Other Commodities
OPEC plans less oil production in 2024
The expanded Organization of Petroleum Exporting Countries (OPEC+) decided at a meeting in Vienna to produce less oil in the coming year. The oil cartel had already announced in April that it would cut production, but this had little impact on the oil price.
Protests at Thyssenkrupp: Steelworkers demand state subsidies
The thyssenkrupp steelworkers' union is preparing for protest actions to be held on June 14. The reason is fears of reduced government subsidies for a German Green Steel plant worth 2 billion euros.
Platinum market faces massive deficit: carmakers secure coveted metal
According to recent reports, the global platinum market is set to enter its largest deficit in years due to rising demand from automakers, the industry and investors. This marks a significant change in the trajectory of platinum and its sister metal palladium, …
Oil prices rise due to economic optimism
Oil prices are on the upswing again after falling steadily over the past three weeks for the first time since November. Brent oil futures rose 43 cents, or 0.6%, to $75.73 a barrel on Monday, while U.S. West Texas Intermediate (WTI) crude futures also rose 45 …
Shell and Equinor earnings exceed forecasts
Energy giants Shell and Equinor beat their first-quarter earnings expectations. Both companies used leverage from their trading divisions to offset lower oil and gas prices. The trend continues in the industry after Exxon Mobil, Chevron and BP also posted …
Gold prices remain stable above USD 2,000
Gold prices remained just above the key USD 2,000 per ounce level on Wednesday as investors turned their attention to the Federal Reserve's interest rate decision. Spot gold traded in a narrow range of USD 5.48 and remained at USD 2,017.09 per ounce after …
E.ON: Germany on the way to the 2030 hydrogen target
German energy company E.ON has given a more optimistic assessment of the green hydrogen market in an update to its report. Germany is aiming to reach a capacity of 10 gigawatts of green hydrogen by 2030. This energy is to be produced from renewable sources …
OPEC+ cuts oil production - prices rise
The production cuts by the OPEC+ countries are causing a drastic increase in the price of oil on the international market. Prices rise sharply as supply is tightened. Eight OPEC+ producer countries have announced that they will cut their oil production …
Shell halts biofuel projects in Singapore
Shell has decided not to proceed with two projects in Singapore aimed at producing biofuels and base oils. This was confirmed by a spokesman for the company on Thursday. In an email to Reuters, the company said, "We can confirm that we will stop exploring two …
Kurds halt oil exports: $6 billion owed to traders
The suspension of oil exports from Kurdistan has led to the interruption of repayments of six billion U.S. dollars in debt to energy traders such as Vitol and Petraco, trade sources told Reuters. Oil exports from semi-autonomous Iraqi Kurdistan to Turkey's …