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.

USD/CAD: Canadian dollar gets a boost from surging oil prices

Canadian dollar rally runs out of steam ahead of US inflation report Brent crude rallies over $91, highest levels since November BOC rate hike expectations hover around 34.3% for October 25th meeting/ 17.5% for the December 6th meeting. The USD/CAD (a daily chart of which is shown) as of Tuesday (9/12/2023) has shown bullish correctiveness is accelerating on the break of key trendline support that has been since July 31st. If a bearish bias remains in place, downward momentum could target t

12-09-2023 12:51 GMT by Edward Moya

Brent crude - Oil rally accelerates higher after OPEC monthly report

Downside risks to the global economy remain Output restrictions from Saudi Arabia and Russia push oil market further into deficit Oil accelerates higher after brief consolidation Oil prices are creeping higher again on Tuesday, with Brent trading around $92 despite there being a mixed view on the economic outlook. As we heard from the European Commission yesterday, growth in the euro area is going to be relatively minor, with Germany struggling to avoid another recession.

12-09-2023 12:37 GMT by Craig Erlam