Natural gas surges above $9 to highest since 2008 on low inventories

A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan. Issei Kato | Reuters Natural gas surged above $ 9 per million British thermal units, or MMBtu, on Wednesday, hitting the highest level in more than a decade as dwindling inventories push prices higher. US prices … Read more

Countries banning food exports amid rising prices, inflation

Workers unload wheat sacks from a truck at a Punjab Grains Procurement Corp. facility in the Ludhiana district of Punjab, India, on Sunday, May 1, 2022. T. Narayan | Bloomberg | Getty Images India has banned wheat exports, becoming the latest country to do so as the price of grain surged this year due in … Read more

U.S., Europe to improve food chains after India bans wheat exports

PARIS – The United States and the European Union are looking at how to improve food supply chains with export restrictions from India and other nations accentuating global problems, the EU trade chief told CNBC. G-7 foreign ministers warned over the weekend that the war in Ukraine is increasing the risk of a global hunger … Read more

India bans wheat exports with immediate effect

India, the world’s second-biggest wheat producer, has blocked all exports of the grain with immediate effect. Bloomberg | Bloomberg | Getty Images India banned wheat exports with immediate effect on Saturday, just days after saying it was targeting record shipments this year, as a scorching heatwave curtailed output and local prices hit an all-time high … Read more

Natural gas prices in Europe jump after Ukraine blocks Russian flows

KYIV, UKRAINE: Director General of Gas Transmission System Operator of Ukraine LLC (GTSOU) Serhiy Makogon. GTSOU will block Russian gas flows via two key entry points in Russian-occupied territory from Wednesday, May 11, 2022. Yuliia Ovsiannikova / Ukrinform / Future Publishing via Getty Images European natural gas prices jumped after Ukraine’s state-owned grid operator suspended … Read more

How China is contributing to higher inflation worldwide in three areas

Restrictions and tariffs imposed by China in two major commodities – fertilizer and pork – have caused prices to surge worldwide. Deng Gang | Visual China Group | Getty Images Russia is guilty of creating a food security crisis and higher energy prices through its war with Ukraine, but China has – under the radar … Read more

Price of corn hits 9-year high as surge in commodities continues

Dale Nething, 86, transfers a load of corn from his truck to a grain silo on his family farm in Ravenna, Ohio, October 11, 2021. Dane Rhys | Reuters The surging price of corn hit another milestone on Monday morning as the cost of global commodities continues to push higher. The contracts for July corn … Read more

Indonesia wants to stop exporting minerals, make value-added products

Indonesia is looking to revitalize its resource sector. President Jokowi Widodo has vowed to boost the resource sector’s contribution to national GDP by increasing downstream activities. In this photo taken in October 2021, an excavator is loading up coal onto a dump truck at a coal mine operated by PT Khotai Makmur Insan Abadi in … Read more

After buying Russia’s discounted oil, India looks to buy its coal

Even as the world shuns Russian goods, India is setting its sights on Russian coal. India’s coal imports from Russia jumped in March 2022 to highs not seen in more than two years, according to commodity intelligence firm Kpler. Ritesh Shukla | Getty Images News | Getty Images India’s hunger for coal is growing. Even … Read more

‘Trade rupture’ between Russia, Germany could cause financial shock: S&P Global

A financial shock could be on the cards if there’s a “trade rupture” between Russia and Germany, warned S&P Global’s chief economist on Tuesday. “Looking at a downside scenario‚Ķ there’s kind of several different ways to play that but we think the one that would really move the macro needle is some sort of trade … Read more