Oil prices fell on Monday as worries over China’s economy resurfaced after a survey showing growth in factory activity slipped sharply in the world’s second-largest oil consumer, with concerns compounded by higher crude output from OPEC producers. Brent crude oil futures slid by 87 cents, or 1.15%, to $74.54 a barrel by 1145 GMT after Read More
Oil prices fell on Friday but remained on track to post weekly gains with demand growing faster than supply, while vaccinations are expected to alleviate the impact of a resurgence in COVID-19 infections across the globe. Brent crude futures for September , which expire on Friday, had dropped 6 cents, or 0.1%, to $75.99 a Read More
Europe’s top energy companies signalled confidence in a lasting recovery from the pandemic impact by drawing on higher oil prices to boost shareholder returns and reassure investors as they roll out risky climate strategies. After swiftly cutting spending and jobs in response to the unprecedented collapse in energy demand last year, executives from Royal Dutch Read More
Copper prices are set to extend their retreat from record highs in the coming months, under pressure from rising mine supply and China’s drive to cap commodity prices, a Reuters poll found. Benchmark copper soared to a record peak of $10,747.50 a tonne in May, partly propelled by speculators betting that strong demand from electric Read More
Oil prices fell $1 on Monday as concerns about fuel demand caused by the spread of COVID-19 variants as well as changes to import rules in China offset expectations of tight supplies through the rest of the year. Brent crude futures for September fell 97 cents, or 1.3%, to $73.13 a barrel by 0850 GMT Read More
Gold prices steadied on Friday after hitting a more than one-week low in the previous session, as a retreat in U.S. bond yields and weak economic data countered a stronger dollar. Fundamentals Spot gold was flat at $1,806.08 per ounce, as of 0047 GMT, after hitting its lowest since July 12 at $1,791.16 on Thursday. Read More
London copper prices fell on Wednesday, dented by a stronger dollar which rose on worries about climbing COVID-19 cases worldwide. Three-month copper on the London Metal Exchange fell 0.5% to $9,2792 a tonne by 0732 GMT. The most-traded August copper contract on the Shanghai Futures Exchange tracked overnight gains in London to close up 0.2% Read More
Saudi Arabia was China’s biggest crude oil supplier in June for the eighth consecutive month, customs data showed on Tuesday, while shipments from United Arab Emirates and Kuwait fell further, possibly signalling slower imports of Iranian oil. Arrivals of Saudi Arabian crude oil reached 7.2 million tonnes last month, equivalent to 1.75 million barrels per Read More
Recent Comments