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 weakens on weaker global growth outlook, Gold and Bitcoin unfazed

Commodities get little support from a weaker dollar Demand destruction likely to force Saudis to extend cuts Bitcoin holds onto the $30,000 level Oil Crude prices are weakening as concerns mount that the global growth outlook is getting uglier by the day. China is rushing to deliver more support to their real estate crisis, while the US starts to grow more nervous about a potential recession. Oil will struggle this week if inflation readings in the US support the hawkish case for a couple mor

Jul 10, 2023 by Edward Moya

Oil breaks higher, gold choppy after nonfarm payrolls

Oil finally breaks higher and with decent momentum Another strong showing on Friday saw oil prices finally make a significant move higher, with Brent breaking above $77 and ending the series of lower highs in price. There still remain obstacles above but this could be a very significant breakout in the price after such a long period of consolidation. What's more there doesn't appear to be any shortage of momentum behind the move; in fact, it has seemingly increased which could be another bullish

Jul 10, 2023 by Craig Erlam