Crude oil price paused on its downtrend in Thursday’s intraday trade after hitting a fresh three-week low earlier in the session. A weaker US dollar helped offset some losses from the previous session by rendering the commodity less expensive for buyers holding foreign currencies. Nonetheless, it remains under selling pressure as the market digests the
India’s ambitious foray into the green hydrogen economy is currently facing significant headwinds, with a recent assessment from a US-based energy think tank highlighting critical impediments to its progress. The core of the problem lies in the disappointingly slow pace of project commissioning. This sluggishness is primarily attributed to a dual challenge: first, a pervasive
The global market for raw sugar is currently experiencing a significant downturn, with prices plummeting to levels not seen in half a decade. Last week, the price of raw sugar touched a five-year low, reaching 14 US cents per pound, and has shown minimal recovery since that time. This decline is part of a broader,
Stablecoins are no longer confined to crypto trading platforms. Tether Holdings SA, the issuer of the world’s most circulated stablecoin USDT, is entering the world of physical goods by reshaping how traders finance global shipments of commodities like oil, wheat, and cotton. A Bloomberg report states that with $1.5 billion already issued in loans, the
Canadian pipeline operator Enbridge is greenlighting a C$1.8 billion ($1.4 billion) expansion of its Mainline and Flanagan South pipelines, allowing even more heavy crude to flow from Canada into the US Midwest and Gulf Coast. The decision to move ahead was announced on Friday, and the company is framing the project as a strategic upgrade that will
Gold prices slumped more than 3% on Friday as a December interest rate cut by the US Federal Reserve looks less likely. Silver prices on COMEX plunged over 5%, tracking losses in the yellow metal. Silver has gained sharply over the last few sessions, and had overshadowed gold’s rise. Oil prices on the other hand,
Toronto-listed miner Gold Reserve (GRZ.V) filed a lawsuit against Rusoro Mining (RML.V), alleging the company violated its contract under a consortium agreement in a multi-billion dollar auction for the owner of US refiner Citgo Petroleum. The under seal filing is the latest twist in a complicated legal and financial struggle over the US assets of PDV
Western sanctions targeting Russian oil major Lukoil have forced the company to declare force majeure at the massive West Qurna-2 oilfield in Iraq. Lukoil have declared force majeure, citing operational hurdles created by the restrictions, according to a Reuters report. In a coordinated move demonstrating continued international pressure, both the US and Britain recently announced
The oversupply in the oil market is likely to result in lower prices for the rest of the year. “The Brent oil price is likely to end 2025 with an annual decline, provided there is no increase of more than USD 10 in the remaining weeks,” Carsten Fritsch, commodity analyst at Commerzbank AG, said. Given
Oil prices rose slightly on Tuesday as concerns over the latest US sanctions on Russian supply raised fears among investors. Meanwhile, gold prices continued to rise with investors betting on the US Federal Reserve to cut interest rates at their next meeting. Silver also gained on Tuesday, tracking the movement in gold prices. Silver actually