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 surges, lower US yields boost gold

Oil prices soar overnight Russian President Putin shocked the energy markets on Wednesday when he directed that payments for Russian natural gas by “unfriendly nations” must be paid for in roubles. The announcement and the full closure of the Caspian Pipeline Consortium’s (CPC) pipeline by Russia sent European natural gas prices 30% higher, and also aggressively lifted crude prices, helped by lower official US Crude Inventories.

24-03-2022 05:35 GMT by Jeffrey Halley

Oil soars, gold looks for direction

Oil surges amid further supply issues Oil prices are more than 5% higher after Russia confirmed that oil exports via the Caspian Pipeline Consortium (CPC) will fall by around a million barrels a day for up to two months as a result of storm damage. This comes at a time of significant tightness in the market and could contribute to further increases in the price in the coming weeks. That is of course unless other producers step up and utilise the spare capacity in order to prevent oil prices fr

23-03-2022 12:56 GMT by Craig Erlam