Category: Gold and Commodities

Russian Gas Cut to Europe Hits Economic Hopes, Ukraine Reports Attacks on Coastal Regions

KYIV—Russia said it will cut gas supplies to Europe from Wednesday, while missile attacks in Black Sea coastal regions raised doubts about whether Russia will stick to a deal to let Ukraine export grain. The first ships from Ukraine may set sail in days under a deal agreed on Friday, the United Nations said, despite…


Ukraine Says Russia Increased Gas Pipeline Pressure Without Prior Notice

Russian gas giant Gazprom has sharply increased pressure in the pipeline that delivers Russian gas to Europe without prior notice, the Ukrainian state pipeline operator company said on Tuesday. Such pressure spikes could lead to emergencies including pipeline ruptures, and pipeline operators are obliged to inform each other about them in advance, the Ukrainian company…


Oil Rises for a Second Day on Supply Tightness Concerns

LONDON—Oil prices rose on Tuesday for a second day on increasing concerns about tightening European supply after Russia, a key energy supplier to the region, cut gas supply through a major pipeline. Brent crude futures rose $1.14, or 1.1 percent, to $106.29 a barrel by 1029 GMT, extending a 1.9 percent gain the previous day….


Global Stocks Mixed Ahead of Expected US Rate Hike

BEIJING—Global stock markets were mixed Tuesday as investors braced for another sharp interest rate hike by the Federal Reserve to cool inflation. London and Shanghai advanced while Tokyo and Frankfurt declined. Oil rose nearly $2 per barrel. Wall Street futures were lower after the benchmark S&P 500 index gained 0.1 percent on Monday. This week’s…


Global Gasoline Cracks Collapse, Blow to Refiners’ Profits

A sudden crash in global gasoline prices in the past two weeks has dented refiners’ profits, pushing up inventories in key trading hubs around the world while looming exports from China and India also add to pressure on growing stockpiles. Refiners will be forced to cut gasoline output to safeguard themselves against losses and switch…


Closing Prices for Crude Oil, Gold and Other Commodities (July 25)

Benchmark U.S. crude oil for September delivery rose $2 to $96.70 a barrel Monday. Brent crude for September delivery rose $1.95 to $105.15 a barrel. Wholesale gasoline for August delivery rose 16 cents to $3.38 a gallon. August heating oil rose 6 cents to $3.52 a gallon. August natural gas rose 43 cents to $8.73…


Lavrov Offers Reassurance Over Russian Grain Supplies in Cairo Visit

CAIRO—Russia’s Foreign Minister Sergei Lavrov offered reassurances over Russian grain supplies to Egypt during a visit to Cairo on Sunday, amid uncertainty over a deal to resume Ukrainian exports from the Black Sea. Egypt is one of the world’s top wheat importers and last year bought about 80 percent of those imports from Russia and…


Oil Steady as Market Juggles Fed Hike With Supply Fears

LONDON—Oil prices were relatively steady on Monday as the market balanced supply fears with expectations that rise in U.S. interest rates would weaken fuel demand. Brent crude futures for September settlement rose 27 cents, or 0.26 percent, to $103.47 a barrel by 0909 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 8 cents,…


Stocks Weaken as Growth Slowdown Fears Cloud Start of Week

LONDON—Stocks headed lower on Monday with investors in a cautious mood ahead of the Federal Reserve’s two-day policy meeting and what could be the latest central bank signal of an even faster pace of tightening just as signs of a global slowdown mount. Overall, the start of the week across markets began quietly, with the…


Wheat Prices Surge After Russian Missiles Strike Odesa Following Grain Deal

Wheat prices rose on Monday shortly after Russian forces struck the southern Ukrainian port of Odesa. Chicago wheat futures surged as much as 4.6 percent, before dropping to trade 3.1 percent higher at $7.82 1/4 a bushel by 3:21 p.m. in Singapore. Corn futures rose as much as 2.8 percent on Monday before seeing a decline in gains…