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 rally continues, gold choppy

Fundamentals remain bullish for crude Oil prices are trading back around their highest levels since late October after another surge on Tuesday. The rally continues as OPEC continues to miss output targets and Libya reportedly struggles to ramp up production again.

12-01-2022 10:44 GMT by Craig Erlam

Oil and gold rally after Powell remarks

Oil prices leap higher after Powell testimony Oil prices rocketed higher overnight as the Powell testimony removed the threat of early rate hikes, for now, allowing the fundamentals of constrained OPEC+ production, and an omi-gone variant recovery, to reassert themselves with a vengeance. Brent crude rocketed 3.25% higher to USD 83.60 a barrel, while WTI leapt 3.65% higher to USD 81.25 a barrel.

12-01-2022 05:35 GMT by Jeffrey Halley