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As the global elite gathered for the World Economic Forum this week, various multilateral organisations and governments have warned of what could become the worst food emergency in decades. The war in Ukraine has ground agricultural commodity exports from the country to a virtual halt, and has come on top of deteriorating food security caused by droughts and the pandemic. Since the invasion, wheat and corn prices have increased 41 per cent and 28 cent respectively, as Russia and Ukraine combined represent about 30 per cent of global wheat exports, with both countries having a large share of corn and sunflower oil export markets.

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27 May, 2022 / 04:00

Energy security has become a top priority for importers as forecasts of tighter gas supplies and volatile prices in the next few years are keeping buyers on edge and impeding the push towards decarbonisation, energy executives said. Europe is importing record volumes of liquefied natural gas (LNG) as gas from its top supplier Russia has been disrupted following the Ukraine crisis. "Geopolitical conflicts have made gas markets unstable," Yalan Li, chairperson of the board of directors at Beijing Gas Group said at the World Gas Conference.

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27 May, 2022 / 03:55

Brent crude futures for July were down 21 cents, or 0.2%, at $117.19 a barrel at 0642 GMT after rising as high as $118.17 earlier in the session. U.S. West Texas Intermediate (WTI) crude futures were down 24 cents, or 0.2%, at $113.85 a barrel. "Supply concerns are definitely in focus as (the) U.S. product market has tightened significantly, while the European Union is still considering ban on Russian crude exports," said Madhavi Mehta, commodity research analyst at Kotak Securities.

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27 May, 2022 / 00:31

Global liquefied natural gas (LNG) buyers and sellers are bracing for more uncertainty over Russian supplies and an unclear demand outlook from Europe and top importer China in the run-up to the peak winter season, industry executives said. Western sanctions on Russia due to the Ukraine invasion have disrupted Russian gas supply to Europe, sending global gas prices to all-time highs earlier this year and raising energy security concerns. In addition to unpredictable weather, it remains unclear whether there will be further cuts in Russian supplies to Europe, the executives said.

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27 May, 2022 / 00:25

Buyers in both Europe and Asia have announced a flurry of long-term LNG contracts in the past weeks, looking for long-term energy security and stability above all other factors

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26 May, 2022 / 23:00

Finally the FT gives voice to reason, in this instance Saudi Aramco’s chief executive Amin Nasser, interviewed by Roula Khalaf and Tom Wilson (Interview, May 25). Governments across the globe are reluctant to license coal and other carbon-heavy ventures.

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26 May, 2022 / 23:00

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26 May, 2022 / 22:00

While the price of gasoline frequently steals all the headlines, the price of diesel is actually more important when it comes to the cost of living and the economy.

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26 May, 2022 / 22:00

Silver prices edged lower as yields remained little changed.

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26 May, 2022 / 22:00

Natural gas prices moved higher on warmer weather expectations.

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26 May, 2022 / 22:00

Low crude oil production means Nigeria is barely able to cover the cost of imported petrol from its oil and gas revenue, Finance Minister Zainab Ahmed told Reuters on Thursday. Ahmed added in an interview at the World Economic Forum in Davos that she hoped Nigerian oil production would average 1.6 million barrels per day (bpd) this year, up from around 1.5 million bpd in the first quarter. The government had budgeted 1.8 million bpd of production, Ahmed said, blaming crude theft and attacks on oil infrastructure for the shortfall.

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26 May, 2022 / 21:24

U.S. President Joe Biden is considering lifting tough sanctions on Venezuela, but only if Maduro resumes negotiations

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26 May, 2022 / 21:00

A rally in U.S. stocks gained momentum Thursday, placing markets on track to snap a 7-week losing streak.

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26 May, 2022 / 20:04

(Bloomberg) -- The invasion of Ukraine has put the US and Europe on a wartime mission to abandon Russian fossil fuels. This series looks at speeding up zero-carbon alternatives by lowering political and financial barriers. Sign up here to get the next story sent to your inbox.Most Read from BloombergUkraine Latest: US Slams Putin’s Food-for-Sanctions Relief PlanTop Gun: Maverick's F-18 Flights Cost New Tom Cruise Film $11,374 an HourRare Ship-to-Ship Transfers Keep Oil Moving From Russia to Chin

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26 May, 2022 / 20:00

The Canadian dollar strengthened against its U.S. counterpart on Thursday as a jump in oil prices and improvement in risk appetite offset domestic data showing that retail sales growth stalled in March. The loonie was up 0.3% at 1.2775 to the greenback, or 78.28 U.S. cents, moving toward the stronger end of its range over the last week or so, which has been between 1.2762 and 1.2895. "Higher oil prices are helping lift the loonie today," said Erik Nelson, a currency strategist at Wells Fargo in New York.

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26 May, 2022 / 19:22

Oil prices end sharply higher Thursday, buoyed by tight supplies of U.S. crude and gasoline ahead of the start of summer driving season.

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26 May, 2022 / 19:14

Global oil and gas investment is set to rise by 20% this year, according to Rystad Energy, with growth driven by soaring oil prices and big money flowing into projects in Brazil, Guyana, West Africa and Australia

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26 May, 2022 / 18:00

Although storage levels are anemic and trending in the wrong direction, the keys to sustaining the rally will be low output and hot weather.

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26 May, 2022 / 17:44

Venture Global LNG's chief executive on Thursday said he expects the U.S. liquefied natural gas (LNG) company to make a final decision to build the second phase of the Plaquemines export plant in Louisiana before the end of the year. "We have (the second phase) largely sold out already," Michael Sabel told Reuters, noting that the company was doing a "decent amount" of work on phase 2 as part of the first phase of the project. Venture Global made a final investment decision (FID) on Wednesday to build phase one at Plaquemines, the first U.S. LNG project to reach financial close since the company's Calcasieu Pass in Louisiana in August 2019.

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26 May, 2022 / 17:18

Hungary needs 3-1/2 to 4 years to shift away from Russian crude and make huge investments to adjust its economy and until there is a deal on all issues, it cannot back the EU's proposed oil embargo, a top Hungarian aide said on Thursday. Prime Minister Viktor Orban's chief of staff, Gergely Gulyas told Reuters it was not the transition period which was the biggest problem standing in the way of an agreement. The European Commission this month proposed new sanctions against Russia for invading Ukraine but they require the unanimous support of all 27 EU member states and landlocked Hungary, which is heavily reliant on Russian oil imports via a pipeline, has been blocking them.

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26 May, 2022 / 17:17