Category: Commodities
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U.S. Oil and Gas M&A in Permian Basin Hits Record $100 Billion
The Permian Basin in the U.S. has witnessed a surge in oil and gas mergers and acquisitions this year, surpassing $100 billion in value. According to leading consultancy Wood Mackenzie, several multi-billion dollar deals have contributed to this milestone. Notably, Exxon Mobil is proposing a $60 billion deal to acquire Pioneer Natural Resources, while Chevron […]
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Oil Prices Steady Amid Economic Weakness in China and Upcoming Inflation Readings
Market Nervousness as China’s Economic Weakness Persists Oil prices in the Asian trading session on Tuesday showed little movement, as the market remained cautious due to further signs of economic weakness in China, the top importer of oil. This comes after recent data revealed a significant drop in Chinese oil imports, indicating that the country’s […]
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Houthi-launched Cruise Missile Strikes Tanker in Yemen, No Casualties Reported
A commercial tanker vessel was struck by a land-based cruise missile launched from Houthi-controlled Yemen, resulting in a fire and damage, but causing no casualties, according to two U.S. defense officials who spoke to Reuters. The incident occurred approximately 60 nautical miles north of the Bab al-Mandab Strait at around 2100 GMT. The USS Mason, […]
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California Air Regulators and Truck Manufacturers Reach Emissions Agreement for Cleaner Trucks
EPA Approval and Regulatory Stability In March, the U.S. Environmental Protection Agency (EPA) approved California’s proposal to mandate an escalating number of zero-emission heavy-duty trucks. To provide manufacturers with ample time for compliance, the CARB has committed to four years of lead time and at least three years of regulatory stability before imposing additional demands. […]
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Drought-driven drop in cattle herd leads to record-high prices for cattle futures
Cattle Futures Reach Record Highs Amid Drought Conditions in Southern US The Drought’s Impact on Cattle Supply Cattle futures have surged to a historic high due to drought conditions in the southwestern United States. The dry spell has ravaged the animals’ feeding areas, contributing to a decline in the size of the domestic cattle herd […]
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Gold Prices Remain Steady Amid Mixed Inflation Data and Uncertainty Over Monetary Policy
As the US announces plans to sell 26 million barrels of crude, oil futures fall. Following the announcement that the US government will move on with its plan to sell an additional 26 million barrels of crude oil from the Strategic Petroleum Reserve, oil futures prices fell on Tuesday. In order to honor its promise […]
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Stockpile Resurgence: Crude Oil and Fuel Inventories Continue to Grow
As the US announces plans to sell 26 million barrels of crude, oil futures fall. Following the announcement that the US government will move on with its plan to sell an additional 26 million barrels of crude oil from the Strategic Petroleum Reserve, oil futures prices fell on Tuesday. In order to honor its promise […]
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Gold Prices Dip in Volatile Trading Amid Slowing Inflation Rates
As the US announces plans to sell 26 million barrels of crude, oil futures fall. Following the announcement that the US government will move on with its plan to sell an additional 26 million barrels of crude oil from the Strategic Petroleum Reserve, oil futures prices fell on Tuesday. In order to honor its promise […]
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Oil Futures Take a Dip as U.S. Government Plans to Sell 26 Million Barrels of Crude
As the US announces plans to sell 26 million barrels of crude, oil futures fall. Following the announcement that the US government will move on with its plan to sell an additional 26 million barrels of crude oil from the Strategic Petroleum Reserve, oil futures prices fell on Tuesday. In order to honor its promise […]
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Oil Prices Take a Dip as US Inflation Surges Despite Interest Rate Hikes
After the Biden Administration announced further crude sales, oil prices fell. Following the Biden administration’s announcement of further petroleum sales from the American Strategic Petroleum Reserve, oil prices fell on Tuesday. At 9:00 ET (14:00 GMT), the contract slid 1.2% to $85.57 a barrel, while futures were trading 1.6% down at $78.90 per barrel. U.S. […]