Commodities

The Brazilian Institute of Geography and Statistics (IBGE) has reduced its estimate for the country’s grain harvest in 2021 to 251.7 million tons, down 1% compared to 2020. According to a new Systematic Survey of Agricultural Production (LSPA) released on Thursday (Sept. 9), the volume is 1.7% lower compared to the previous projection. LSPA provides estimates on planted areas, harvested areas, amount

Russian energy giant Gazprom said in a statement on Friday (Sept. 10) that the construction of the Nord Stream 2 pipeline has been fully completed. “Chairman of the Management Committee Alexei Miller said that this morning at 8.45 Moscow time (05:45 GMT) construction of the Nord Stream 2 gas pipeline was fully completed,” Gazprom said in a statement. Earlier this month, Miller announced the first gas deliveries via

Guinea coup may hit global bauxite supply market analysts said, as the West African country is the world’s second-biggest producer of the raw material that is converted to alumina and then aluminum and is the top supplier to China. The coup began on Sunday (Sept. 5) when special forces detained  long-serving President Alpha Condé, and then announced on state television that the

Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) are set to meet up on Wednesday (Sep.1) to discuss the previously agreed increase of 400,000 barrels per day (bpd). A source told Reuters Wednesday’s meeting will likely proceed with the plan without changes to the cartel’s policy and despite pressure from the White House to produce more oil. Earlier this month,

Egypt became the Arab World’s biggest liquified natural gas (LNG) exporter in the second quarter (Q2) of 2021, according to a report issued by the Organization of Arab Petroleum Exporting Countries (OAPEC). The transcontinental country spanning the northeast corner of Africa and southwest corner of Asia, exported LNG estimated at $1.4 million tons during Q2 compared to non-exports during the same period in 2020 due to

Building materials prices are seen remaining elevated until at least the middle of next year, according to economists at ING. “It will take at least until the summer of 2022 before we expect the price of some building materials, notably concrete, bricks and cement, to drop,” the banking group said, adding that “constructions firms’ suppliers first need to improve their historically low

With the energy sector being the best performing one within the S&P 500 and many European markets, oil prices rebounding and an upswing in second-quarter earnings, the world’s largest oil and gas companies are seeking to win back investors by returning more cash to shareholders, CNBC reported. In the U.S., ExxonMobil  posted its biggest quarterly profit in more than a year on July