Commodities News

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 one-day ...

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. ...

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 ...

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 ...

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 the price ...

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 became active.In October, ...

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 continent, leapt ...

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 months. ...

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 ...

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 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 predicted that the average fare price for a ...

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 ...

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 ...

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 ...

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 ...