Energy news

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Oil rally wanes, gold edges higher

Oil rally finally losing momentum Oil has been on a remarkable run in recent weeks driven by very bullish fundamentals as disrupted supply struggled to keep up with strong demand. OPEC and the IEA have referenced the resilience of demand since the emergence of omicron in recent weeks and the inability of OPEC+ to hit their production targets, or even come close, has led to the kind of one way price action we've been witnessing. While the fundamentals haven't changed, it does appear that we're

20-01-2022 10:15 GMT by Craig Erlam

Oil's one-way move, gold breakout,

Oil keeps rolling It appears that crude prices are still on a one-way street headed towards USD 100 oil. The improving demand outlook and vulnerable supply situation suggest the oil market will remain tight for the foreseeable future. It seems like the list of disruptions to supply keeps on growing, in the past week the following countries have been impacted: Libya, the US (North Dakota), Peru, Iraq to Turkey, UAE, and Kazakhstan. The lack of investment in new wells suggests the oil market wi

19-01-2022 15:38 GMT by Edward Moya