December 2024
Citi’s five big commodity calls for 2025
Following a tough year for traders, the US broker has revealed where it expects to see the biggest gains and losses in the market for next year.
OPEC+ delays oil output hike until April, extends cuts into 2026
The cartel’s earlier plan to start unwinding cuts from October this year has been thwarted by a slowdown in global demand and rising output outside the group.
November 2024
Trump win unlikely to spur US oil, gas production
Despite the president-elect’s promises, production is unlikely to surge as Wall Street demands returns over growth.
October 2024
Rapid rise of LNG trucking pushes China to peak diesel
While the country’s rapid adoption of electric cars has been in the spotlight, significant change has also been taking place in China’s freight industry.
September 2024
Oil falls on report OPEC+ will boost supply in December
Saudi Arabia is committed to dropping its unofficial $US100 a barrel price target to win back market share, the Financial Times also reported.
Relief for motorists as oil price slides to its lowest point this year
But the decline has wreaked havoc on the ASX energy sector – already one of the worst-performing of the year to date – with Santos and Woodside both down.
August 2024
An enormous error has overstated the US boom
Markets have been caught off guard by a drastic revision of non-farm payrolls, the worst miss since the Lehman crisis.
June 2024
World faces ‘staggering’ oil glut by end of decade, energy watchdog warns
The International Energy Agency says electrical vehicle and renewable energy take-up and slowing growth in China means demand will peak in a few years.
Commodities hit as oil slumps; iron ore in correction
Market pundits are at odds about the prospects for oil prices after OPEC’s surprise move to restore some production to the market this year. Iron ore, meanwhile, is struggling to bounce off its lows.
OPEC+ extends deep production cuts into next year
The oil cartel agreed the cuts as it battles to shore up prices amid weak global demand and increased supply from other parts of the world.
May 2024
US shale companies accused of collusion over oil price
ExxonMobil, Occidental Petroleum and Diamondback Energy are among the companies named in at least 10 class actions alleging they conspired to constrain production.
March 2024
Indonesia vows to speed up nickel output despite global glut
A deputy minister says the government wants to expand nickel production to achieve “price equilibrium” to support sustainable demand for EV batteries.
March 2024
Societe Generale lifts S&P 500 target, says ‘run with the bulls’
US exceptionalism “has become the market norm”, strategists at the firm say, and they see no reason to shift away from US equities
February 2024
Fuel price shock warning for Australia
Petrol and diesel importers should consider long-term supply deals to reduce the risk of price shocks as OPEC could start to influence markets, Rystad Energy said.
Iranian sanctions-evasion operation in the heart of London
Two banks, Lloyds and Santander UK, provided accounts to an Iranian sanctioned petrochemicals company near Buckingham Palace
January 2024
With inflation falling faster, investors need to grab yield
Lower petrol prices, lower electricity and gas prices, a rising Australian dollar and zero inflation in China all point to a rapid decline in inflation in Australia.
Oil rises amid Middle East turmoil, renewed supply concerns
The commodity returned to the $US78 a barrel mark as bombings in Iran ramped up worries that Israel’s war against Hamas would trigger a wider conflict.
Motorists and RBA cheer 14pc fall in oil prices
A 14 per cent fall in oil prices since November is tipped to push inflation to its lowest level since late 2021 and deliver relief to motorists at the bowser.
December 2023
Australia’s most expensive cities for petrol revealed
Motorists are copping the cost of volatile world oil prices, but relief could be in sight as upward pressure on prices begins to ease.
OPEC member quits amid production disagreement
Angola says it will leave OPEC, in a blow to the Saudi-led oil producer group that has sought output cuts to prop up oil prices.