Commodities news
Oil Prices Remain High on Supply Concerns
Responding to lingering concerns over supply, oil prices responded to strong short-term demand by trading at highs last seen in 2014. After last week’s trading, Brent crude futures reached $89.17 a barrel, its highest level since October 201...
Copper Prices Weak on Dollar Strength
Copper prices climbed at the end of the week’s trading, in keeping with a bounce from global equities. However, the commodity was still on a downward trend overall. The US Dollar’s rising strength, plus the growing anticipation of a pr...
Oil Price Consolidates Despite Lingering Omicron Fears
Oil prices rallied on Wednesday as investors monitored the rising number of cases of the Omicron COVID-19 variant. Although there is mounting evidence that Omicron produces milder symptoms, it is still highly transmissible. Spiraling case numbers in...
Climate Pledges Affecting Iron Ore Prices in China
China’s efforts to reduce its climate footprint resulted in a 12% drop in Asian Benchmark iron ore prices on the Dalian Commodity Exchange for 2021. Full-year iron ore futures prices declined for the first time in three years, after prices r...
Japan Joins Oil Sell-Off to Reduce Prices
Japan belatedly joined several major nations in selling oil from its strategic reserves in an attempt to fight rising prices. The unprecedented multi-state release of crude oil has been championed by the Biden administration and has included key O...
Gold Shows Gains Despite Omicron Risk
The price of gold bullion rose for the first time since mid-November as investors responded to tightening monetary policy and the threat of Omicron by making safe-haven investments in the commodity. Market analysts had warned that risk aversion wo...
US Oil and Natural Gas Prices Finally Come Down
US consumers struggling under the twin challenges of high inflation and elevated consumer prices are finally seeing some relief as the price of oil and natural gas comes down. The US national average price for a gallon of gas toppled to $3.35, a p...
OPEC Grows In Power Before Oil Cuts Hit
The Organization of the Petroleum Exporting Countries (OPEC) is expected to conduct its annual strategy meeting this week confident in its increasing short-term influence. As recently as 2019, the US became a net exporter of energy for the f...
European Gas Prices Surge on Russia Pipeline Delays
Russia’s Nord Stream 2 gas pipeline faced fresh commissioning delays as crucial approval from the German regulator was further delayed this week. European gas prices rose sharply on the back of this news, as the pipeline is now only ex...
Gold Fails to Protect Investors from Runaway Inflation
With inflation at a 31-year high and a 26-year record in the US and China, respectively, gold is not providing the protection it usually does. Gold Exchange-Traded Funds (ETF) are lagging. The SPDR Gold Trust (GLD), with $56.1 billion in assets, i...
Oil-Based Commodity Prices Soar on the Back Of COP26
The 2021 United Nations Climate Change Conference, also known as COP26, has seen politicians from several countries make ambitious pledges to reduce greenhouse emissions. Scores of world leaders signed a pledge to slash potent climate heatin...