The United States is increasingly becoming a major player in the global crude oil trade, as record exports to Europe and China this month show. This growth is solidifying the United States’ role in supplying Europe with crude oil, following Russia’s invasion of Ukraine. While Occidental and BP declined to.
According to Jeff Currie, global head of commodities for Goldman Sachs, the banking crisis in March will lead to a commodities supercycle driven by China and capital flight from energy markets. The U.S. bank’s head of commodities spoke at the Financial Times Commodities Global Summit and noted that “as losses.
Oil prices drifted lower on Tuesday as concerns over banking turmoil persisted, dampening market confidence. Brent crude futures for May delivery fell by 1%, or 73 cents, to $73.06 per barrel at 0736 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down 0.8%, or 56 cents, to $67.08.
Introduction Gold prices rallied sharply in the past week as growing fears of a U.S. and European banking collapse spurred heavy flows into traditional safe-haven assets. In addition, bets that the Federal Reserve will lack the economic headroom to keep raising rates have dented the dollar, further fueling the surge.
Gold prices have surged in the past week, with the metal rallying by more than 10% since March 8. This surge has been driven by the international banking crisis that has taken over the financial markets. As traders try to find refuge in the most traditional safe-haven asset, they.
Iraq’s Prime Minister, Mohammed Shia al-Sudani, and OPEC Secretary General, Haitham Al Ghais, recently highlighted the importance of coordination among oil-exporting nations to maintain stable prices that do not negatively affect both exporters and consumers. The statement was released by the Iraqi government, as Iraq is a founding member of.
Gold prices were trading just below their 11-month highs on Monday as markets reacted to emergency liquidity measures from major central banks in response to concerns about a potential banking crisis. The Federal Reserve, the European Central Bank, and other central banks announced measures to boost liquidity for the banking.
What led to the decline in oil prices? Oil prices have fallen, reversing early gains, as investors worry about weakening demand and a potential economic slowdown. This concern has caused a mass liquidation of oil longs over the past week, resulting in the worst weekly loss in the market this.
China’s aluminium imports from Russia more than tripled in the first two months of this year, according to customs data released on Monday. The figures show a 266.2% surge in imports from Russia, as Chinese buyers turn to the country to meet their rising demand for the metal, and Western.
Silver prices remained steady in a multi-day trading range, showing positive traction on Friday. The confluence support level of $21.65-$21.70 has the potential to push prices higher, indicating prospects for additional gains. However, a convincing break below the $21.00 mark is required to negate the current positive bias. Investors in.
British Columbia’s recent decision to toughen emissions standards for new liquefied natural gas (LNG) projects has set a high hurdle for the industry while creating one of the most robust climate plans in North America. The move comes as many countries, including the United States and China, are looking to.
Oil prices suffered significant losses this week as fears about the potential impact of the ongoing banking crisis on the global economy took hold. By 09:45 ET (13:45 GMT) on Friday, U.S. crude futures had dropped 2.1% to $66.90 per barrel, while the Brent contract had fallen 2.1% to $73.11.