Stories tagged “Commodities.”
30 stories
Mexico Is Betting on Biofuel to Tackle Its Seaweed Crisis
Mexico is exploring the conversion of sargassum seaweed, which is inundating its Caribbean coast, into biofuel. This initiative aims to address both an environmental crisis and create a new, sustainable energy source.
Oil Traders Reprice Hormuz Risk as Demand Outlook Deteriorates
Oil traders are reassessing the risk premium associated with the Strait of Hormuz due to deteriorating global demand forecasts. Despite ongoing geopolitical tensions, the market's focus is shifting from potential supply disruptions to the weakening economic outlook.
High Oil Prices Deliver a Windfall for China’s Coal-to-Chemicals Industry
China's coal-to-chemicals industry is experiencing a significant boost due to persistently high global oil prices, making coal-based production more economically competitive.
Greenlandic authorities have delayed a US oil company, Greenland Energy, from drilling in the Arctic territory, citing environmental and social impact concerns and an incomplete regulatory process. This defies earlier claims by a US envoy linked to Donald Trump that oil e…
Hungary’s Nuclear Power Returns as Rain Lifts Danube Water Levels
Hungary's Paks nuclear power plant has fully resumed operations after recent rainfall increased water levels in the Danube River, which are crucial for its cooling systems.
A Ukrainian drone strike on a Russian refining hub resulted in 12 fatalities, marking a significant escalation in attacks targeting Russia's energy infrastructure.
ADNOC Gas Unveils $8.2 Billion Expansion Push
ADNOC Gas plans to invest $8.2 billion in domestic and international growth projects over the next five years, aiming to boost its processing capacity and expand its global footprint.
ADNOC Buys 11 Supertankers for $1.3 Billion to Expand Export Fleet
ADNOC has acquired 11 supertankers for $1.3 billion to expand its export fleet, a move aimed at increasing its global market share.
China’s Crude Imports Bounce Back After Historic June Slump
China's crude oil imports rebounded significantly in July, reaching 43.69 million metric tons, or 10.29 million barrels per day, after experiencing a historic slump in June.
German yields hold steady at 3-week lows as easing oil cools ECB hike bets
German government bond yields stabilized near three-week lows as a recent decline in crude oil prices tempered market expectations for aggressive European Central Bank rate hikes.
India Hopes To Take Over Operation Of Venezuelan Oil Fields From PDVSA
India is hoping to take over the operation of Venezuelan oil fields from PDVSA, a move that could have significant implications for the global oil market. The Indian government is reportedly in talks with Venezuelan officials to assume control of the country's oil fields,…
U.S. Moves to Keep Tungsten Scrap and Battery Metals at Home
The U.S. government is implementing new measures to restrict the export of critical materials like tungsten scrap and battery metals, aiming to bolster domestic supply chains.
German yields drop to 3-week lows as easing oil cools inflation bets
German government bond yields fell to three-week lows as declining energy costs and reduced geopolitical tensions eased inflation concerns, prompting a rally in European sovereign debt.
US crude oil inventories have built up as Washington talks up a potential peace deal. The development has led to a surge in oil prices, with WTI crude rising by 6.30% and Brent crude by 5.98%. The increase in oil prices is attributed to the escalation of the conflict in t…
Iron Ore Prices Hit One-Year Low as China Demand Slump Deepens
Iron ore prices have hit a one-year low due to a slump in demand from China, a major consumer of the commodity. The decline in prices is attributed to a decrease in steel production in China, which has led to a reduction in iron ore imports.
BP Earnings Surge to $5.7 Billion on Oil Price and Refining Boom
BP's earnings surged to $5.7 billion, driven by oil price and refining boom. The company's profits more than doubled in the quarter, with Shell also reporting a bumper buyback.
Germany’s Energy Demand Falls as High Prices Hit Oil Consumption
Germany's energy demand has decreased, with oil consumption particularly affected by high prices. This trend indicates a significant shift in consumer behavior and industrial activity.
Venezuela’s Oil Exports Fall Even as U.S. Shipments Hit Seven-Year High
Despite a seven-year high in U.S. oil shipments, Venezuela's overall oil exports have declined, signaling challenges in its production and export capabilities.
Yen strengthens after Japan, US coordinated intervention
The yen rose against the dollar and euro on Monday following coordinated intervention by Japan and the United States last week to support the Japanese currency. Japan's Finance Ministry said Monday that Tokyo and Washington conducted coordinated yen-buying intervention an…
AI’s Electricity Demand Is Not the Real Problem. Its Inflexibility Is
AI's electricity demand is not the primary concern, but rather its inflexibility in responding to changes in electricity supply.
Moroccan fertilizer giant OCP, a global leader in phosphate fertilizers, faced significant challenges due to the Middle East crisis and the Strait of Hormuz blockade, leading to a 30% production cut and declining financial performance. Despite this, the group asserts its …
Ghana forecasts 16% fall in cocoa production following bad weather and disease
Ghana anticipates a 16% drop in cocoa production for the upcoming season due to erratic weather, crop disease, and illegal gold mining, raising concerns about global cocoa supplies.
Global Coal Consumption Hits Record Even as Coal Power Declines
Global coal consumption reached a new record in 2023, primarily driven by industrial demand in Asia, even as its use for electricity generation declined in many regions.
ADNOC Unveils New Crude Pricing Mechanism
Abu Dhabi National Oil Company (ADNOC) is overhauling its crude oil pricing, shifting from a retroactive system to a forward pricing mechanism benchmarked against the ICE Futures Abu Dhabi (IFAD) Murban crude futures contract.
Houthis Claim Attack on Saudi Oil Tanker in Red Sea
The Houthis have claimed an attack on a Saudi oil tanker in the Red Sea, which has led to a surge in oil prices. The attack has caused a significant increase in shipping costs for crude oil, with the Red Sea tanker traffic hitting a multi-month low.
Binance is launching European-style options on gold and silver, settled in USDT via its ADGM-regulated Nest Exchange, after strong demand for its metals perpetual futures.
Oil Prices Surge on Fresh Middle East Strikes and API Crude Draw
Oil prices surged on fresh Middle East strikes and a sharp API crude draw, with WTI crude rising 3.05% to $82.31 and Brent crude increasing 3.30% to $87.39. The sharp draw in API crude stocks has contributed to the price increase, with the OPEC basket also falling 8.54% t…
The U.S. Army Just Called China’s Bluff in the Rare Earth War
The U.S. Army has made a significant move in the rare earth war by calling China's bluff. The rare earth elements are crucial for the production of advanced technologies, and the U.S. Army's move is seen as a strategic attempt to reduce China's dominance in the market.
Oil Prices Ignore the Warning Signs in Physical Markets
Oil prices are ignoring warning signs in physical markets, with crude oil inventories building up despite the Hormuz disruption. This has led to a surge in oil prices, with Brent crude reaching $84.09 and WTI crude at $82.66.
API Reports Sharp U.S. Crude Stock Draw as SPR Hits New Low
The U.S. crude oil inventories have built up again despite the disruption in the Hormuz Strait. The Strategic Petroleum Reserve (SPR) has hit a new low. This has led to a sharp U.S. crude stock draw.