Commodities news

Bitcoin Climbs to Highest Level Since Mid-August

Bitcoin Climbs to Highest Level Since Mid-August

Commodities news
7 months ago

Bitcoin rose above $28,000 on Monday. The catalyst for the rise was not immediately clear. In other positive news for the crypto industry, several ether futures’ ETFs are set to launch on Monday. Crypto market watchers have been waiting to see whethe...

Hong Kong Cracks Down on Crypto Firms Claiming to Be Banks

Hong Kong Cracks Down on Crypto Firms Claiming to Be Banks

Commodities news
8 months ago

Hong Kong's central bank has warned investors to be alert of crypto businesses that call themselves "banks," saying such companies are violating the region's banking laws. The financial watchdog said only licensed institutions are permitted to carry...

Investment In Solar Power to Beat Oil For First Time

Investment In Solar Power to Beat Oil For First Time

According to the International Energy Agency (IEA), investments in solar projects are expected to outstrip investments in oil production for the first time ever in 2023.The Paris-based energy watchdog revealed that annual investments in renewable ene...

Gold Approaches All-Time Highs as Banking Worries Increase

Gold Approaches All-Time Highs as Banking Worries Increase

The price of gold flirted with record highs this week as US banking concerns increased, causing a flight to the safe-haven asset that was already being boosted by bets for a pause in US rate hikes.The spot price of gold was up 0.3% at $2,045.79 per o...

Oil Prices Jump after OPEC+ Producers Announce Unexpected Cuts

Oil Prices Jump after OPEC+ Producers Announce Unexpected Cuts

Oil prices surged on Monday after OPEC+ producers revealed surprise cuts to their output. Brent crude, the worldwide benchmark, leapt 5.31% to $84.13 a barrel, while the US benchmark, WTI, climbed 5.48% to $79.83. Both moves represented the largest o...

Oil Prices Rebound on Hopes of Increased China Demand

Oil Prices Rebound on Hopes of Increased China Demand

This year’s rollercoaster ride for oil prices continues, with prices recovering from a brief sell-off to gain last week, driven by renewed optimism around demand from top oil importer China.Brent crude futures rose 1.4% to settle at $86 a barrel. US...

Europe Avoids Energy Crisis as Natural Gas Prices Fall to 18-Month Low

Europe Avoids Energy Crisis as Natural Gas Prices Fall to 18-Month Low

Natural gas prices in Europe have slid to their lowest levels in almost a year and a half, a clear sign that the region has avoided a much-feared energy crisis.Benchmark wholesale gas prices dropped nearly 5% last week to hit $52 per megawatt hour, t...

Europe Bans Russian Diesel and Other Oil Products over Ukraine

Europe Bans Russian Diesel and Other Oil Products over Ukraine

The EU has slapped a ban on Russian diesel fuel and other refined oil products in a move designed to cut energy dependency on Moscow while also reducing the Kremlin’s fossil-fuel earnings.The ban comes as punishment over Russia’s invasion of Ukraine...

Europe Agrees to Cap Gas Prices

Europe Agrees to Cap Gas Prices

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

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

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

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

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

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

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...

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