Other Commodities
Europe approaches oil embargo
The European Union has proposed a phased embargo on Russian oil imports, the removal of more Russian banks from the Swift payments system and new sanctions against those spreading disinformation about Russia's war in Ukraine, EU officials said on Tuesday. EU …
EU energy companies want to meet Putin's terms
Some of Europe's biggest energy companies are taking precautions to comply with the Kremlin's demand for a new payment system for Russian gas, which critics say will undermine EU sanctions, threaten the unity of the bloc and inject billions of dollars in vital …
Gazprom stops supplies to Poland and Bulgaria
European gas prices rose by a fifth on Wednesday after Russian gas company Gazprom halted supplies to Poland and Bulgaria on the grounds that the countries had failed to make ruble payments due a day earlier.
Baerbock promises German oil embargo
Germany wants to stop importing Russian energy resources as soon as possible and already has a clear plan to stop coal and oil imports from Russia. This is what Foreign Minister Annalena Baerbock said on April 20 in Riga after talks with her counterparts from …
Another major release of US oil reserves is imminent
President Joe Biden is close to releasing another large batch of oil from emergency stocks in the US in a bid to slash crude prices, which are fueling high inflation across the economy, according to three people familiar with the plan.
Saudi Aramco increases spending on oil exploration
Saudi Aramco has announced it will increase spending on oil production to meet rising energy demand, while chief executive Amin Nasser has slammed "completely unrealistic" plans for the world to quickly move away from fossil fuels.
Opec allies to increase oil production
The UAE will encourage other OPEC members to increase oil production as Russia's invasion of Ukraine has pushed crude prices to their highest levels in more than a decade, according to a senior official.
Wheat and nickel prices hit record highs
Wheat and nickel futures rose to record highs after Russia intensified shelling of Ukrainian cities two weeks after President Vladimir Putin's troops invaded Ukraine.
US in "active talks" on Russian oil import ban
US Secretary of State Antony Blinken said Washington was in "very active talks" with its European partners about a ban on oil imports from Russia while Ukraine prepared for a widening offensive against its urban centers.
Rumors of Iranian Oil Return
Iran's oil production capacity may peak less than two months after reaching a nuclear deal, Oil Minister Javad Owji said on Thursday.