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Spot Silver hovers above 2-week low with focus on Fed speakers

February 7, 2024 8:23 am
Spot Silver fell on Wednesday, erasing gains from the prior trading day while hovering above a two-week low ahead of speeches by Federal Reserve officials throughout the week that could provide further clues on the timing of potential interest rate cuts. Yesterday Fed representatives said that if the economy performed in line with expectations, this […] Read more

Spot Gold surges on Middle East tensions, FOMC meeting eyed

January 29, 2024 8:26 am
Spot Gold surged on Monday, underpinned as a safe haven by mounting worries over situation in the Middle East. Geopolitical risks heightened after 3 US service members were reportedly killed in an unmanned aerial drone strike on US forces located in northeastern Jordan. Risk aversion was also bolstered after a court order to liquidate property […] Read more

Drax to establish carbon removal business

January 25, 2024 10:40 am
UK’s Drax said that it intended to establish an independent business with a focus on delivering large-scale and high-integrity carbon removal. The new entity will be operationally separate within the Drax Group and will be based in Houston, US. The business will be headed by Laurie Fitzmaurice, a senior energy infrastructure expert who has almost […] Read more

Low-emissions power generation to meet demand growth

January 24, 2024 10:48 am
The International Energy Agency said in a report on Wednesday that power generated from low-emissions sources – wind, solar and nuclear, would be sufficient in order to meet growth in global demand over the upcoming three years. The IEA said that electricity generation from low-emissions sources would account for nearly 50 percent of global power […] Read more

Philippines temporarily prohibits Japanese poultry imports

January 18, 2024 10:21 am
The Philippines’ farm ministry announced on Thursday that poultry imports from Japan had been temporarily prohibited because of an outbreak of avian influenza. The Philippines’ Agriculture Minister Francisco Tiu Laurel said that the import ban was required in order to protect the local poultry population from exposure to the H5N1 avian flu strain. “Only wild […] Read more

China lifts 5-year ban on Belgian pork imports

January 12, 2024 11:40 am
China has lifted a five-year ban on pig and pork products imported from Belgium, which was put in place due to an outbreak of African swine fever in 2018. Belgium’s exports of pig and pork products to China must meet statutory inspection and quarantine requirements, the General Administration of Customs and the Ministry of Agriculture […] Read more

Spot Gold weakens on firmer US Dollar ahead of US CPI data

January 8, 2024 8:52 am
Spot Gold retreated on Monday, set to extend the 0.84% loss from the previous week, ahead of the key US CPI inflation report on Thursday that could affect Federal Reserve’s rate outlook. The yellow metal came under pressure last week, as investors pared expectations of sizable and early interest rate cuts by the Fed this […] Read more

Saudi Arabia may slash Arab Light price premium next month

January 3, 2024 8:44 am
The world’s top oil exporter, Saudi Arabia, may cut price premiums on all crude grades it sells to Asian nations to lowest in a year in February, despite escalating tensions in the Red Sea. According to a report by Reuters, citing knowledgeable sources, the official selling price for Saudi Arabia’s flagship Arab Light crude over […] Read more

Qatar, Shell ink five-year crude oil supply deal

December 28, 2023 9:46 am
According to a report by Reuters, Qatar has agreed to supply Shell in Singapore with up to 18 million barrels of oil per year under a five-year deal. QatarEnergy said that it would supply Shell International Eastern Trading Company with Qatar Land and Qatar Marine crude oil over the course of five years, beginning in […] Read more