Commodities

Equinor has extended the outage at its Hammerfest LNG plant in Norway by 10 days, Reuters reports. The plant, also known as Melkoeya LNG, is Europe's largest liquefied natural gas (LNG) export facility, and the outage is expected to last until January 19. The company initially announced on

Cocoa prices tumbled to their lowest point in over a week, with the most-active contract shedding nearly 5% in London. Bloomberg reports that traders are adjusting their positions in response to new measures implemented by Intercontinental Exchange Inc. (ICE) to curb market volatility. ICE Futures Europe on Tuesday lowered the

Oil prices edged lower on Monday in light holiday trading, as traders awaited key economic data releases from China and the US this week, according to Reuters. The upcoming data is expected to shed light on the health of the world's two largest oil consumers and the outlook

European natural gas prices surged on Friday, driven by Russian President Vladimir Putin's latest pronouncements casting doubt on a post-2024 gas transit deal through Ukraine, as reported by Bloomberg. Benchmark futures jumped as much as 5%, marking the most significant weekly increase, following Putin's Thursday statement

Major European energy companies, including BP and Shell, are doubling down on oil and gas production in 2024, prioritizing near-term profits over their previous commitments to renewable energy, as reported by Reuters. This shift, driven by government policies that have slowed the rollout of clean energy initiatives and the soaring

The surge in coffee prices is forcing traders to adopt innovative strategies to manage risk and mitigate financial strain, reports Bloomberg. Arabica coffee futures, the benchmark for high-quality beans, have surged approximately 70% in New York this year, reaching their highest levels in over four decades. This rapid price appreciation

US gas producers are poised to ramp up production in 2025 as supply-demand fundamentals tighten, but the timing and extent of this increase will hinge on winter severity and the ramp-up of new liquefied natural gas (LNG) export projects, according to market players, as reported by S&P Global.

Governments aiming to support struggling European industries should prioritize tackling high energy taxes, which are eroding competitiveness, says the head of Europe's electricity lobby, Eurelectric, to Reuters. The European Union is currently drafting a package of measures to assist industries facing challenges, including manufacturing giants warning of plant

China's insatiable thirst for oil, which has fueled the global energy market for years, is showing signs of moderation, a trend driven by the rapid rise of electric vehicles, reports the Wall Street Journal. While China remains the world's largest oil consumer, its demand for oil

The Spanish government, led by Prime Minister Pedro Sanchez, has issued a decree extending a temporary tax on energy companies into 2025, as reported by Reuters. This move comes despite last week's parliamentary vote to eliminate the levy. The decree, which takes effect on January 1, needs to