Commodities news

Europe Agrees to Cap Gas Prices

Europe Agrees to Cap Gas Prices

17
Commodities news
20.12.2022

EU energy ministers have agreed to temporarily cap natural gas prices, after months of furious debate over whether the measure will protect European households and businesses from extreme price spikes during the winter.Europe will trigger the cap if...

OPEC Continues Supply Cuts as West Sanctions Russian Oil

OPEC Continues Supply Cuts as West Sanctions Russian Oil

25
Commodities news
04.12.2022

The Organization of the Petroleum Exporting Countries (OPEC) and its allies will continue with their existing policy of carefully managing oil output. Sunday’s announcement came at the same time as new Western sanctions on Russian crude exports becam...

European Power Prices Soar as Energy Crisis Worsens

European Power Prices Soar as Energy Crisis Worsens

75
Commodities news
29.08.2022

Power prices in Europe are breaking records, solidifying the sense of crisis in the region, and spreading fears about possible power shortages as winter looms.Power prices in Germany, which usually represent the benchmark for the remainder of the con...

Eurozone Economy Sinks to 18-month Low

Eurozone Economy Sinks to 18-month Low

72
Commodities news
23.08.2022

Economic activity in Europe tumbled for a second consecutive month in August, as high inflation fueled by Russia’s war in Ukraine sours the outlook.The S&P Global Flash Eurozone Purchasing Managers Index (PMI) slumped to its lowest level in 18 mo...

Europe Unveils Emergency Gas Rationing Plan

Europe Unveils Emergency Gas Rationing Plan

70
Commodities news
21.07.2022

The EU has revealed plans to ration gas to member countries as the world watches to see if Russia cuts the flow of natural gas to the continent. The EU has asked its 27 member states to reduce their gas demand by 15% between August and March next...

Oil Slides Under $100 a Barrel for First Time Since May

Oil Slides Under $100 a Barrel for First Time Since May

79
Commodities news
07.07.2022

For the first time in nearly two months, crude oil prices have dipped below $100 a barrel, reflecting increasing investor worries about a global recession that could throttle demand for energy. The price of West Texas Intermediate (WTI) crude slid...

Ryanair Chief Says Travelers Face Years of Rising Ticket Prices

Ryanair Chief Says Travelers Face Years of Rising Ticket Prices

72
Commodities news
05.07.2022

Ryanair CEO Michael O'Leary has warned that the current low-cost carrier model is unsustainable as aviation costs continue to rise.  Citing sky-rocketing fuel prices and gradually increasing sustainability levies, the airline boss predict...

Gasoline Prices Reach $5 Across the US

Gasoline Prices Reach $5 Across the US

103
Commodities news
14.06.2022

In what is a record high, the average price of a gallon of regular unleaded gas hit $5 across the US last week. The high fuel price is expected to last through the summer driving season, which is when driving levels are at their peak.  The su...

China Reduces Russian Energy Due to Diminishing Consumption

China Reduces Russian Energy Due to Diminishing Consumption

128
Commodities news
23.05.2022

In April, China's monthly imports from Russia hit a record high of US$8.9 billion. This was an increase of 57% from the year before and 13% higher than March. At face value, it may appear that China is importing more from Russia, but soaring c...

US Gas Prices Leap to Record Highs

US Gas Prices Leap to Record Highs

150
Commodities news
11.05.2022

In another blow to the embattled US economy, prices at the pump climbed to new record highs. The national average price for regular gasoline soared more than four cents on Tuesday to $4.37 a gallon, beating the prior record of $4.33 set in early Marc...

Europe is Planning to Ditch Russia's Oil

Europe is Planning to Ditch Russia's Oil

154
Commodities news
05.05.2022

The European Commission has proposed a sixth round of sanctions against Russia over its attack on Ukraine. The new restrictions include a plan to phase out all crude and oil products by the end of the year. Sanctions have so far not affected Russi...

World Bracing for Palm Oil Shortage

World Bracing for Palm Oil Shortage

163
Commodities news
29.04.2022

Indonesia, which is responsible for producing 60% of the world’s palm oil, has banned exports of the product due to inflation and supply concerns. The export ban has ratcheted up the pressure on worldwide prices of food and cooking oil, whic...

Corn Futures Hit Decade-High on Fears of Shortages

Corn Futures Hit Decade-High on Fears of Shortages

180
Commodities news
19.04.2022

War in Ukraine and freezing temperatures in the US have led to forecasts of a lower corn supply, driving grain prices higher.  Chicago Board of Trade (CBOT) corn futures topped $8 a bushel and reached their highest price in nearly a decade on...

Oil Prices Fall as Economies Struggle

Oil Prices Fall as Economies Struggle

184
Commodities news
12.04.2022

Crude futures have fallen nearly 3% after nearing $140 a barrel in early March and hitting $120 as recently as two weeks ago. Rather than skyrocket after Russia’s invasion of Ukraine, oil prices are falling. With Shanghai and other Chinese c...

Shell Takes Major Loss from Russia Exit

Shell Takes Major Loss from Russia Exit

184
Commodities news
07.04.2022

Shell will write down as much as $5 billion following its decision to exit Russia, more than previously disclosed. After revealing post-tax impairments of between $4 billion and $5 billion, the company’s shares fell 1.2% in London trading th...