Energy news

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Oil and gold head south

Oil prices collapse on UAE/OPEC comments Oil’s volatility reached new levels of insanity overnight, with Brent crude trading in a USD 25 intra-day range. Oil prices were moving lower on Ukraine compromise hopes already from earlier in the day, when the UAE comments about asking OPEC+ to raise production to send oil prices into a tailspin.

10-03-2022 05:56 GMT by Jeffrey Halley

The Texas whipsaw massacre

Markets remain turbulent Volatility continues to be the winner overnight, particularly in the commodity space as the street engaged in its latest grasping at straws attempt to price in “peak-Ukraine.” European equity markets got the ball rolling, hoovering up equities on Ukraine-Russia reproachment hopes ahead of a meeting between the two sides in Turkey today. Ukraine’s President also said yesterday morning that he was open to neutrality and not joining NATO.

10-03-2022 04:31 GMT by Jeffrey Halley