Oil prices have soared over the past three weeks as geopolitical tensions increased, although economic data in the US could drive prices back down. Friday June 28, 2024 All eyes are on US inflation data as crude oil prices have maintained their hot streak and are expected to end this week with a third weekly … Read more
Oil prices have risen sharply over the past three weeks as geopolitical tensions have increased, but worrying economic data from the US could send prices back down. Friday June 28, 2024 All eyes are on US inflation data as crude oil prices have maintained their hot streak and are expected to end this week with … Read more
After soaring to an all-time high just days after its Nov. 21 IPO (at $78/share), EV maker Rivian’s fortunes have been a brutal one-way masterclass, with disappointment after disappointment, with its stock trading near record lows in recent months, and flirting with single digits, down 93% from its all-time high of $172 in Nov. 2021. … Read more
Tata Steel bosses have raised concerns about the impact the UK general election on July 4 could have on the £1.25 billion plans at the Port Talbot facility. The company said it is “concerned” following media reports on Monday, June 10, about the heavy asset closure and restructuring program. which was outlined earlier this year. … Read more
Falling private demand for electric vehicles (EVs) has dominated headlines throughout the year, fueling car owners’ concerns about the high cost of the switch. Automotive industry data provided by industry body Society of Motor Manufacturers and Traders (SMMT) showed sales to private buyers fell 7.7 percent in April. This week’s SMMT data showed a similar … Read more
After decades of failed attempts, scientists believe they are finally getting closer to achieving nuclear fusion on the scale needed to produce abundant clean energy. Several successful tests in recent years have made energy experts optimistic about the future of nuclear fusion, although some believe we are still a long way from achieving fusion on … Read more
The market reaction to OPEC’s latest production policy announcement was extremely negative, partly due to the many trades executed based on trend-following algorithms, analysts say. While most analysts view the OPEC+ alliance’s announcement this weekend as bearish for oil prices towards the end of the year due to the plan to start unwinding some of … Read more
On Sunday, the Organization of the Petroleum Exporting Countries and their partners in OPEC+ agreed to extend a series of production cuts first announced last year. The duration of that extension, widely expected to cover the second half of 2024, will instead cover the rest of this year and all of 2025. In a sense, … Read more
Oil prices are under pressure as bearish sentiment increases as OPEC+ disappoints the market with its promise to extend voluntary cuts until the third quarter of 2024 and baseline cuts until the end of 2025. – Combining an in-person meeting in Riyadh with a hybrid online option for smaller producers, OPEC+ agreed to extend existing … Read more