COMMODITIES

The collapse of the Black Sea export corridor should have little immediate impact but over the medium term create market tension and push up food prices.

Ukraine's ministry of renovation and infrastructure said on Thursday the U.N.-brokered Black Sea grain export deal had been halted again because Russia had blocked registration of ships to all Ukrainian ports.

The Group of Seven (G7) coalition will keep a $60 per barrel price cap on seaborne Russian oil, a coalition official said, despite rising global crude prices and calls by some countries for a lower price cap to restrict Moscow's revenues.

The shock reduction will start in May and last until the end of the year.

Oil prices jumped more than $5 a barrel on Monday's open, jolted by a surprise announcement by OPEC+ to cut production further in an effort to support market stability.

Crude prices moved in a narrow range in early Asian trade on Tuesday after rallying in the previous session, with oil markets focused on developments in the banking crisis as well as on supply concerns and indications of strengthening demand.

Oil prices climbed in early trade on Monday as concerns over turmoil in the banking sector eased, while comments by Russian President Vladimir Putin over the weekend ratcheted up geopolitical tensions in Europe.

China is expected to account for around 40% of the increase in global oil demand this year as its economy emerges from strict lockdowns, but the increased use will not take prices back to 2022 levels, consultancy Wood Mackenzie said on Thursday.

Global LNG industry to face challenges in the medium-to-long term says IEEFA, predicting that there will be "sustained high global LNG prices and declines in gas consumption in Europe".

Goldman Sachs expects a commodities supercycle driven by China and the capital flight from energy markets and investment this month after concerns triggered by the banking sector, the U.S.

Oil prices stabilised on Tuesday after falling early in the previous session on investor worries that recent banking-sector problems would weigh on the global economy and limit demand for crude.

Oil steadied on Thursday after a two-day decline as strike-disrupted fuel supply in France, a drop in U.S.

Oil prices steadied in early Asian trade on Wednesday as industry data showed a draw in U.S. crude oil inventories.

BP hasn't fallen out of love with renewables. It just wants to have more power.

Oil prices edged up after industry executives flagged concerns about limited spare capacity in the market and uncertainty over Russian supplies while demand from top crude importer China is recovering.

Oil prices opened lower on Monday after China set a modest target for economic growth this year of around 5%, lower than market expectations of 5.5% growth in the world's second- largest oil consumer.

Shortages of fruit and vegetables -- from broccoli, cucumbers and lettuce, to tomatoes, peppers and raspberries -- have served up a blame game in Britain.