Nickel trades on the London Metal Exchange (LME) are unlikely to resume before Friday, the exchange said. The sanctions imposed by a number of countries against Russia have contributed to a spike in commodity prices due to concerns about disruptions of supplies to the market.  A day earlier, the cost of nickel at the LME due to concerns about supply has jumped more than twice and for the...

The unfolding events in Ukraine are further exacerbating the global energy crisis, Saudi Arabian oil company Saudi Aramco CEO Amin Nasser said. "Unfortunately, the tragic events unfolding in Ukraine are exacerbating the global energy crisis further," Nasser said at a panel discussion at the ongoing CERAWeek international energy conference in Houston. Global oil and gas prices in recent weeks...

US stock markets closed at the end of the week in the red zone. The conflict in Ukraine, imposition of sanctions and counter-sanctions, as well as suspension of operations of a significant number of companies in Russia forced investors to reconsider their forecasts. Geopolitical risks are a serious driver for commodity prices. Energy, metal and agricultural commodity prices are hitting all-time...

American entrepreneur Elon Musk has called for an immediate increase in oil and gas production, admitting that current volumes of green energy cannot replace Russian hydrocarbon exports. "It's hard to say this, but we need to increase oil and gas production immediately. Emergency times call for emergency measures," he wrote on Twitter. Prices of oil, gas and refined products, including petrol,...

According to the International Energy Agency, the military operation in Ukraine has not yet resulted in a global oil and gas market catastrophe, but it could have a significant impact on energy security. Russia is the world's top oil exporter, according to the report. In November 2021, OECD European countries (mainly of the EU, the UK, Switzerland, Norway, and Turkey) received 60 percent of...

International Energy Agency (IEA) countries will hold an extraordinary energy ministerial meeting on Tuesday, March 1, to discuss the impact of events in Ukraine on the oil market, IEA head Fatih Birol said. "We will hold an extraordinary IEA ministerial meeting tomorrow on the impact of Russian troops entering Ukraine on oil supplies and what role IEA members can play in stabilizing energy...

The yield on ten-year US Treasury bonds declined by 0.07 percentage point. During the Russian special operation in Donbass, the yield on 10-year US Treasury notes, which are regarded the benchmark and most popular government debt instruments in this nation, declined by 0.07 percentage points to 1.90 percent each year, according to CNBC. In addition, the 30-year bond yield fell by 0.06...

India's overall crude oil purchase cost for the current fiscal year (ending March 31) is expected to be more than $100 billion, nearly double the previous fiscal year's figure. The Press Trust of India news agency reported this on Sunday, citing statistics from the Petroleum Planning & Analysis Cell (PPAC), an Indian Ministry of Petroleum and Natural Gas think tank. This increase in import...

The Russia-Ukraine crisis pushed gold prices to their highest level in almost a year on Wednesday. Gold prices surged as tensions between Moscow and the West grew, owing to the possibility of Russian forces entering the Donbass and rising worries of a full-scale invasion of the Ukrainian territory. Gold futures for April raised by $3, or 0.2 percent, to $1,910.40 per ounce, the highest closing...