Commodities News

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 this week. ...

Western countries are tapping more of their emergency oil reserves to help wean themselves off Russian crude. The International Energy Agency (IEA) said this week it would supply the oil market with 60 million additional barrels of crude from its ...

The global economy continued to give mixed signals as it battled with the fallout from Russia’s invasion of Ukraine and lingering high inflation. US stocks slipped Monday just as shares dropped in China, Hong Kong and South Korea. The S&P ...

Global wheat prices hit an all-time high last week. Wheat supplies from Russia and Ukraine, which together account for almost 30% of global wheat trade, are starting to dwindle. Another major looming problem is access to fertilizers. Global fertilizer company ...

Gold continues to play a key role in the global economy, first in the fight against inflation and now in Russia’s invasion of Ukraine. The metal fell by the biggest margin in seven months amid a large selloff in commodities ...

Stocks around the world tumbled as the US and its allies mulled over banning Russian oil, a last-ditch move that could have devastating effects on the global economy. Oil prices soared to their highest level in 13 years, prompting widespread ...

The price of London copper rose on Monday as investors continued to look for a hedge against inflation, which shows no sign of cooling down. The three-month copper price on the London Metal Exchange (LME) climbed 0.4% to $9,899.5 a ...

The price of gold tumbled for a fourth consecutive session on Monday, pushing the precious metal toward its biggest monthly fall in nearly six months. The drop was fueled by a strengthening US Dollar that continued to rise on the ...

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 2014. US West ...

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 pre-emptive ...

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 several countries have ...

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 ...

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 OPEC members. ...

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 would take ...

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 ...