Energy news

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Energy traders eye OPEC+ supply cuts, gold rallies as yields tank

Oil Energy traders are widely awaiting the next OPEC+ meeting that will likely make sure the oil market remains tight. Oil is back above the $80 level on seasonal stockpiling, some resilience in the economy that is delaying recession risks, and mostly on expectations OPEC+ will cut production between 500k and 1 million bpd.

28-09-2022 12:51 GMT by Edward Moya

Oil pares gains, gold loses ground

Oil rebound brief as gas spikes amid sabotage on Nord Stream pipelines Oil prices rebounded on Tuesday but that proved to be only a brief correction as economic doom and gloom has driven them lower again this morning. With Brent trading only a little above $80 and WTI below, you have to wonder how much more OPEC+ will tolerate and the size of output cut they may be considering next week in light of the new economic outlook and price. Gas prices have also been highly volatile in light of the late

28-09-2022 04:06 GMT by Craig Erlam