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1147 days ago

Price of oil back to pre-pandemic levels

WTI Crude climbed back to the $57-58 range, catching back up with pre-pandemic levels. 

#Commodities
Price of oil back to pre-pandemic levels

1148 days ago

China informally bans top coal supplier, Australia.

Prices in China surged over the seven months through January to records of more than $130 a metric ton for high-grade thermal coal—nearly twice the midyear level—due to slower output last year and a faster-than-expected economic recovery. China was short of thermal coal and officials urged the companies to import more—from anywhere except Australia, China’s biggest supplier. To comply, buyers in China have had to pay steep premiums for imports from farther afield, on top of prices that have risen 84% since midyear. Source: WSJ

#Commodities

1148 days ago

Chart of the day: Tesla is worth as much as the entire S&P 500 oil sector

Tesla's market capitalization recently surpassed the S&P 500 oil sector: both sit around the $772 billion level. Of course, one must mention that the Tesla stock price has surge this year, whereas oil is falling down. 

#Commodities
Tesla is worth as much as the entire S&P 500 oil sector

1148 days ago

American Lithium bursts with planned acquisition of Plateau Energy Metals and lithium price surge

American Lithium will acquire all of Plateau Energy Metals’ shares at a 72% premium to the latter’s 20-day volume-weighted average trading price on Feb. 5, according to a statement. Plateau closed at 53 Canadian cents (42 cents) on Friday and shares surged 17% on Monday before being halted pending an announcement. - Bloomberg

#Commodities

1149 days ago

China expects crude oil demand to peak in 2025

While China’s oil titans have publicly embraced Xi’s net-zero campaign, they also argue that crude has an important role to play in China’s geopolitical strategy. All three companies prioritized boosting oil and gas production in their 2021 work plans, citing the need to reinforce energy security. From now until 2025, operations will start on 10 mega-refining projects able to process more than 200 million tons of crude a year. The country’s total refining capacity is set to grow to 1 billion tons a year by 2025, according to CNPC. - Bloomberg

#Commodities
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