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 jumps, gold under pressure

Oil markets remain volatile Oil prices spiked overnight, led by a combination of Shanghai reopening, potential gas supply disruption through Ukraine, Russian sanctions on EU energy entities and a plunge in gasoline inventories in the US. Brent crude rose 5.90% to USD 107.50, and WTI leapt 6.60% higher to USD 105.50 a barrel.

12-05-2022 04:40 GMT by Jeffrey Halley

Oil pullback ends, gold steadies

Oil Energy traders are bullish on oil prices again as China’s COVID situation shows signs of improving and after the dollar eased following a hot inflation report that did little to change short-term Fed rate hiking expectations. The oil market can’t justify oil prices below USD 100 given the potential shock that will occur once the EU is able to move forward with their ban on Russian crude.

11-05-2022 12:02 GMT by Edward Moya