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Commodities
Crude oil dips as China readies crude reserve release
November 18, 2021 06:40 PM PST| By Arpit VermaHighlights Crude oil prices slumped on Thursday. China gets ready to release crude oil from its strategic petroleum reserves. The release of oil from the US and China is likely to drive the oil prices lower, at least temporarily. Crude oi.....
Crude oil hits six-week low on recuperated supply concerns
November 17, 2021 06:09 PM PST| By Arpit VermaHighlights Crude oil prices slumped on Wednesday. The US urged other major oil consumers like Japan and China to consider a coordinated release of oil reserves to bring down oil prices. The US has considered announcing an emergency release of .....
Oil settles mixed on tight stocks & demand slumps amid rising COVID-19 cases
November 16, 2021 06:08 PM PST| By Arpit VermaHighlights Crude oil settled mixed on Tuesday. The US crude stocks were anticipated to rise in the fourth consecutive week. OPEC and its allies reduced their crude oil demand forecast by 330,000 for the last quarter of 2021. Crude oil pri.....
Oil settles mix amid fresh rise in COVID-19 cases in China, Europe
November 15, 2021 05:51 PM PST| By Arpit VermaCrude oil prices settled mixed on Monday on the back of strong dollar and rise in COVID-19 cases. January delivery Brent Crude oil futures last traded at US$82.15 per barrel up 0.07%, whereas January delivery WTI crude oil futures traded 0.13% down.....
Crude oil records third consecutive weekly loss followed by a volatile week
November 14, 2021 06:14 PM PST| By Arpit VermaEnergy producers of the world could have a poor start to the week after oil prices tumbled on Friday. The prices wiped out the gains of the previous session on worries that the US Federal Reserve will boost its plan to enhance interest rates to tam.....
Iron ore prices slump on improved supply, lower demand
November 11, 2021 09:18 PM PST| By Arpit VermaHighlights China forced its steel mills to lower their output during the winter season ahead of Beijing's Winter Olympics. Australia and Brazil have started to loosen tight supplies of iron ore in the seaborne market. The prices of iron ore ar.....
Crude oil settles higher despite a strong dollar
November 11, 2021 06:25 PM PST| By Arpit VermaHighlights Crude oil prices settled higher on Thursday. The prices of crude oil rose significantly after OPEC cut its 2021 oil demand forecast. The US data showed that consumer price inflation rose by the fastest rate in the last 30 years at 6.....
European Auribis to invest €300M in US copper recycling plant
November 10, 2021 07:42 PM PST| By Arpit VermaHighlights Aurubis AG is ready to invest nearly €300 million to build a copper recycling plant in the US. The plant is expected to process 90,000 tonnes of complex wastes. The project is expected to create more than 100 jobs in the region.....
Crude oil dips on rising US dollar
November 10, 2021 06:26 PM PST| By Arpit VermaHighlights Crude oil prices tumbled on Thursday. Both the benchmarks dropped sharply at the end of the session as traders sold riskier assets including commodities and stocks. Consumer inflation data showed that the US prices were rising at a .....
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Copper futures tumble on worries about Chinese property crisis
November 09, 2021 09:22 PM PST| By Arpit VermaHighlights Copper prices tumbled on Tuesday due to an ongoing property crisis in China. However, the prices of the red metal grew a day earlier on Monday as the country's export growth beat forecasts. Ease in power crunch and .....
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Crude oil reaches 2-week high on rising demand
November 09, 2021 07:39 PM PST| By Arpit VermaHighlights Crude oil reached two-week high levels on Tuesday. Crude oil prices started rallying after the US Energy Information Administration (EIA) projected in its Short-Term Energy Outlook. EIA&nb...
Crude oil climbs up on positive signs of global economic growth
November 08, 2021 07:58 PM PST| By Arpit VermaHighlights Crude oil prices rose on Monday. The significant increase in the prices is due to the robust energy demand and lower supplies. Saudi Arabia on Friday raised the prices of its benchmark crude for Asian customers in December. Cru.....
Commodity wrap-up for the week that was
November 08, 2021 06:02 PM PST| By Team Kalkine MediaThe global commodity sector continues to consolidate, resulting in a lower Bloomberg Commodity Index for a third straight week. Various data from several sources, notably from China, point to slow growth expectations and have forced investors to be.....
China’s crude oil imports plunge to three-year lows in October
November 07, 2021 05:50 PM PST| By Arpit VermaHighlights China’s crude oil imports plunged to the lowest level since September 2018. the country has brought 37.8Mt crude oil in the last month which is equivalent to nearly 8.9Mbpd. Piped LNG and other natural gas imports were 9.38Mt .....
Iron ore rebounds after dipping below US$100 per tonne
November 03, 2021 10:10 PM PDT| By Arpit VermaHighlights Iron ore prices recovered after tumbling below US$100 per tonne. The prices of metal reached multi-year high levels in May 2021. China is strictly trying to limit its carbon emissions, as a part of the country's long-term goal to at.....
Crude oil dips to 4-week low on rising US stockpiles
November 03, 2021 06:25 PM PDT| By Arpit VermaHighlights Crude oil reached a four-week low level on Wednesday. The US records higher than expected crude oil inventories. Gasoline stockpiles dipped to their lowest level since November 2017. Crude oil prices tumbled to four-week lows o.....
Crude oil inches lower ahead of OPEC+ meeting
November 02, 2021 06:28 PM PDT| By Arpit VermaHighlights Crude oil has surged more than 60% in 2021. The prices are currently playing near three-year high levels. OPEC+ meeting is scheduled on Thursday to discuss further crude oil production. Crude oil traded below US$85 per barrel o.....
Gold price firms up on dip in the US dollar
November 01, 2021 07:29 PM PDT| By Arpit VermaHighlights Gold prices rose on Monday. An ease in the strength of the US dollar pushed the prices of bullion. The strong performance of US equities has dampened the demand for a safe haven. Gold prices rose on Monday with ease in the stre.....
JCB inks multi-billion-dollar deal to supply hydrogen from Australia to the UK
October 31, 2021 09:10 PM PDT| By Arpit VermaThe construction equipment company, JCB has inked a multi-billion-dollar deal with Australia’s Fortescue Future Industries (FFI) to import and supply green hydrogen from Australia to the UK. Hydrogen fuel | Source: © Mrdoomits | Megap.....
Saudi Aramco records best quarterly since listing on higher oil prices
October 31, 2021 07:06 PM PDT| By Arpit VermaHighlights Saudi Aramco has released its third quarter results ending 30 September 2021. The Company has recorded a net income of US$30.4 billion during the period. The huge profits of Aramco are underpinned by a rapid increase in the prices o.....
