According to Reuters, Venezuelan President Nicolas Maduro has both the incentive and the flexibility to provide crude oil cargoes, the majority of which now go to China, as a bargaining chip if negotiations with the United States progress. President Donald Trump’s administration, which has strengthened its military presence in the Caribbean, has indicated that it
India’s top court has introduced a rare turning point in the country’s approach to large financial crime cases by allowing billionaire brothers Nitin and Chetan Sandesara to avoid criminal prosecution if they repay part of what they owe. The decision is tied to a long-standing $1.6 billion bank fraud case involving loan defaults across Indian
Saudi Aramco is exploring a sweeping round of asset sales that could reshape how the company manages its vast energy and infrastructure network. The early discussions show the oil giant assessing ways to raise billions of dollars by selling a mix of holdings. The plans, reported by Bloomberg, come at a time when global energy
Gold prices fell on Monday due to a stronger dollar against a basket of major currencies. Silver prices also declined slightly as the dollar strengthened and weighed on sentiment. Meanwhile, oil prices also fell earlier in the day before stabilising somewhat. Oil prices had experienced steep losses last week due to growing optimism over a
BP’s Olympic Pipeline system remained shuttered on Monday following a fuel leak near Everett, Washington, prompting an investigation by the company and authorities and forcing airlines to activate contingency plans as the busy Thanksgiving travel week ramps up. The product discharge, initially reported on November 11, led BP to shut down two pipelines east of
India is entering a new phase in its Russian oil trade as banks develop stricter checks to navigate Washington’s latest sanctions. Lenders, which only weeks ago were reluctant to clear any payment linked to Russian crude, are now prepared to consider transactions if cargoes come from non-blacklisted sellers and follow every sanctions rule, reported Bloomberg.
Russia is looking to expand its energy partnership with China, with Deputy Prime Minister Alexander Novak announcing in Beijing on Tuesday that Moscow sees opportunities to increase oil exports and enhance cooperation on liquefied natural gas (LNG) supplies. Since Russia initiated its military action in Ukraine in February 2022, China and India have emerged as
After having spent most of the day in the red, gold prices rebounded due to renewed expectations of a December interest rate cut by the Federal Reserve. On the other hand, silver prices dipped nearly 2%, but hopes for a rate cut limited losses. Oil prices fell, and were set for a weekly decline as
Global sugar prices are expected to remain soft in the coming months due to rising production and rebuilding stocks, said Edward Nikulin, a commodities and weather-model analyst at Mind Money. “Key upside risks stem from weather shocks (El Niño/La Niña transitions) and energy-price volatility affecting Brazil’s ethanol mix,” he said in an analysis. India’s export
Gold prices were largely unchanged on Thursday, even as the dollar strengthened against a basket of major currencies. Prices had fallen 1% earlier on Thursday, but the yellow metal recovered somewhat as the day progressed. Meanwhile, silver prices were largely unchanged from the previous close after falling sharply earlier in the day. On the other