Latest from Commodities

Oil slips below US$44 briefly

Oil prices closed higher after a volatile session that saw the New York price drop below US$44 a barrel for the first time since March 2009.

Dairy prices below sustainable levels - report

Oil explorers pull back on drilling plans

Plunging oil prices have forced explorers to scale back plans in New Zealand, some have had to restructure and there could be a sharp decline in capital spending in a sector the Government has backed....

Aussie gas industry set for a big year

Australia's coal seam gas extraction industry is set for a bumper year in 2015, but the petroleum exploration sector isn't.

Editorial: Increase in oil margins needs explaining

It has become standard for tough questions to be asked of oil companies when the price of petrol rises or falls dramatically.

Editorial: Falling oil price carries a downside

Petrol prices dropped for the 12th successive time this week and even better news appears to lie ahead for holiday motorists.

Kiwi consumers winners in oil slump

The sharp fall in oil prices is set to continue benefiting consumers but could delay exploration projects around New Zealand.

Brian Gaynor: Petrol price still too high

The sharp decline in oil and dairy prices could have a huge impact on the domestic economy as the former is our largest import item and the latter our biggest export earner.

$8m fund largely for surveys

Most of $8 million the Government is putting into mineral and oil and gas geotechnical studies will be spent on aerial aeromagnetic surveys.

Oil slide saves airlines $8.9b

Plunging oil prices are saving airlines US$7 billion ($8.9 billion) this year on jet fuel - and the leader of one of the big three airline alliances says this is helping profitability in an industry....

Diamond hunters give up on gems too hard to find

Diamonds are so hard to find that explorers have pretty much given up trying.

World on brink of oil price war

A secretive group of the world's most powerful oil ministers will soon gather in Vienna to take one of the most important decisions to affect the still fragile world economy.

Deckhands paid like bankers threaten iron ore port strikes

Tugboat crews are threatening to disrupt shipments from the world's biggest iron ore port as they negotiate for increased wages.

Meridian raises dividend

Meridian Energy has fattened its dividend and is hinting of a possible return of capital next year after beating prospectus forecasts in its first annual result.

Oil and gas spending soars

Oil and gas exploration and development spending was up 7 per cent last year to almost $1.6b, according to the latest official figures which also show a big jump in gas reserves.

Exxon begins drilling in Russia - despite sanctions

Despite all the talk of action against Vladimir Putin, Exxon Mobil, the largest US energy company is undeterred, starting work on $700m oil well in the Arctic.

Deep water fracking the next oil frontier

Energy companies are taking their controversial fracking operations from the land to the sea - to deep waters off the US, South American and African coasts.

Refinery outages push oil price lower

Oil prices in New York have tumbled to their lowest level since mid-March helped by unplanned refinery shutdowns in the US midwest.