September 22, 2023 11:06 am
Mitsui & Co and Northland Power Inc have finalized a plan to establish a 1 gigawatt offshore wind farm in Taiwan, which is expected to cost JPY 960 billion ($6.5 billion). The project, which is 60% owned by Northland and 40% owned by Mitsui, is expected to be completed by the end of 2026 to […]
Read moreSeptember 20, 2023 9:43 am
Any disruption in gas supply can potentially cause price spikes as the market is “still very tight”, Irene Rummelhoff, Equinor’s head of marketing, midstream and processing, said during an energy conference in Oslo. She cited the strikes at Chevron’s liquefied natural gas sites in Australia as an example. As a result, gas prices in Europe […]
Read moreSeptember 19, 2023 9:54 am
Futures on US West Texas Intermediate Crude Oil gained for a fourth straight trading day on Tuesday, after weak US shale production added to supply deficit concerns. Both WTI Futures and Brent Futures have surged for three successive weeks, while trading in proximity to ten-month highs. According to the US Energy Information Administration, US oil […]
Read moreSeptember 15, 2023 9:21 am
Copper Futures touched highs unseen since September 5th on Friday and looked set to register a 2.6% weekly gain on optimism over China’s economic recovery. The latest set of macro data revealed industrial activity strength in the largest copper-importing nation worldwide, which could drive demand for the industrial metal. China’s industrial output expanded 4.5% year-on-year […]
Read moreSeptember 13, 2023 12:49 pm
The oil production cut extension by Saudi Arabia and Russia to the end of the year will lead to a considerable market shortfall through the fourth quarter, the International Energy Agency (IEA) said in its monthly report. Both WTI Crude Oil and Brent Oil Futures registered highs unseen since November 2022 this week, after Saudi […]
Read moreSeptember 11, 2023 11:34 am
Copper Futures surged more than 1% on Monday, underpinned by an upbeat set of macro data coming out of China, the largest copper importer worldwide. Data by the National Bureau of Statistics of China showed over the weekend that the country had registered positive inflation in August, following the first deflation reading in more than […]
Read moreSeptember 7, 2023 9:35 am
Having registered a seven-day streak of gains, futures on US West Texas Intermediate Crude Oil retreated on Thursday, as demand concerns related to possible winter period slowdown countered prospects of tighter supply from extended output cuts. WTI Futures had risen earlier this week after Saudi Arabia and Russia extended voluntary production cuts to the end […]
Read moreSeptember 1, 2023 12:33 pm
Futures on US West Texas Intermediate Crude Oil were set to register their first weekly advance in three weeks, underpinned by prospects of tightening supply. Saudi Arabia is largely expected to extend a voluntary production cut of 1 million barrels per day into October in addition to curbs engineered by the OPEC+ group. Also, Russia’s […]
Read moreAugust 31, 2023 9:29 am
Mining company Impala Platinum said on Thursday that it had raised its metals production forecast for the 2023/2024 full year, as it draws benefits from recent asset acquisitions from Royal Bafokeng Platinum. Those acquisitions are expected to “materially alter” the company’s production profile, as it forecasts an increase in platinum-group metals output to between 3.3 […]
Read moreAugust 30, 2023 9:58 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior four trading days on Wednesday, as a substantial drop in US crude stocks last week indicated firm demand. The most recent data by the American Petroleum Institute showed crude oil inventories had decreased by 11.486 million barrels in the week ending August […]
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