Commodities Category

OPEC Reduces Global Oil Demand Growth Forecast Due to Russia-Ukraine Conflict The Organization of Petroleum Exporting Countries (OPEC) lowered its prediction for global oil demand growth in 2022 on Tuesday, citing the impact of Russia’s invasion of Ukraine, growing inflation as crude prices rise, and the recurrence of the Omicron coronavirus variety in China. In

As Treasury rates climb, gold prices end lower Gold prices fell in range-bound trading on Monday, as rising Treasury rates bolstered the dollar and offset support from the Ukraine crisis, while palladium gained following London’s move to halt trade of the metal from Russia. By 0730 GMT, spot gold was down 0.2 percent at $1,942.85

Oil prices plummet as a result of China’s lockdowns, and reserves are released Oil prices fell $2 a barrel in early Asian trade on Monday, marking the second consecutive weekly decrease after world consumers revealed intentions to release a record volume of crude and oil products from strategic storage, and as China lockdowns remained in

Imports of fuel oil from Latin America surge ahead of Russia’s planned reduction According to customs statistics, record amounts of fuel oil from Latin America arrived in the United States in March, as refiners sought alternatives to Russian feed stocks ahead of Washington’s April 22 deadline to cease Russian oil imports. Last month, US Gulf

Long-term deal with China has been signed by a US LNG exporter In the most recent contract between American and Chinese companies, Next Decade Corporation inked another long-term agreement for a U.S. exporter to supply liquefied natural gas (LNG) to China on Wednesday. ENN LNG (Singapore) Pte Ltd, a wholly-owned subsidiary of China’s ENN Natural