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Commodities
Crude oil hits record high levels on skying demands
October 11, 2021 06:49 PM PDT| By Arpit VermaHighlights Crude oil prices rose on Monday. The prices rose to record high levels on the back of robust demand and lower supplies due to cutbacks from producing nations. Power prices across the globe surged to record high levels in the past fe.....
Here’s how skying fuel prices are triggering global power crisis
October 11, 2021 05:38 PM PDT| By Arpit VermaVarious countries across the globe are facing an acute power crisis as the supply of coal, natural gas, and other energy sources are failing to fulfil the burgeoning electricity demand. Prices of natural gas have increased manifolds to reach multi-.....
Indian ministry says it has ample coal stocks to lit power plants
October 10, 2021 08:38 PM PDT| By Arpit VermaHighlights Indian coal ministry stated that it has ample coal stocks in its reserves to fulfill the demand for the power sector. The shortage of coal has created a supply crunch of fuel in various eastern and northern states of the country. Th.....
US crude hits 7-year highs amid higher gas-to-oil switching
October 10, 2021 08:02 PM PDT| By Arpit VermaHighlights Crude oil prices further rose on Monday. The prices have recorded significant gains during the last week. Oil’s rally is underpinned by soaring gas prices. OPEC+ decided to increase the output gradually. Crude oil prices.....
Oil falls as the US decides to sell oil from its strategic reserves
October 07, 2021 07:17 PM PDT| By Arpit VermaHighlights Crude oil prices dipped on Thursday. The US is considering options to sell out oil from its strategic reserves. Crude oil prices have been weighted by a higher-than-expected crude oil inventory in the last week. Crude oil price.....
Crude oil tumbles after hitting record highs
October 06, 2021 06:34 PM PDT| By Arpit VermaHighlights Crude oil prices tumbled nearly 2% on Wednesday. The US crude inventories rose unexpectedly against the expectations for a significant drop. The overall production in the US has increased by nearly 11.3 million bpd followed by a rec.....
Miners made commitments to attain neutrality by 2050
October 05, 2021 07:58 PM PDT| By Arpit VermaHighlights The top miners of the world are committed to the goal of limiting direct and indirect emissions by 2050 or earlier. Miners are under pressure from environmentalists and shareholders related to environmental emissions. Direct and ind.....
Oil hits multi-year highs on OPEC’s plan to gradually increase output
October 05, 2021 07:56 PM PDT| By Arpit VermaHighlights Crude oil prices hit multi-year highs on Tuesday. OPEC+ agreed on Monday to adhere to their original strategy planned in July to boost the output by 400,000 bpd per month. Record high prices of gasoline have also encouraged various .....
How OPEC’s decision is fuelling crude oil rally
October 05, 2021 06:58 PM PDT| By Arpit VermaHighlights WTI Crude oil prices surged to a nearly seven-year high on Tuesday. The demand for crude oil is rising as the winter approaches the Northern Hemisphere. OPEC+ had agreed in July to increase the output by 400,000bpd each month until .....
Iron ore futures dip amid intense emission curbs in China
October 04, 2021 07:15 PM PDT| By Arpit VermaHighlights The prices of iron ore plummeted to record low levels on the back of an ongoing power crunch in China. More than four-fifths of the country's steel mills have suspended their operations in September for maintenance. Australia believ.....
Crude oil hits three-year highs on robust demand recovery
October 04, 2021 06:25 PM PDT| By Arpit VermaHighlights Crude oil prices jumped to three-year highs on Monday. OPEC+ sticks to its plan for gradually increasing the output amid stronger demand for petroleum products. The decision of the cartel to increase production gradually has pushed .....
US natural gas futures hit seven-year highs
September 30, 2021 08:37 PM PDT| By Arpit VermaHighlights The prices of US natural gas futures surged significantly. The market deficit in Europe has pumped the US gas supplies to record high levels. US utilities added nearly 88 billion cubic feet of gas into storage in the week ending 24 .....
Crude oil steadies on China’s plan to buy more oil
September 30, 2021 07:11 PM PDT| By Arpit VermaHighlights Crude oil prices traded nearly flat on Thursday. China plans to buy more oil to meet its rising energy demand. US crude oil inventories have risen with recovery in the Gulf Coast operations. Crude oil prices traded nearly flat .....
Extraordinary coal price rally to drive Australian resource exports to $349 Billion
September 29, 2021 10:55 PM PDT| By Anam SiddiquiHighlights Australian resources and energy exports are forecast to hit A$349 billion in 2021–22, up from A$310 billion in the previous year. Coal is witnessing significant demand, driven by global economic recovery, while supp.....
Oil dips on rising US crude inventories
September 29, 2021 08:25 PM PDT| By Arpit VermaHighlights Crude oil prices dip on Wednesday. US crude stockpiles rose significantly by 4.6 million barrels during the last week. The production in the US has failed to reach 2019 levels. Crude oil prices dip on Wednesday followed by a ra.....
Copper dips on the second consecutive day over China’s power crisis
September 29, 2021 08:19 PM PDT| By Arpit VermaHighlights Copper dips on Wednesday due to the ongoing power crisis in China. China’s ongoing power crisis is expected to affect the global supply and demand. A rise in the US dollar has also weighted copper prices as a higher US dollar .....
Is Australia ready to conquer the global critical material sector?
September 29, 2021 02:46 AM PDT| By Arpit VermaHighlights Australia is the world’s leading producer of lithium and holds a significant position in the production of iron ore, lead, zinc, nickel, and gold. Critical metals are the most important components required for the development o.....
Brent crude dips after hitting three-years high level
September 28, 2021 09:38 PM PDT| By Arpit VermaHighlights Brent crude oil prices dip on Tuesday after hitting a record high level of US$80 per barrel. Leading oil-producing nations are struggling to increase their production amid the global rise in energy demand. The disruptions caused by .....
Copper dips on the strong dollar and China's power crisis
September 28, 2021 09:36 PM PDT| By Arpit VermaHighlights Copper prices dip on Tuesday due to the impacts of the China power crisis. A rise in the US dollar has also made copper more expensive for other currency holders. Copper inventories at the Shanghai Future Exchange continued to deple.....
Dalian iron ore climbs up on power curbs
September 27, 2021 07:35 PM PDT| By Arpit VermaDalian iron ore futures gained more than 5% on Monday with prices hitting above CNY700 level. At the same time, the prices of steel rebar and hot-rolled coils surged significantly due to production limitations on power curbs. January delivery iron .....
