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.

Oil slips, CPI could make or break gold

Oil slips after retracing back to previous trend lows Oil prices are slipping on Wednesday after partially recovering over the last four days. Crude ran into resistance around the bottom of the December-March range lows which suggests, for now at least, traders are not of the view that OPEC+ output cuts fully offset the difficulties that lie ahead for the global economy which will ultimately weigh on demand. Further action by the cartel or calmer conditions in US banks could see oil prices bounc

10-05-2023 08:08 GMT by Craig Erlam

Oil gets bullish alongside gold, Bitcoin wavers

Russia claims to come close to delivering on oil cut pledge in April Gold gets groove back as debt ceiling worries simmer Bitcoin hovers near bottom of recent trading range Oil Crude prices went on a rollercoaster ride as energy traders watched a deteriorating demand outlook get countered by some bullish supply news from both the Biden administration and Russia. Oil was lower after disappointing trade from China supported concerns their recovery post-Covid lockdowns continues to disappoint. WT

09-05-2023 15:23 GMT by Edward Moya