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.

Asia, once again, buys the oil dip

Oil prices held steady overnight, led by the perception of diminishing Ukraine risks and a positive meeting between the leaders of Saudi Arabia and the United Kingdom. The platitudes handed out to Boris Johnson in Riyadh conveniently overlook the fact that the Saudis are committed to OPEC+ and are not able to unilaterally boost production within that framework.

17-03-2022 06:28 GMT by Jeffrey Halley

Fed React: Powell is finally ready to take on inflation, Retail Sales revisions, Oil lower, Gold tumbles, Bitcoin higher

US stocks went on a rollercoaster ride after a hawkish FOMC statement initially sent risky assets lower, but then turned positive after Fed Chair Powell tentatively convinced markets they will not be too late with fighting inflation. Much of today went as expected with the Fed raising rates by 25 basis points and addressing how the war in Ukraine is driving additional inflationary pressures. The Fed’s 2022 forecast for inflation was raised from 2.6% to 4.3%.

16-03-2022 15:49 GMT by Edward Moya