Category: Gold and Commodities

Enjoy the Modest Dip in Gas Prices While It Lasts

July 24, 2022
Business & MarketsBusiness ColumnistseconomyenergyExecutive Branchgas pricesGold and CommoditiesMarketsOpinionPoliticsUSViewpoints
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Commentary “We’ve been working really hard to bring the price down,” a COVID-stricken President Joe Biden claimed regarding gasoline prices in a virtual meeting with some of his energy and economic aides on Friday. It begs the question: how hard did he and his team work to bring the price of gas up over his…

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Ukraine Says Russian Missiles Hit Odesa Port; Landmark Grain Deal at Risk

July 23, 2022
Business & MarketscrisisEuropeGold and CommoditiesgrainMarketsOdesaRussiaRussia-Ukraine WarUkraineWorld
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KYIV—Russian missiles hit the major port of Odesa in southern Ukraine on Saturday, the Ukrainian military said, dealing a blow to a deal signed on Friday to unblock grain exports from Black Sea ports. The landmark deal signed by Moscow and Kyiv on Friday is seen as crucial to curbing soaring global food prices, easing…

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Fertilizer Cargo From Russia Heads to US as Many Worry About Food Shortages

July 23, 2022
Business & Marketseconomic policieseconomyfertilizerGold and CommoditiesMarketsRussiaUS
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HOUSTON/WASHINGTON—A tanker carrying a liquid fertilizer product from Russia is about to arrive in the United States, sources and vessel tracking data showed in recent days, at a time of widespread worry that sky-high global fertilizer prices could lead to food shortages. President Joe Biden’s administration has not blacklisted Russian agricultural commodities, including fertilizers, in…

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Closing Prices for Crude Oil, Gold and Other Commodities (July 22)

July 22, 2022
Benchmark U.S. crudeBrightBusiness & MarketsgoldGold and CommoditiesMarketspersonal finance
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Benchmark U.S. crude oil for September delivery fell $1.65 to $94.70 a barrel Friday. Brent crude for September delivery fell 66 cents to $103.20 a barrel. Wholesale gasoline for August delivery rose 7 cents to $3.22 a gallon. August heating oil fell 13 cents to $3.46 a gallon. August natural gas rose 37 cents to…

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Nord Stream Flows Stable, Eastbound Yamal Flows Decline

July 22, 2022
Business & MarketseconomyenergyEuropeGasGold and CommoditiesMarketsNordRussiaRussia-Ukraine WarstreamUkraineWorldYamal
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LONDON—Physical flows of Russian gas through Nord Stream 1 pipeline to Germany remained stable on Friday, while eastbound gas flows via the Yamal-Europe pipeline to Poland from Germany declined, operators’ data showed. On the Nord Stream AG website, physical flows were at 29,191,527 kWh/h for 0700-0800 CET (0500–0600 GMT), compared with levels around 29,000,000 kWh/h…

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Oil Prices Fall as Libya Resumes Output, Global Demand Outlook Darkens

July 22, 2022
Business & MarketseconomyenergyglobalGold and CommoditiesMarketsOilrecessionstocks
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LONDON—Oil prices fell on Friday on a weakening global demand outlook and the resumption of some Libyan crude oil output. Brent crude futures fell $1.02 to $102.84 a barrel by 1023 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down $1.08 cents to $95.27 a barrel. The global economy looks increasingly likely to…

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World Stocks Eye 6th Day of Gains but Euro Hit as Activity Sours

July 22, 2022
Business & MarketsCompaniescryptocurrencyeconomic policieseconomyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global stocks edged up on Friday, eyeing a sixth day of gains, while weak eurozone business activity data hit the euro and weighed on the bloc’s debt. The MSCI World index, its broadest gauge of equity markets, was last up 0.1 percent in early European trade, with the Euro STOXX 50 index up 0.2 percent….

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Beijing Creates New State-Owned Iron Ore Giant to Weaken Australian Miners

July 21, 2022
Asia & PacificAustraliaBHPBusiness & MarketsChinaChina Business & EconomyChina Mineral Resources GroupChina-Australia RelationsCompaniesenergyGold and CommoditiesInternationalInternational Relationsiron oreMarketsRio TintoWorld
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In a bid to gain control over iron ore prices, Beijing has created a new state-owned mineral giant that will be responsible for exploration and mass bulk buying of the commodity. The move will be aimed at giving China greater bargaining power over major iron ore producers like Australia’s BHP and Rio Tinto, who will…

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Closing Prices for Crude Oil, Gold and Other Commodities (July 21)

July 21, 2022
Benchmark U.S. crudeBrightBusiness & MarketsgoldGold and CommoditiesMarketspersonal finance
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Benchmark U.S. crude oil for September delivery fell $3.53 to $96.35 a barrel Thursday. Brent crude for September delivery fell $3.06 to $103.86 a barrel. Wholesale gasoline for August delivery fell 13 cents to $3.15 a gallon. August heating oil fell 1 cent to $3.59 a gallon. August natural gas fell 7 cents to $7.93…

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Oil Prices Slump as Stockpiles and Rate Hikes Stoke Demand Fears

July 21, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell by more than $5 on Thursday after higher U.S. gasoline stockpiles and an ECB rate hike stoked demand worries and returning oil supply from Libya eased supply concerns. Brent crude futures lost $3.88, or 3.6 percent, to $103.04 a barrel by 1224 GMT after slipping 0.4 percent in the previous session. U.S….

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