Commodities

Exxon Mobil Corp reported a $9.1 billion third-quarter profit, about a 54% drop from record earnings a year ago. The decline comes as oil prices retreat from higher levels.

Chevron's third-quarter earnings missed Wall Street estimates by a wide margin, sending its share price down despite its recent megadeal with Hess.

Oil prices are expected to remain volatile as Israel mounts assaults in Gaza after surprise attacks by Hamas killed 1,300 Israelis. Now Iran is throwing its weight into the fight.

The global oil market got a jolt following the attacks on Israel, as did the U.S. stock market and now investors are trying to gauge how long the instability may last.

Pioneer Natural Resources shares spiked on rumors Exxon Mobil is closing in on a deal to purchase the company in what could be a $60 billion deal, The Wall Street Journal reported.

Costco members have taken to social media and Costco.com to review the 24-karat, one-ounce bars of gold being offered by the wholesaler. The bars come in two varieties with varying prices and sell out quickly.

Bunge will buy Viterra for $8.2 billion. The acquisition will come alongside a $2 billion stock buyback and will merge ownership through a stock and cash deal.

Goldman Sachs lowered its 2023 outlook for crude prices by almost 10% citing a number of factors, even after Saudi Arabia's surprise production cut took the global markets off guard.

The destruction of Nova Kakhovka dam in southern Ukraine has sent global prices of corn and wheat soaring, stoking fears about more disruptions in the global supply chain.

Activist investor Elliott Investment Management LP, wants the energy company to appoint five new independent board members it has identified and selected.

The World Gold Council reports that the precious metal’s demand is on the rise and predicts it may reach record levels in 2023 fueled by economic uncertainties and the ballooning bank crisis.

The World Bank expects much of the fall that has already occurred to now be steady for the remainder of the year, with prices possibly lifting in 2024.

ExxonMobil and Chevron are working together on developing new gasoline formulas that will bring down emissions to compete with electric vehicles.

Exxon Mobil is reportedly in preliminary discussions to acquire Pioneer Natural Resources as part of the oil and natural gas producer’s Permian Basin strategy.

The price of gold is nearing a record as the latest JOLTS report showed job openings are down as manufacturing activity slows, weakening the U.S. dollar against the euro and pound.

Amid inflationary pressures and a weakened U.S. dollar, experts predict Wall Street will gravitate towards material wealth in precious metals like gold and silver, sending both to record highs in 2023.

An apparent mix-up at a warehouse in Rotterdam led to JPMorgan Chase buying what it thought was $1.3 million worth of nickel but turned out to be bags of stones.

Solar installation fell in 2022, largely due to the limited availability of panels caused by a ban on some Chinese goods.

Miners are cutting back on dividends and plowing back earnings into expanding capacity as EVs and the shift to renewables spark demand for rare earth elements.

Glencore had one of its greatest years on record, cutting debt to $75 million from $6 billion, and returning $7.1 billion to shareholders, as demand soars.