Energy news

Energy commodities are essential fuels that power modern society. Explore key energy sources like crude oil, natural gas, coal, and emerging renewable energies. Learn about their global impact on the economy and environment.

Chart alert: WTI crude is entrenched in a minor downtrend below 20-day and 50-day moving averages

WTI crude oil prices remain under pressure after a sharp May selloff driven by improving US-Iran ceasefire negotiations and easing geopolitical tensions around the Strait of Hormuz. WTI has turned into the worst-performing major asset class in May 2026, with technical indicators pointing to continued near-term weakness. Price action remains trapped below the 20-day and 50-day moving averages within a descending channel, exposing further downside risks toward key support levels.

29-05-2026 10:24 GMT by Kelvin Wong

Asia open: S&P 500 nabs records on US - Iran ceasefire extension amid Hot PCE inflation shock

The S&P 500 and Nasdaq reached fresh record highs after the US and Iran extended their ceasefire agreement, improving global risk sentiment and easing energy market tensions. However, hotter-than-expected US core PCE inflation at 3.3% y/y reinforced expectations for prolonged restrictive Federal Reserve policy. Meanwhile, the AI infrastructure boom continued to dominate markets as major technology firms delivered strong earnings and funding milestones.

29-05-2026 04:03 GMT by Kelvin Wong