Ukrainian dam destruction sends global prices of wheat, corn soaring
The destruction of Nova Kakhovka dam in southern Ukraine has sent global prices of corn and wheat soaring, stoking fears about more disruptions in the global supply chain.
Elliott pushes for NRG Energy overhaul after disclosing position
Activist investor Elliott Investment Management LP, wants the energy company to appoint five new independent board members it has identified and selected.
Gold boom continues in 2023 nearing fresh record
The World Gold Council reports that the precious metal’s demand is on the rise and predicts it may reach record levels in 2023 fueled by economic uncertainties and the ballooning bank crisis.
Global commodity prices likely to slip in 2023, World Bank says
The World Bank expects much of the fall that has already occurred to now be steady for the remainder of the year, with prices possibly lifting in 2024.
Chevron, Exxon developing cleaner gas as alternative to EVs
ExxonMobil and Chevron are working together on developing new gasoline formulas that will bring down emissions to compete with electric vehicles.
Exxon Mobil, Pioneer rumors spark fracking M&A talk
Exxon Mobil is reportedly in preliminary discussions to acquire Pioneer Natural Resources as part of the oil and natural gas producer’s Permian Basin strategy.
Gold nears record on weaker economic data
The price of gold is nearing a record as the latest JOLTS report showed job openings are down as manufacturing activity slows, weakening the U.S. dollar against the euro and pound.
Gold rush still on for 2023, precious metals outperforming market last 6 months
Amid inflationary pressures and a weakened U.S. dollar, experts predict Wall Street will gravitate towards material wealth in precious metals like gold and silver, sending both to record highs in 2023.
JPMorgan Chase’s nickel bags turn out to be full of stones: report
An apparent mix-up at a warehouse in Rotterdam led to JPMorgan Chase buying what it thought was $1.3 million worth of nickel but turned out to be bags of stones.
New US solar installations a miss in 2022, but production expected to fuel surge
Solar installation fell in 2022, largely due to the limited availability of panels caused by a ban on some Chinese goods.
Global miners gear up for energy transition with deals and investments
Miners are cutting back on dividends and plowing back earnings into expanding capacity as EVs and the shift to renewables spark demand for rare earth elements.
Glencore hands $7.1B to shareholders after record profit
Glencore had one of its greatest years on record, cutting debt to $75 million from $6 billion, and returning $7.1 billion to shareholders, as demand soars.
Are ETFs a hedge for inflation?
Exchange-traded funds can be used as a hedge for retail and institutional investors during economic downturn and inflation.
Copper shortage gets real
A copper deficit might extend beyond 2023 as mining issues in the South American countries of Peru and South America threaten global supply.
Newmont makes $16.9B bid for Australia gold producer
The Newmont Corporation has made an indicative $16.9 billion takeover offer for Australia's top goldminer Newcrest Mining to combine the goldmining companies’ assets in China and Australia.
Gold demand at its highest since 2011
The World Gold Council revealed that demand for gold hit highs last year not seen since 2011, fueled by central bank tightening cycles, including the Federal Reserve's.
Exxon’s record profits irk White House in energy blame game
Exxon Mobile’s whopping earnings in 2022 irk White House, which called the report "particularly galling" as Americans spent more for gas prices.
Putin on phone with Saudis ahead of OPEC+ committee meeting on Wednesday
Oil prices are lower after Russian President Vladamir Putin reportedly met with Saudi Crown Prince Mohammed bin Salman ahead of OPEC + meeting to discuss global oil market.
US plant outages send oil refining margins to 3-month high
Refining margins are on the rise as more plants undergo outages due to accidents or delayed maintenance due to the pandemic.
Gold and silver boom predicted as US hits debt ceiling, dollar devalues
Precious metals expert predicts gold and silver will rise in 2023 as government spending results in increased inflation and U.S. hits debt ceiling.