Commodities News

Spot Silver gains with focus set on FOMC minutes

Spot Silver rose on Wednesday on the back of a softer US Dollar and also underpinned by safe haven buying, as focus sets on the minutes of the Federal Reserve’s January policy meeting due out later in the day. The FOMC minutes could provide more clues regarding the timing of the central bank’s potential interest […] Read more

Spot Gold stuck in narrow range ahead of US CPI, Fed speakers

Spot Gold traded mostly flat at the start of an eventful week, as market focus sets on the US consumer inflation data and on speeches by a host of Federal Reserve officials. At least 7 Fed representatives are scheduled to make speeches this week, following last week’s remarks that the US central bank wants more […] Read more

WTI Crude gains for 4th day with Gaza ceasefire talks in focus

Futures on US West Texas Intermediate Crude Oil rose for a fourth straight trading day on Thursday, as Israel rejected a ceasefire offer from Hamas, while US gasoline stocks decreased last week. Israel’s Prime Minister Benjamin Netanyahu has rejected Hamas’ most recent offer for a ceasefire and return of hostages held in the Gaza Strip. […] Read more

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

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

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

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

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

WTI Crude set for weekly gain as investors weigh geopolitical tensions, supply forecasts

Futures on US West Texas Intermediate Crude Oil were on course to register a 1.9% weekly advance, as market players continued weighing geopolitical tensions and latest oil supply projections. Yesterday Pakistan launched strikes on separatist militants on Iranian soil in retaliation two days after Tehran said it had hit the bases of another group in […] Read more

Philippines temporarily prohibits Japanese poultry imports

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

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