1. Russia offered to pump more gas to Europe

Oct 8 , 2021

Winter hasn't even arrived yet, and Europe is already witnessing a gas market crisis due to high demand and insufficient supply, putting downward pressure on prices. When Russian President Vladimir Putin intervened on Wednesday, proposing to enhance Russia's gas supplies to Europe, regional gas prices (which had risen by an astounding 500 percent this year) plummeted and markets sighed with relief.

Source: CNBC

2 . Copper price rises on supply disruption worries

Oct 7 , 2021

An indigenous village in Peru's Espinar region barricaded a vital mining road on Wednesday, vowing to keep blocking it forever in protest of the government and Glencore PLC's Antapaccay copper mine, according to a local leader. The crisis erupts just one day after the government ended a dispute over MMG's Las Bambas mine. The mining corridor, as it is known in Peru, has become a lightning rod in the country.

Source: mining

3 .Oil Up Over Gas-to-Oil Switch

Oct 8 , 2021

This week, oil prices rose as several businesses began to convert from higher-priced gas to oil. For the time being, there are also doubts over whether the US will release oil from its strategic stockpiles. Overall, the black liquid has had a good week, thanks to a shift to oil for power generation and by some businesses as gas costs rise.

Source: Investing

4 .OPEC+ sticks to plan for gradual oil output hike

Oct 4 , 2021

Following a more than 50% increase in oil prices this year, the Organization of Petroleum Exporting Countries, Russia, and their allies, known as OPEC+, have received requests for additional supplies from major users such as the United States and India. However, OPEC resolved to stick to its aim of adding only 400,000 barrels per day of supply in November 2021.

Source: Reuters

5 .Federal Reserve to hike sooner than expected: Bob Michele, chief investment officer at J.P. Morgan

Oct 7 , 2021

Bob Michele, a four-decade market veteran, is on the lookout for the kind of inflation boogeyman that would push the Federal Reserve to boost rates sooner than planned, just like everyone else on Wall Street.

Source: Livemint

6 .European Gold ETF lead outflows in September – WGC

Oct 7 , 2021

Last month, global gold-backed ETFs witnessed withdrawals of 15.2 tonnes, according to the WGC. Total stockpiles have dropped to 3,592 tonnes, the lowest since April. According to the research, European funds led the withdrawals, liquidating 11.5 tonnes of gold. Outflows of 6.6 tonnes were recorded in North American markets. Investors are fleeing the gold market due to changing monetary policy, according to the researchers.

Source: Kitconews

7 .ECB considers new bond buying programme

Oct 7 , 2021

Last month, the European Central Bank (ECB) acknowledged that policymakers pondered a greater decrease in asset purchases, as well as announcing that it is looking into a new bond-buying programme. Some authorities, according to the bank, believe that markets have already prepared for the termination of emergency relief, which will have little impact on financial conditions. The plan will replace the current programme and operate on an open-ended quantitative-easing system that currently purchases €20 billion (£17 billion, $23 billion) in debt each month.

Source: Bloomberg

8 .EIA projects nearly 50% increase in world energy use by 2050, led by growth in renewables

Oct 8 , 2021

According to the EIA's International Energy Outlook 2021, worldwide energy consumption will rise by about 50% in the next 30 years. Although petroleum and other liquid fuels will continue to be the world's greatest source of energy in 2050, renewable energy sources such as solar and wind will develop at a similar rate.

Source: hellenicshippingnews