Brent falls, but remains close to $100/bbl
LONDON, Aug 26 (Reuters): Oil prices fell on Friday as talk of a hefty European Central Bank rate hike stoked demand worries and ahead of a speech from the U.S. Federal Reserve chairman.Brent crude futures fell by 31 cents, or 0.31%, to $99.03 a barrel by 1344 GMT. U.S. West...
Read more
Russian plant burning off $10m of gas a day as supply to Germany is limited
As Europe's energy costs skyrocket, Russia is burning off large amounts of natural gas, according to analysis by Rystad Energy, reports BBC.They say the plant, near the border with Finland, is burning an estimated $10m (£8.4m) worth of gas every day. Experts say the gas would previously have been exported...
Read more
Gold price falls on higher yields
Gold prices slid on Friday as U.S. Treasury yields moved slightly higher, while investors positioned for Federal Reserve Chair Jerome Powell's speech at Jackson Hole, reports Reuters.Spot gold fell 0.6% to $1,748.69 per ounce by 09:08 a.m. ET (1308 GMT). U.S. gold futures dropped 0.8% to $1,758.10."The hawkish expectation on...
Read more
Copper hits near 2-month high on sliding stocks, energy crisis
LONDON, Aug 26 (Reuters): Copper prices touched their highest in nearly two months on Friday and aluminium also climbed on worries over an energy crisis hitting output while supply is tight and inventories low.Three-month copper on the London Metal Exchange CMCU3 was up 2.1 per cent at $8,297 a tonne...
Read more
