Commodities News

For the first time in decades, China’s oil and gas demand declined in 2022 as the strict Covid policies curtailed economic growth and mobility. This year, demand is set to rebound...

After the recent profit-taking on higher oil prices prompted by China’s reopening, traders are once again crowding oil and fuel futures and options. The reasons: China, again, and...

Europe has just won the first part of its winter war, with warmer-than-expected weather helping the continent to avoid a full-blown energy and gas crisis. The region has just...

Crude oil inventories rose by another 6.33 million barrels last week, the American Petroleum Institute (API) data showed on Tuesday, on top of last week’s 3+ million barrel build....

The Western-invoked price cap on Russian refined products coming into effect on February 5 won’t “severely impact” Russian refiners, WoodMac said on Tuesday. Mark Williams,...

Oil futures climbed on Tuesday, but U.S. benchmark prices posted a loss for the month ahead Federal Reserve monetary policy decision and a committee meeting of the Organization of...

Gold futures ended with a gain on Tuesday and tallied a third consecutive monthly gain. Gold rose for the session “after another round of economic data showed the labor market is...

Via AG Metal Miner   As with many base metals, aluminum prices rose at the beginning of January. While it is true that China raising aluminum export taxes could have impacted...

The UK’s oil and gas industry should have taken the chance to invest in new projects instead of fighting the windfall tax, the boss of a North Sea oil and gas producer has said....

The oil company reported record annual earnings of $55.7 billion for 2022 in its quarterly results.

Russian Prime Minister Mikhail Mishustin has signed an agreement demanding that all Russian oil companies comply with a previous order that disallows any exports of Russian crude...

Libya’s Oil Ministry has rejected the huge $8-billion deal that the Italian energy giant signed with the Libyan National Oil Corporation (NOC) this weekend, saying that the...

Oil majors are rounding up the 2022 financial year with outstanding profit numbers, a development that faces strong backlash from the Biden Administration. Chart of the Week...

ExxonMobil (NYSE: XOM) reported on Tuesday $55.7 billion in earnings for 2022 in a record-breaking earnings tally for any Western oil supermajor ever. Exxon said today it generated...

The upcoming EU ban on fuel imports from Russia, as well as Germany and Poland halting pipeline imports of Russian crude at the start of January, pushed Russian seaborne crude oil...

Gold futures declined for a second day on Tuesday as traders braced for Wednesday's Fed decision along with data on unemployment and wages.

Europe’s benchmark gas prices have rebounded this week as traders closed short positions at the expiry of the front-month contract and some weather forecasts suggested colder...

Oil futures lose ground as investors await this week's Federal Reserve decision on interest rates.

The biggest sovereign wealth fund in the world, Norway’s $1.3-trillion Government Pension Fund Global, slightly lowered its stakes in the world’s top Western oil firms last year,...

Norway's sovereign wealth fund on Tuesday reported a record loss of 1.64 trillion kroner ($164 billion) in 2022.

Crude oil prices have found a floor and the only way they can go from here would be higher. That’s according to RBC commodity analysts Helima Croft and Michael Tran, as quoted by...

The International Monetary Fund has added a dose of optimism to oil markets by revising its global economic growth outlook to reflect a lowered risk of a slowdown. In its latest...

Annual global gold demand last year, excluding OTC trading, reached its highest since 2011, according to a World Gold Council report released Tuesday.