Squarepoint Capital LLP, a hedge fund, has acquired over $100 million of predominantly Russian aluminum from the London Metal Exchange (LME). The acquisition took place with the metal stored in South Korean warehouses. The hedge fund has requested delivery of 50,000 tons of this metal, a majority of which was…

Investing.com – From near the jaws of $1,700 an ounce, gold bulls are back to $1,900 safety, after the Middle East’s latest crisis led to a huge leap Friday that topped a week of incredible price swings in the yellow metal. Gold’s most-active contract on New York’s Comex, December, settled…

Investing.com – “Never a dull moment in the oilfield,” oil services firm Panther says on its website. By that extension, of course, are the oil markets, which seldom go a day, or even hours, without drama. Friday was one such day. Crude prices jumped as much as 7% on the…

By Stephanie Kelly NEW YORK (Reuters) -Oil prices leapt nearly 6% on Friday, with posting its highest weekly gain since February, as investors priced in the possibility that the conflict in the Middle East could widen as Israel began ground raids inside the Gaza Strip. Israel’s announcement marked a shift…

By Anne Kauranen and Terje Solsvik HELSINKI (Reuters) -A subsea gas pipeline and a telecommunications cable connecting Finland and Estonia under the Baltic Sea have been damaged in what may have been a deliberate act, the Finnish government said on Tuesday. NATO Secretary General Jens Stoltenberg said NATO was sharing…

By Chen Aizhu and Muyu Xu SINGAPORE (Reuters) – China has reaped savings this year of nearly $10 billion through record purchases of oil from countries under Western sanctions, according to Reuters’ calculations based on data from traders and shiptrackers. An unintended consequence of sanctions imposed by the United States…

By Andrea Shalal MARRAKECH, Morocco (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday said a G7-led price cap on Russian oil had sharply reduced Russian revenues over the past 10 months, and that it was critical to keep imposing severe and increasing costs on Russia over its war in…

By Yousef Saba FUJAIRAH (Reuters) – The deputy CEO of commodity trader Mercuria, Magid Shenouda, said on Wednesday that oil could go to $100 a barrel if the situation in the Middle East escalates. “I don’t think there are that many analysts that believed that it was going to go…

MOSCOW (Reuters) – The Kremlin on Wednesday described news of damage to the Balticconnector gas pipeline between Estonia and Finland as disturbing and said that the attack on the Nord Stream pipeline last year was a dangerous precedent. Finland said on Tuesday that a subsea gas pipeline and a telecommunications…

By Vladimir Soldatkin and Olesya Astakhova MOSCOW (Reuters) -Russian President Vladimir Putin said on Wednesday that OPEC+ coordination would continue in order to ensure predictability on the oil market and signalled strongly that a deal to constrain supply to world markets was here to stay. OPEC+, which groups the Organization…