Latest news and live tweets on oil, copper, corn and other energy, mining and agricultural commodities from the
@financialtimes
natural resources team.
From Exxon to Glencore to BP, oil majors and traders are cutting their Russia links adding pressure on the country's oil and gas sector that has relied on outside investment and expertise.
Russian wheat deep dive: Are grains becoming the Kremlin's new oil? Wheat has become a valuable source of foreign capital for Russia, which is looking to reduce its reliance on crude, identify new markets for its grains and extend its diplomatic reach.
Israel has launched its first-ever oil shipment from the Energean Power Floating Production Storage and Offloading unit, a landmark moment for a country once vulnerable to a lack of domestic energy supplies.
Nestlé will be the first multinational chocolate maker to pay cocoa farmers directly, starting in Ivory Coast and Ghana, as the Swiss group triples its cocoa sustainability funding to SFr1.3bn over eight years.
Another commodity near a record is copper, a metal that will be crucial in the electrification of the global economy. It made an attempt today but there is still a little way to go before it breaks $10,190 a tonne - the previous record set in 2011.
The rush for nickel is on as miners scramble for assets on expectations of soaring demand for the metal, which is used in more powerful electric-car batteries and key to bigger vehicles such as electric trucks.
Many farmers want them but NGOs say Big Ag is using climate change as a fig leaf for an unproven technology. The debate in Europe about whether gene-edited crops are "frankenfoods" or a fix for the shifting climate.
Peanuts are no longer peanuts in China as the groundnut has become the country's best-performing agricultural commodity in 2023, boosted by concerns that Beijing’s policy of prioritising soyabeans will eat into supplies.
Global commodity prices are on track for the biggest weekly rally in more than 50 years and Europe’s natural gas prices have hit a new record, as the war in Ukraine triggers “exceptional moves” in raw materials from oil to wheat.
Blow for plant based meat companies which rely on peas as a key ingredient after French group Roquette, which counts Beyond Meat as a customer, said this week that the plant protein sector was 'facing an unprecedented situation'.
The end of Covid restrictions in China has pushed up copper and iron ore prices, with the red metal passing $9,000 per tonne on Wednesday for the first time since June.
Are we in a commodities supercycle, and what exactly are we talking about anyway? Everything you wanted to ask about commodities supercycles but were afraid to ask. Read our explainer here
From our colleagues at
@NikkeiAsia
: The energy transition push will continue to put upward pressure on EV battery materials including lithium, cobalt and nickel in 2022.
Record fish deaths in 2022 have prompted a call from Scottish lawmakers for a moratorium on further salmon farming expansion as environmental and animal welfare concerns rise.
A fire in Australia at one of the largest Tesla battery installations in the world, has drawn fresh attention to the risks of batteries used to store renewable energy for electricity grids.
Russia can increase gas supplies to Europe as soon as Germany approves the new Nord Stream 2 pipeline, said President Putin, underlining Moscow’s conditions for help to resolve the continent’s energy crisis.
European supermarket chains, including J Sainsbury, Carrefour and Ahold Delhaize, will stop selling several Brazilian meat products after an investigation found they contributed to the destruction of the Amazon rainforest.
Glencore is to pay $180mn to the Democratic Republic of Congo to cover claims arising from alleged acts of corruption, taking the company's payments to authorities around to world to more than $1.66bn following investigations into its business practices.
Goldman Sachs has stepped up its trading in cobalt, and has recently been dipping into the physical metal used in EV batteries for the first time, as it latches on to one of the hottest corners of the commodities market.
Hedge funds are turning to uraniaum for the first time since the financial crisis, as the global energy crunch highlights the role of nuclear power in a transition away from fossil fuels.
Indonesia's coal benchmark price has soared to a record $150 per tonne as the energy crisis has forced China to turn to the south east Asian country after it banned coal imports from Australia last year.
Turning down the heating by 1C-2C in residential and commercial buildings across Europe would cut dependence on Russian gas by almost 10 per cent, according to new estimates.
This is pretty seismic. A Dutch court has ordered Shell to cut its carbon emissions over the next decade by 45 per cent from 2019 levels. Shell had previously pledged to lower the carbon intensity of the fuels it produces and sells by 20 per cent by 2030.
This is why European gas prices are expected to remain high: Asian buyers are winning a bidding war for American natural gas, undercutting hopes in Europe that US exports will be a quick fix for the continent’s fuel supply crisis.
Russia and Ukraine are close to extending the Black Sea grain deal after reaching a compromise with Moscow on payments of its agricultural exports and reopening a pipeline carrying ammonia that passes through Ukraine.
Opinion: Palantir Technologies’ purchase this month of $50.7m worth of gold has got the internet buzzing with conspiracy theories, but is there a bullish case to be made for the precious metal?
Gazprom has emptied its gas storage facilities in western Europe to unusually low levels ahead of the winter, adding to fears that Moscow has exacerbated the region's gas shortage to push for approval of the controversial Nord Stream 2 pipeline.
Prepare for higher gas prices this winter, warns British Gas owner Centrica, as a global supply crunch has meant gas providers in UK and Europe have been unable to fill storage during the summer to prepare for the winter, when demand is the strongest.
Canada's Brookfield Asset Management and US-based EIG Global Energy Partners are set to buy Australian LNG and energy group Origin Energy, in a $12bn bid described as a “once in a generation” opportunity to invest in the global energy transition.
Internationally traded food prices jumped 40% yoy in May according to FAO. That will hit countries reliant on food imports. Retail food inflation is also creeping up in some developed countries with analysts predicing higher prices in H2 of the year.
Is it worries about supply meeting increasing demand or a reflection of reflationary policies? Copper now down slightly after hitting 10-year high of $10,000 a tonne. Does it have enough firepower to go higher? Read our story from earlier
The US proposal to finance the phaseout of coal power from the sale of carbon credits to polluting companies has triggered a deeply divided response at its COP27 launch.
Column: As the younger generation worry it will be spending its future on a planet that is 3C warmer, the oil and gas sector is struggling to hire graduates. One survey shows 40% of 20-35s and 62% of 16-19s regard the industry as unappealing.
Covid-19 continues to wreak havoc in the global shipping industry, with India's infections hitting voyages. The industry relies on the country for seafarers, while crews come down with the disease and ports are denying entry to vessels.