Commodities & Futures News

Commodities & Futures News

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22 Jan

Germany cries foul over nuclear energy in EU's green investment rule book

Germany Cries Foul Over Nuclear Energy In EU's Green Investment Rule Book

. A general view of the nuclear power plant, whose last unit will be shut down at the turn of the year, in Gundremmingen, Germany, December 29, 2021. /Lukas Barth/File PhotoBy Michael Nienaber BERLIN German Chancellor Olaf Scholz's three-party coalition government has voiced its objections to a European Union draft plan to label nuclear power plants as a susta

21 Jan

Oil slides on Friday, but climbs for 5th week on supply concerns

Oil Slides On Friday, But Climbs For 5th Week On Supply Concerns

. Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, 2018. /Aly Song/File PhotoBy Scott DiSavino NEW YORK -Oil prices slid for a second day in a row on Friday, pressured by an unexpected rise in U.S. crude and fuel inventories while investors took profits after the benchmarks touched seven-year highs earlier in the week. Howev

21 Jan

Oil Up for 5th Week; U.S. Stockpiles, Wall Street Rout Begin to Weigh

Oil Up For 5th Week; U.S. Stockpiles, Wall Street Rout Begin To Weigh

. By Barani Crude prices notched a fifth straight weekly win, but a knee-jerk tumble to mounting U.S. gasoline inventories and Wall Street’s worst days since the coronavirus pandemic were signs that a market closer to $90 a barrel may ultimately create more headwinds for oil longs.Crude is already running into resistance on its way to $90 and losing momentum, noted Craig Elam, analyst

21 Jan

How a Russian-Ukraine conflict might hit global markets

How A Russian-Ukraine Conflict Might Hit Global Markets

. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 29, 2021. /Brendan McDermid/File PhotoLONDON A potential invasion of Ukraine by neighbouring Russia would be felt across a number of markets, from wheat and energy prices and the region's sovereign dollar bonds to safe have assets. Below are four charts showing w

21 Jan

Oil slides but set for 5th weekly gain on lingering supply concerns

Oil Slides But Set For 5th Weekly Gain On Lingering Supply Concerns

. Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, 2018. /Aly Song/File PhotoBy Scott DiSavino NEW YORK -Oil prices slid for a second day on Friday, pressured by an unexpected rise in U.S. crude and fuel inventories while investors took profits after the benchmarks touched seven-year highs earlier in the week. However, both

21 Jan

Oil majors TotalEnergies and Chevron withdraw from Myanmar

Oil Majors TotalEnergies And Chevron Withdraw From Myanmar

2/2Reuters. The logo of French oil and gas company TotalEnergies is seen at a petrol station in Ressons, France, August 6, 2021. /Pascal Rossignol2/2By Benjamin Mallet and Florence Tan PARIS -Oil majors TotalEnergies and Chevron Corp (NYSE:CVX), partners in a major gas project in Myanmar, said on Friday they were withdrawing from the country, citing the worsening hum

21 Jan

U.S. House panel turns to oil majors' boards in next climate probe

U.S. House Panel Turns To Oil Majors' Boards In Next Climate Probe

2/2Reuters. A view of the ExxonMobil Baton Rouge Refinery in Baton Rouge, Louisiana, U.S., May 15, 2021. Picture taken May 15, 2021. /Kathleen Flynn/File Photo2/2By Valerie Volcovici WASHINGTON -A U.S. congressional committee has invited board members at four oil majors to testify about the industry's role in climate change and spreading "disinformation," turning up th

21 Jan

Oil prices fall despite lingering supply concerns

Oil Prices Fall Despite Lingering Supply Concerns

. Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, 2018. /Aly Song/File PhotoBy Rowena Edwards London -Oil prices fell on Friday, pressured by an unexpected rise in U.S. crude and fuel inventories while investors took profits after global oil benchmarks touched seven-year highs this week. Brent crude futures were down 85 cen

21 Jan

Tight supplies, heating demand drive global gasoil margins to multi-year highs

Tight Supplies, Heating Demand Drive Global Gasoil Margins To Multi-year Highs

. A worker walks along oil pipes at Dinh Vu oil port in Hai Phong city, 100 km (62 miles) east of Hanoi March 14, 2012. /KhamBy Mohi Narayan, Roslan Khasawneh and Ron Bousso Refiners globally are reaping the highest profits from gasoil production in years on stronger than expected demand and tight supplies despite concerns about the Omicron coronavirus variant

21 Jan

U.S. crude exports ramp up as global demand recovers

U.S. Crude Exports Ramp Up As Global Demand Recovers

. A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. /Angus Mordant/File PhotoBy Stephanie Kelly NEW YORK U.S. crude exports are ramping up due to increasing demand from Asia and Europe and recovering U.S. production from the lows of the coronavirus pandemic. Surging worldwide

21 Jan

Oil drops as investors scoop up profits after U.S. inventory build

Oil Drops As Investors Scoop Up Profits After U.S. Inventory Build

. Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, 2018. /Aly Song/File PhotoBy Yuka Obayashi TOKYO -Oil prices fell on Friday, after rising to seven-year highs this week, as investors took profits after a build in U.S. crude and fuel inventories, though overall sentiment remained solid due to concerns over tight supply and g

21 Jan

Oil Down, Investors Begin Profit Taking Over Build in U.S. Inventories

Oil Down, Investors Begin Profit Taking Over Build In U.S. Inventories

. By Gina – Oil was down on Friday morning in Asia, after rising to seven-year highs earlier in the week. Investors also digested a bigger build in U.S. crude oil inventories.Brent oil futures fell 1.95% to $86.66 by 11:56 PM ET (4:56 AM GMT) and WTI futures slid 2.17% to $83.69.The black liquid’s recent rally appeared to run out of steam on Thursday when Brent and WTI futures ended th

21 Jan

Gold Down, but Heads For Second Consecutive Weekly Gain

Gold Down, But Heads For Second Consecutive Weekly Gain

. By Gina – Gold was down on Friday morning in Asia. However, the yellow metal was on course for a second consecutive weekly gain as investors brace for the U.S. Federal Reserve’s policy decision.Gold futures inched down 0.07% to $1,841.30 by 11:19 PM ET (4:19 AM GMT), while benchmark U.S. 10-year Treasury yields dropped on Thursday.Gold has gained about 1.2% so far this week and is se

21 Jan

Oil falls as U.S. inventory build prompts profit-taking

Oil Falls As U.S. Inventory Build Prompts Profit-taking

. Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, 2018. /Aly Song/File PhotoBy Yuka Obayashi TOKYO Oil prices plunged on Friday, after rising to seven-year highs this week, as an increase in U.S. crude and fuel stockpiles prompted investors to take profits from the rally. Brent crude futures dropped $2.46, or 2.8%, to $85

21 Jan

Oil Extends Drop From Seven-Year High as U.S. Stockpiles Expand

Oil Extends Drop From Seven-Year High As U.S. Stockpiles Expand

. Oil Extends Drop From Seven-Year High as U.S. Stockpiles Expand -- Oil extended its decline from the highest level since 2014 after a surprise gain in U.S. crude stockpiles and a big increase in gasoline supplies. Futures in New York dropped almost 2% in early Asian trading toward $84 a barrel. Crude inventories rose for the first time in eight weeks, while gasoline stockpiles

21 Jan

Oil Eases Off 2014 High With Modest U.S. Crude Supply Increase

Oil Eases Off 2014 High With Modest U.S. Crude Supply Increase

. Oil pumping jacks, also known as -- Oil’s rally faltered after U.S. crude stockpiles rose modestly amid renewed pledges from President Joe Biden to try to curb prices.  Futures in New York edged lower, closing below $87 a barrel. Domestic crude stockpiles rose last week for the first time in eight weeks, according to an Energy Information Administration report. Despite th

20 Jan

Shell to supply crude to Pemex's Texas refinery under long-term pact

Shell To Supply Crude To Pemex's Texas Refinery Under Long-term Pact

. An aerial view of the Shell Deer Park Manufacturing Complex is seen in Deer Park, Texas, U.S. August 31, 2017. /Adrees Latif/File PhotoBy Adriana Barrera and Ana Isabel Martinez MEXICO CITY/HOUSTON -Mexican state oil company Petroleos Mexicanos on Thursday signed a long-term crude supply contract with Royal Dutch Shell (LON:RDSa) Plc as part of its acquisition

20 Jan

Oil Rally Hits Speed Bump After Another Whopping US Gasoline Build 

Oil Rally Hits Speed Bump After Another Whopping US Gasoline Build 

. By Barani The run-up in oil prices hit a speed bump on Thursday after another whopping build in U.S. gasoline stockpiles, which bulls in the market insisted will not be a rally-killer in a market focused on global demand and supply disruptions.“I don't think the build in gasoline supplies is a bull killer,” Phil Flynn, a senior energy analyst at Chicago brokerage Price Futures Grou

20 Jan

Crude prices edge lower, though supply concerns still dominant

Crude Prices Edge Lower, Though Supply Concerns Still Dominant

. The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France September 17, 2019. /Christian Hartmann/File PhotoBy David Gaffen NEW YORK Oil edged lower on Thursday, posting slim losses after several days of strength that pushed benchmarks to seven-year highs due to concerns about tight supply. Brent crude futures settled down 6 cents to $88.38 a

20 Jan

U.S. Oil Stockpiles Rose 0.5M Barrels Last week: EIA

U.S. Oil Stockpiles Rose 0.5M Barrels Last Week: EIA

. By Sam -- U.S. oil stockpiles unexpectedly rose in the latest week, the Energy Information Administration said on Thursday.Crude inventories rose by 0.515 million barrels last week, compared with analysts' expectations for a draw of 0.93 million barrels.Distillate stockpiles, which include diesel and heating oil, dropped 1.431 million barrels in the week against expectations for a draw o

20 Jan

Crude prices edge up, with supply concerns still dominant

Crude Prices Edge Up, With Supply Concerns Still Dominant

. The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France September 17, 2019. /Christian Hartmann/File PhotoBy David Gaffen NEW YORK -Oil edged higher on Thursday, bolstered by strong demand and concerns about short-term supply disruptions, even though U.S. crude inventories rose for the first time in eight weeks. Brent crude futures were up 18

20 Jan

California's battle to cut emissions with biofuels burns in new truck engines

California's Battle To Cut Emissions With Biofuels Burns In New Truck Engines

3/3Reuters. The pump at an alternative fueling station that provides fuel other than gasoline is shown in San Diego, California January 8, 2015. /Mike Blake2/3By Laura Sanicola Renewable diesel is touted as a cleaner-burning fuel, but a recent study has shown the fuel falls short on one measure of reducing pollution from new truck enginesgiving pause to California

20 Jan

U.S. assesses Russian retaliation potential should it be cut from SWIFT -senator

U.S. Assesses Russian Retaliation Potential Should It Be Cut From SWIFT -senator

. Sen. Jeanne Shaheen (D-NH) speaks during a hearing of the Senate Foreign Relations to examine U.S.-Russia policy, on Capitol Hill, Washington, U.S. December 7, 2021. Alex Brandon/Pool via /File PhotoBy Timothy Gardner WASHINGTON The United States is analyzing what damage could be done by Russia to Western allies, such as halting oil and gas exports, if the B

20 Jan

Exclusive-Shell to supply crude to Pemex's Texas refinery under long-term pact, sources say

Exclusive-Shell To Supply Crude To Pemex's Texas Refinery Under Long-term Pact, Sources Say

. An aerial view of the Shell Deer Park Manufacturing Complex is seen in Deer Park, Texas, U.S. August 31, 2017. /Adrees Latif/File PhotoBy Adriana Barrera and Ana Isabel Martinez MEXICO CITY/HOUSTON Mexican state oil company Petroleos Mexicanos on Thursday will sign a long-term crude supply contract with Royal Dutch Shell (LON:RDSa) as part of its acquisition