The overall outlook for US corn, soybeans and wheat in 2024 is for larger supplies only partially met by increased domestic use and firming global demand. That preliminary forecast from the Interagency Commodity Estimates Committee was presented during the US Department of Agriculture’s (USDA) 100th annual Agricultural Outlook Forum by Jake Vuillemin, an agricultural economist…
Traders are still investing in oil by-products despite the price cap in oil markets. Bloomberg data released on Tuesday 6th of February, showed that the open interest in primary oil futures contracts has peaked since March 2022. Oil derivatives of almost 660 million barrels have been added this year, yet…
Shell has projected that liquefied natural gas (LNG) will replace coal as a leading driver of Chinese and other Asian economies. According to the firm’s LNG Outlook published today, demand will rise by 50 percent by 2040 and global LNG trade will grow to around 625-685m tonnes per year, up from the 404m tonnes traded…
Commodity prices have made headway, with gold beginning to show signs of forming a higher low and oil prices pushing higher again. Gold prices have pushed higher for a second day, after testing the 50-day simple moving average (SMA) yesterday. A higher low could be forming, which would help reinforce the uptrend and put the…
Switzerland’s nuclear power plant operators plan to keep the facilities operational for longer than initially planned, spokespeople for the large Swiss utilities Axpo Holding and Alpiq Holding told Bloomberg on Tuesday. Switzerland has four nuclear reactors, which generate up to 40% of its electricity, according to the World Nuclear Association. The Swiss voted in a…
Around 40% of the world’s coal is traded in Switzerland, as per a review. Swiss banks are among the top moneylenders to the coal business. This year, coal production should exceed eight billion tonnes worldwide, an all-time high, according to forecasts by the International Energy Agency (IEA). Coal is produced mainly in China, India, Indonesia…
Some coal producers are having to set aside tens of millions of dollars to cover their own risks as they are cut adrift by insurers, making it more difficult and costly to do business amid a surge in demand for the fossil fuel. Dozens of insurers have announced restrictions on their cover for the coal…
Switzerland and Italy signed an agreement on energy supply to protect themselves from possible future gas supply bottlenecks. This would help with securing gas “in the event of a supply shortage from Germany”, Swiss environment and energy minister Albert Rösti said in Rome. Rösti was in the Italian capital on Thursday to sign two agreements…
Kazakhstan exported 2.85 million tons of coal and coke to the European Union (EU) countries since the beginning of this year, as its coal is suitable for their power plants, according to the July 25 S&P Global Commodity Insights report. For comparison, Kazakhstan exported an average of 0.81 million tons of coal to EU nations…
Switzerland will begin releasing oil reserves today as part of its plan to release a total of 245,000 cubic meters by September. The decision came after a prolonged drought led to record-low water levels on the Rhine River, reducing loading quantities for oil-carrying ships and causing supply constraints. In the Upper Rhine, barges have only…