Market Pulse - Commodities
Russia lifts sanctions on Iran by supplying air missile system in landmark deal
Russia lifted its sanctions on Iran Monday after world powers reached an interim deal with the Islamic Republic aimed at curbing its nuclear programme.
Analysts queue up to downgrade iron ore forecasts
Turmoil in the iron ore markets sent analysts scurrying to downgrade their respective forecasts on Monday.
Commodities: Oil, gold recover ground, coffee continues to slide
Oil benchmarks continued a tempered rise upwards; while gold climbed back above the $1200 an ounce level in Asian trading on Monday.
Chinese March export figures missed forecasts
The value of Chinese exports fell by an outsized 14. 6% year-on-year in March. However, that followed a 48. 9% rise in February, analysts at Unicredit pointed out.
Iron ore slump worsens, Dalian futures contract drops to new low
Situation in the iron ore markets has worsened with the futures contract in China dipping to a new low.
Glencore to close Singapore coal desk, consolidate Australian operations
Glencore will be closing its Singapore coal sales desk in favour of consolidating its Australian business, the company confirmed on Friday.
SocGen swoops for Jefferies futures client portfolio
Societe Generale has reached an agreement with Jefferies Group to take over the bulk of the latter’s futures client portfolio.
Commodities: Oil price rise tempered by strong dollar, gold extends losses
Oil benchmarks rose in overnight trading on comments from Iran, but the rise was tempered in Asian trading on Friday on the back of a strong dollar.
AIM explorers hail 'significant' oil discovery in Horse Hill, Southern England
Small cap oil exploration firm UK Oil & Gas Investments (UKOG) has made a ‘significant’ oil discovery in the South of England, said to be the largest onshore find in the country for 30 years.
Commodities: Oil rebounds, gold plummets below $1200
Oil benchmarks began Asian trading in the green on Thursday following overnight losses as record March production data from Saudi Arabia and a rise in US inventories knocked the prices down by nearly 3% overnight.
Crude futures drop as US inventories hit 80-year high
Commercial US crude oil inventories jumped sharply over the seven days ended on 3 April.
China mulls iron ore subsidy as market rout continues
The Chinese government is drawing up plans to subsidise the country’s iron ore sector in wake of the wider market slump, according to an official channel.
Oil and gas companies likely to reveal weaker first quarter data, Moody's says
As oil and gas companies position themselves to publish trading data for the first three months of the year, Moody’s says not many will come out with a strong set of figures.
Commodities: Oil, gold retreat but Chilean disruption seen supporting copper
Oil markets pared overnight gains in early Asian trading largely driven by a string of news from Saudi Arabia in recent days.
Lifting sanctions on Iran could lower crude price by $10 per barrel, EIA says
Should the current oil sanctions on the Islamic Republic of Iran be lifted then world crude oil prices could be pushed between 5 and 15 dollars lower than would otherwise be the case, a US government agency said.
Oil recovers from weekly lows, sentiment remains bearish
Finding a stable oil price floor remained hard to come by as trading volumes picked up on Tuesday after the Easter break.
Oil prices set to remain low for next three months, says Goldman Sachs
Oil prices are set to remain low for the foreseeable future, analysts at Goldman Sachs have warned.
Commodities: Oil recovers, gold jumps to seven-week high
Oil market benchmarks staged a recovery following declines in pre-Easter trading on the back of Iranian nuclear talks ending in a settlement. It is thought that Iran has 40m barrels of crude oil in storage ready for international sale when permitted.
Commodities: Gold, Silver perform better while oil rises on Iran stalemate
The commodities market enjoyed one of its better days in almost two months with precious metals, crude oil and base metals either maintaining day before levels or ending Wednesday trading higher.
Iron ore prices slump to 10-year low, mining stocks pummelled
The price of iron ore has plunged below $50 per metric tonne for the first time in over 10 years, as oversupply and lacklustre Chinese demand continue to hound the market.