Commodities News

This from Bloomberg, citing analysts at Citi.  In a recession scenario, Brent crude oil prices could fall back down to $65/bbl on their way to the bottom of the cost...

The oil and gas industry is "under siege" OPEC Secretary General Mohammad Barkindo said on Tuesday. After years of underinvestment on a global scale, the oil and gas industry is...

Crude oil prices fell by nearly 7% on Tuesday as fears of a recession mount—a scenario that could put a dent in oil demand.  The plummeting price action comes as Saudi Arabia...

I don't know if anyone had some fun with this one from last week: Oil technical analysis - daily chart prints a reversal candle - unleash the bear? There were two comments on...

Oil and gas companies have emerged as the only bright spot in a deeply bearish U.S. stock market, thanks to soaring commodity prices fuelled by the war in Ukraine. The S&P 500...

Russia’s lower house of parliament approved on Tuesday amendments in the country’s tax code that would slap a windfall tax on Gazprom of the equivalent of $20 billion between...

Wall Street analysts sharply increased their Exxon Mobil Corp (XOM.N) second-quarter profit estimates on Tuesday, after the largest U.S. oil producer projected it could almost...

Dutch and British wholesale gas prices rose on Tuesday morning as flows from Russia dipped and strikes at Norwegian oil and gas infrastructure added to concerns over supply. The...

Saudi Arabia, the world’s top oil exporter, raised August crude oil prices for Asian buyers to near record levels amid tight supply and robust demand. The official selling price...

Global natural gas consumption is expected to contract slightly in 2022 and grow slowly over the following three years as Russia’s war in Ukraine pushes up prices and fuels fears...

Russia’s former president Dmitry Medvedev said on Tuesday a reported proposal from Japan to cap the price of Russian oil at around half its current level would lead to...

Surging gasoline prices in the U.S. are showing signs of impact on consumption, according to one risk analyst. “We’re starting to see some signs of demand destruction, particularly...

Norwegian offshore workers on Tuesday began a strike that will reduce oil and gas output, the union leading the industrial action told Reuters. The strike, in which workers are...

Iran’s refining capacity has increased by more than 480,000 bpd from 2011 to 2021, according to OPEC’s Annual Statistical Bulletin. Iran’s refining capacity in 2011 was reported to...

ExxonMobil’s slew of major oil discoveries in offshore Guyana since 2015 has seen the deeply impoverished former British colony become a hotspot for offshore drilling activity....

A lack of major oil discoveries and meager proven reserves of 2 billion barrels saw Colombia look to hydraulic fracturing as a means of securing the future of its economically...

Concerns about a recession and a drop in energy demand led to a drop in U.S. benchmark West Texas Intermediate crude-oil prices below the $100 -a-barrel mark on Tuesday for the...

Oil futures fell sharply on Tuesday, with U.S. prices below the $100-a-barrel mark - at their lowest in more than two months, pressured by strength in the U.S. dollar and concerns...

To be honest, I don't think this strike had much of an effect on oil to begin with. In any case, Reuters is citing a union leader who says it's over and that the government has...

New York billionaire and refiner John Catsimatidis, who owns hundreds of gas stations, blasted President Joe Biden’s pinning the blame on high prices at the pump on gas station...

Gold futures dropped by more than 2% on Tuesday to settle at their lowest price of the year so far. The yellow metal fell along with silver, copper, and other commodities amid a...

The energy sector took a broad beating in afternoon trading Tuesday, as crude oil and natural gas prices took sharp dives on the back of a surge in the U.S. dollar and continued...

By Marianna Parraga and Mircely Guanipa (Reuters) – The first Venezuelan crude cargoes sent to Europe in two years helped lift the OPEC nation’s oil exports by 61% last month...

British Prime Minister Boris Johnson said on Monday OPEC+ must produce more oil to try to tackle a growing cost-of-living crisis and bring down prices. “There is no doubt that we...

Despite serious supply problems in the market, oil prices crashed on Tuesday morning due to renewed recession fears and the prospect of demand destruction. Whilst most of 2022...

West Texas intermediate crude oil is on pace to close below $100 a barrel for the first time since May.

Oil prices may tumble to $65 per barrel by the end of this year and to as low as $45 a barrel by the end of 2023 if the world enters a recession that would crash fuel demand,...

J.P. Morgan and Citigroup have two very different predictions on where the price of oil is headed

Tanker operators willing to ship Russian crude are making a substantial amount of money sending Russian crude to China from Russia’s Far East. According to data compiled by...

Leaders like Biden should propose a long-term plan to stabilize energy production and prices, not a contradictory short-term political fix

Saudi Arabia on Tuesday raised again the price of its oil going to Asia in August to close to record differentials, in a widely expected move that tracks strong refining margins...