Commodities News

On Thursday, the Department of Energy (DOE) announced the release of 500,000 barrels of crude oil from an emergency stockpile in an attempt to prevent gasoline prices from rising because of the disruptions caused by Harvey. Senator Edward Market (D-MA) had asked the Energy Department to tap ...

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Gasoline has hit a new two year high as Harvey’s impact on refineries is assessed. The largest oil refinery in the US, Motiva Enterprises LLC’s Port Arthur refinery, began shutting down on Wednesday, gradually reducing capacity to 40 percent, as Harvey made its way inland over Southwestern ...

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On Monday, the special committee within the Chilean government rejected plans proposed by privately owned company Andes Iron go ahead on a $2.5 billion copper and iron mining project; ordering all related construction to be stopped immediately. The project had been rejected in March by an ...

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Toyota Motor Corp and Mazda Motor Corp have announced plans to build a $1.6 billion assembly plant within the United States. Toyota’s president Akio Toyoda argued to the Mazda board that industry consolidation is needed because of the threat automakers face from tech firms such as Apple and ...

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Recently  Mercedes-Benz parent company Daimler announced a voluntary recall across Europe in an effort to cut harmful emissions. Daimler, which also owns the Smart brand, has said its board of management has approved a number of measures to cut emissions; including about $253 million of ...

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The UK government recently announced that come January 2018, the surcharges that have been added to credit card transactions will be banned. The new rules were announced by the UK’s Treasury Ministry on Wednesday and look to strengthen consumer protection. British consumers sometimes are ...

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For a number of years now Qatar and Australia have been the leading exporters of natural gas throughout the world. Global gas demand has been predicted to grow by 1.6 percent a year for the next five years; meaning demand is on track to hit almost 460 billion cubic meters (bcm) by 2022. ...

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Elon Musks’ Tesla, in collaboration with French renewable energy firm Neoen, has announced their intent to build the world’s largest lithium ion battery to store renewable energy in South Australia. Musk has said he anticipates it will help stabilize the power grid and help bring down prices ...

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Blue Apron took a hit to its valuation on Wednesday, when the company announced a reduced price range for its initial public offering (IPO). Last week, the company began the process to go public on the New York Stock Exchange under the symbol “APRN.” The meal kit delivery company ...

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Coal India recently announced that by March 2018 they will be closing 37 mines because the mines are no longer economically viable. The closing mines represent about 9 percent of the state run company’s sites, and are expected to save around $124 million in costs. Last month, India also ...

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