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Commodities
Crude oil slumps to 2-month lows on Omicron concerns
November 29, 2021 02:59 AM AEDT| By AkshayCrude oil futures slumped to 2-month lows after the new COVID-19 variant spooked investors and added to the existing concerns relating to a possible supply glut in the oil markets. The new variant has been termed Omicron. Read Here: Can release of.....
Here’s how renewables will help Australians to save AU$77 a year
November 26, 2021 08:20 PM AEDT| By Arpit VermaHighlights The Australian EnergyMarket Commission (AEMC) predicts that the household electricity bills are likely to below AU$0.26 per kWh, the lowest since 2017. The typical household bills in Queensland are expected to drop by 10% by 202.....
Crude oil dips on the back of US-led emergency oil release
November 26, 2021 02:47 PM AEDT| By Arpit VermaHighlights Crude oil prices dipped on Thursday. OPEC believes that the US release is expected to increase the surplus by 1.1 million bpd. Oil watchers are now eagerly waiting for the meeting of OPEC and its allies, scheduled on 1-2 December. .....
Will the release of strategic crude reserves solve the demand-supply conundrum in oil market?
November 25, 2021 02:28 PM AEDT| By DaminiOil prices have exhibited increased volatility over the past few months amid various factors altering the demand-supply dynamics from all directions. Oil prices have rallied by over 58 per cent this year, backed by supply cuts from OECD and some de.....
Oil steadies as investors questioned SPR effectiveness
November 25, 2021 01:46 PM AEDT| By Arpit VermaHighlights Crude oil prices steadied on Wednesday. The US along with other oil consumers are expected to release oil from their strategic reserves. The US stockpiles rose by 1 million barrels in the last week. Crude oil prices steadied on.....
Crude oil rallies after leading oil consumers tap SPR
November 24, 2021 01:39 PM AEDT| By Arpit VermaHighlights Crude oil prices rose on Tuesday. The prices reached one-week high. Leading oil consumers are expected to release millions of barrels of oil from their strategic petroleum reserves (SPR) to cool down oil prices. Crude oil price.....
What to expect from copper prices in the months ahead?
November 24, 2021 01:29 PM AEDT| By DaminiCopper has staged a remarkable journey in 2021 so far, with the price of the commodity rising by over 25 per cent despite the virus crisis. Thanks to strong demand in China and a weaker US dollar, the price of copper exceeded US$10,000 a ton for th.....
Crude oil climbs up on indication that OPEC+ could reassess output
November 23, 2021 01:26 PM AEDT| By Arpit VermaCrude oil prices rose on Monday recording gains on previous losses on the news that OPEC along with its allies may rethink their plans of increasing production if leading economies release crude oil from their strategic reserves or if coronavirus p.....
Commodity wrap-up for the week that was
November 22, 2021 03:55 PM AEDT| By Team Kalkine MediaHighlights Crude oil ended the week with substantial losses on reports of a potential release of strategic reserves by leading oil consumers of the world. Earlier during the last week, gold prices hit a five-month high. The prices of magnesium.....
Crude oil tumbles on Europe’s COVID-19 surge
November 22, 2021 12:17 PM AEDT| By Arpit VermaHighlights Crude oil prices tumbled on Monday. Japanese Prime Minister is ready to release oil from its strategic reserves to cool down oil prices. Crude oil prices surged more than 60% in 2021 as OPEC+ decided to gradually increase their outp.....
Crude oil dips as China readies crude reserve release
November 19, 2021 01:40 PM AEDT| 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 18, 2021 01:09 PM AEDT| 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 17, 2021 01:08 PM AEDT| 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 16, 2021 12:51 PM AEDT| 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 15, 2021 01:14 PM AEDT| 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 12, 2021 04:18 PM AEDT| 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 12, 2021 01:25 PM AEDT| 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 11, 2021 02:42 PM AEDT| 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 11, 2021 01:26 PM AEDT| 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 10, 2021 04:22 PM AEDT| 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 .....
