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.

US Open: Stocks rebound, Jobless Claims decline again, Block tumbles, BOE/SNB/Norges all hike, Turkey holds, Tesla rallies, Oil higher, Gold recaptures $2000, Bitcoin faces massive resistance at $30k

US stocks are rising as Wall Street digests what might be the Fed’s last rate hike and Secretary Yellen’s comment on blanket deposit insurance. The post-Fed selloff came from Yellen’s comment that they haven’t looked at backing all bank deposits with FDIC insurance. This was bad news for the banks and contagion fears. Yellen’s comment at a Senate panel hearing should be taken with a grain of salt given a decision to back all deposits would need congressional support. Optimism should remain th

23-03-2023 10:36 GMT by Edward Moya

Oil dips lower, gold gets boost from dovish Fed

Signs of permanent damage in oil? Oil prices are a little lower today after gradually recovering in recent days. While no one can say with confidence that a banking crisis has been averted, there is growing confidence that the actions taken by central banks, regulators, and governments have significantly reduced the odds of one, particularly a severe scenario, and that is ultimately good for the economy and crude demand. So while we saw Brent and WTI plunge to late-2021 levels amid the panic of

23-03-2023 05:10 GMT by Craig Erlam