Oil

Global technology, geopolitical tensions, and economic market shifts dominated the news cycle as developments unfolded across AI, international security, and financial markets. OpenAI is forecasting a sharp expansion in paid ChatGPT users, Taiwan is preparing a significant defence spending increase amid rising pressure from Beijing, negotiations toward a potential Russia–Ukraine peace agreement progressed, and Asian

Volatility in energy markets, especially oil prices, is far from over amid the uncertainty surrounding the peace deal between Russia and Ukraine.  Last Friday, the West Texas Intermediate oil prices fell to their lowest level of $56 per barrel in a month after having traded close to $61 earlier in the week.  Last week’s selloff

India’s top court has introduced a rare turning point in the country’s approach to large financial crime cases by allowing billionaire brothers Nitin and Chetan Sandesara to avoid criminal prosecution if they repay part of what they owe. The decision is tied to a long-standing $1.6 billion bank fraud case involving loan defaults across Indian

Saudi Aramco is exploring a sweeping round of asset sales that could reshape how the company manages its vast energy and infrastructure network. The early discussions show the oil giant assessing ways to raise billions of dollars by selling a mix of holdings. The plans, reported by Bloomberg, come at a time when global energy

Gold prices fell on Monday due to a stronger dollar against a basket of major currencies. Silver prices also declined slightly as the dollar strengthened and weighed on sentiment. Meanwhile, oil prices also fell earlier in the day before stabilising somewhat. Oil prices had experienced steep losses last week due to growing optimism over a

BP’s Olympic Pipeline system remained shuttered on Monday following a fuel leak near Everett, Washington, prompting an investigation by the company and authorities and forcing airlines to activate contingency plans as the busy Thanksgiving travel week ramps up. The product discharge, initially reported on November 11, led BP to shut down two pipelines east of

India is entering a new phase in its Russian oil trade as banks develop stricter checks to navigate Washington’s latest sanctions. Lenders, which only weeks ago were reluctant to clear any payment linked to Russian crude, are now prepared to consider transactions if cargoes come from non-blacklisted sellers and follow every sanctions rule, reported Bloomberg.

Russia is looking to expand its energy partnership with China, with Deputy Prime Minister Alexander Novak announcing in Beijing on Tuesday that Moscow sees opportunities to increase oil exports and enhance cooperation on liquefied natural gas (LNG) supplies. Since Russia initiated its military action in Ukraine in February 2022, China and India have emerged as

After having spent most of the day in the red, gold prices rebounded due to renewed expectations of a December interest rate cut by the Federal Reserve.  On the other hand, silver prices dipped nearly 2%, but hopes for a rate cut limited losses.  Oil prices fell, and were set for a weekly decline as

Global sugar prices are expected to remain soft in the coming months due to rising production and rebuilding stocks, said Edward Nikulin, a commodities and weather-model analyst at Mind Money.  “Key upside risks stem from weather shocks (El Niño/La Niña transitions) and energy-price volatility affecting Brazil’s ethanol mix,” he said in an analysis.  India’s export