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.

Must the BoE now consider larger rate hikes? Fed on course to pause? Oil bounces back

A truly devastating jobs report for BoE policymakers It's not often that you would refer to a jobs report that delivers a drop in unemployment, record employment and a rise in wages as horrible, but that is exactly what the Bank of England will be feeling today. The central bank has raised interest rates for the last 12 meetings in a row and yet the economy is showing the kind of resilience that few would have anticipated. This creates an enormous headache for the MPC as it desperately wants t

13-06-2023 14:17 GMT by Craig Erlam

Oil bounces back, gold slips after CPI report

Oil bounces back amid more favourable developments Oil prices are staging a comeback today, perhaps buoyed by the softer inflation data which may open the door to the end of the Fed's tightening cycle and enable the soft landing it always hoped for. That said, there may be a technical element to it as well, with the price having traded around its 2023 lows in the run-up to the release. There was always likely to be two bullish cases for crude and this only slightly aids one of those.

13-06-2023 14:13 GMT by Craig Erlam