media interviews during the annual Conservative Party conference, in Manchester, Britain, October 5, 2021. /Phil Noble/File Photo2/3By William James LONDON -Britain announced nearly 10 billion pounds ($13.72 billion) of private investment in green projects on Tuesday, as Prime Minister Boris Johnson hoste

19 Oct

China coal hits record high amid tight supplies

China Coal Hits Record High Amid Tight Supplies

. Water vapour rises from a cooling tower of a China Energy ultra-low emission coal-fired power plant during a media tour, in Sanhe, Hebei province, China July 18, 2019. /Shivani SinghBy Shivani Singh BEIJING China coal prices hit a record high on Tuesday buoyed by a widening power crunch and cold weather despite Beijing's efforts to bolster supply. Thermal co

19 Oct

Oil prices rise on China energy demand concerns

Oil Prices Rise On China Energy Demand Concerns

. Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. /Drone BaseBy Bozorgmehr Sharafedin LONDON -Oil prices rose on Tuesday as a supply crunch in natural gas, electricity and coal continued across the globe while falling temperatures in China revived concerns over whether the world's biggest

19 Oct

Oil prices reverse earlier losses on China energy demand concerns

Oil Prices Reverse Earlier Losses On China Energy Demand Concerns

. Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. /Drone BaseBy Aaron Sheldrick TOKYO -Oil prices rose on Tuesday, recouping earlier losses, as falling temperatures in China, the world's biggest energy consumer, revived concerns about its ability to meet heating demand needs amid power an

19 Oct

Britain's fossil fuel dilemma in the spotlight as climate talks near

Britain's Fossil Fuel Dilemma In The Spotlight As Climate Talks Near

2/2Reuters. Drilling rigs are parked up in the Cromarty Firth near Invergordon, Scotland, Britain January 27, 2015. /Russell Cheyne2/2By Shadia Nasralla LONDON Britain faces a fossil fuel dilemma: it can burnish its green credentials by halting new oil and gas development in the North Sea, yet doing so will leave it more reliant on imported fuel. How Britain charts a

19 Oct

Gold Up Thanks to Declining Dollar, U.S. Bond Yields

Gold Up Thanks To Declining Dollar, U.S. Bond Yields

. By Gina – Gold was up on Tuesday morning in Asia, thanks to declines in both the dollar and U.S. bond yields that provided some support to the yellow metal.Gold futures were up 0.57% to $1,775.75 by 12:40 AM ET (4:40 AM GMT).The dollar, which normally moves inversely to gold, was down on Monday and remained near the lower part of its recent range. Benchmark U.S. benchmark 10-year Treas

19 Oct

Oil Prices Remain Steady After Reaching High

Oil Prices Remain Steady After Reaching High

. By Gina Oil prices continued its high on Tuesday after starting the week at its its highest level in years.Brent Oil Futures hovered at $84.33 at 11:07 PM ET (3:08 AM GMT), while WTI Futures inched up 0.04% to $81.72.Both Brent and WTI futures rose by at least 3% last week.As winter approaches the northern hemisphere, the prices for oil, coal and gas are likely to remain elevated, acco

19 Oct

Oil prices fall as weaker China growth, U.S. output stoke demand concerns

Oil Prices Fall As Weaker China Growth, U.S. Output Stoke Demand Concerns

. By Aaron Sheldrick TOKYO Oil prices fell on Tuesday, with Brent down a second straight day, after Chinese data showed slowing economic growth and U.S. factory output dropped in September, raising fresh concerns about demand amid patchy recovery from the coronavirus pandemic. Brent crude was down by 43 cents, or 0.5%, at $83.90 a barrel by 0132 GMT after falling 0.6% on Monday.

19 Oct

U.S. Democrats battle over climate change plans in $3.5 trillion bill

U.S. Democrats Battle Over Climate Change Plans In $3.5 Trillion Bill

. U.S. Senate Majority Leader Chuck Schumer (D-NY) talks on a phone as he departs following the weekly Senate Democratic policy lunch at the U.S. Capitol in Washington, U.S., September 14, 2021. /Evelyn HocksteinBy Richard Cowan and David Morgan WASHINGTON Negotiators of a U.S. bill to invest up to $3.5 trillion to expand social programs and attack climate cha

18 Oct

U.S. energy transition to create Mexico auto jobs, climate envoy Kerry says

U.S. Energy Transition To Create Mexico Auto Jobs, Climate Envoy Kerry Says

. Mexico's President Andres Manuel Lopez Obrador speaks with U.S. climate adviser John Kerry, where the two men are expected to discuss a major tree planting program championed by the Mexican leader in Palenque, Chiapas October 18, 2021 in this picture deliMEXICO CITY Mexico's manufacturing sector stands to benefit from a U.S. transition away from fossil fuels including the crea

18 Oct

Negotiations on $3.5 trillion U.S. investment bill making progress -Schumer

Negotiations On $3.5 Trillion U.S. Investment Bill Making Progress -Schumer

. U.S. Senate Majority Leader Chuck Schumer (D-NY) talks on a phone as he departs following the weekly Senate Democratic policy lunch at the U.S. Capitol in Washington, U.S., September 14, 2021. /Evelyn HocksteinWASHINGTON Negotiators to a massive U.S. bill that would invest up to $3.5 trillion to expand social programs and attack climate change have made prog