Category: Gold and Commodities

Artificial Chocolate Attempts to Sidestep Cocoa’s Biggest Problems

December 6, 2022
Business & Marketschocolatecocoa supply chainCompanieseconomyGold and CommoditiesMarkets
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A new start-up is trying create the perfect fake chocolate that tastes the same as the real thing. Some chocolate fans are reportedly concerned about the ethical relationship between the cocoa industry, deforestation, and use of child labor. A new British food company claims that it has created a “guilt-free alternative to chocolate that can…

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Russia’s January-November Oil Output up 2 Percent Ahead of EU Ban, Price Caps

December 6, 2022
Business & Marketseconomic policieseconomyenergyEuropeGold and CommoditiesMarketsOiloutputRussiaRussia-Ukraine WarWorld
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MOSCOW—Russia’s January-November oil and gas condensate production rose 2.2 percent from a year earlier to 488 million tonnes, the Interfax news agency said on Tuesday, citing Deputy Prime Minister Alexander Novak, who expects a slight output decline following new sanctions. European Union countries that have been primary buyers of Russian crude for decades stopped buying…

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Oil Prices Fall on Higher US Dollar, Economic Fears

December 6, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell in a volatile market on Tuesday, as a stronger U.S. dollar and economic uncertainty offset the bullish impact of a price cap placed on Russian oil and prospects of a demand boost in China. Brent crude futures fell 90 cents, or $1.09 percent, to $81.78 a barrel by 1055 GMT. West Texas…

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Stocks Slip, Dollar up as Data Challenges Fed Pause Hopes

December 6, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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SINGAPORE/LONDON—Global stocks headed for a third straight day of losses on Tuesday and the dollar rose after more U.S. data reinforced the belief among investors that the Federal Reserve might stick longer with aggressive interest rate rises. MSCI’s world index fell 0.3 percent, led by tech stocks which are often more sensitive to broader shifts…

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Closing Prices for Crude Oil, Gold and Other Commodities (Dec. 5)

December 5, 2022
Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for January delivery fell $3.05 to $76.93 a barrel Monday. Brent crude for February delivery fell $2.89 to $82.68 a barrel. Wholesale gasoline for January delivery fell 8 cents to $2.20 a gallon. January heating oil fell 17 cents to $3 a gallon. January natural gas fell 70 cents to $5.58…

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G7 Price Cap on Russian Oil Kicks In, Russia Will Only Sell at Market Price

December 5, 2022
Business & Marketseconomic policieseconomyenergyEuropeG7Gold and CommoditiesMarketsOilRussia-Ukraine WarRussianUkraineWorld
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BRUSSELS—The Group of Seven price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow’s ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut production. The price cap, to be enforced by the…

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Russia Says Oil Price Cap Won’t Stop It From Financing Ukraine War Effort

December 5, 2022
Business & Marketscrisiseconomic policieseconomyenergyEuropeGold and CommoditiesMarketsOilRussiaRussia-Ukraine WarUkraineWorld
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LONDON—Russia said on Monday that a Western price cap on its oil would destabilize global energy markets but would not affect its ability to sustain what it calls its “special military operation” in Ukraine. Kremlin spokesman Dmitry Peskov said Russia was preparing its response to Friday’s move by the G7 and allies, which was aimed…

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Oil Prices Rise After OPEC+ Keeps Output Steady, Russian Price Cap Imposed

December 5, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and a G7 price cap which kicked in on Russian crude. At the same time, in a positive sign for fuel demand in the world’s top oil importer, more Chinese cities eased COVID-19 curbs over the…

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World Shares Mixed, Oil Higher After Russia Price Cap Pact

December 5, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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World shares were mixed and oil prices rose Monday after the European Union and the Group of Seven democracies agreed on a boycott of most Russian oil and committed to a price cap of $60 per barrel on Russian exports. Germany’s DAX slipped 0.3 percent to 14,490.99 and the CAC 40 in Paris lost 0.2…

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Russia Says ‘Dangerous’ Price Cap Won’t Curb Demand for Its Oil

December 3, 2022
Business & Marketscapeconomic policieseconomyenergyEuropeGold and CommoditiesMarketsOilpriceRussiaRussia-Ukraine WarWorld
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Russia said on Saturday it would continue to find buyers for its oil, despite what it said was a “dangerous” attempt by Western governments to introduce a price cap on its oil exports. A coalition of Western countries led by the G7 group of nations agreed on Friday to cap the price of Russian seaborne…

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