Market Pulse - Commodities
Commodities: Demand concerns drive oil lower, gold continues to recover as copper falls
Overnight reports of a decline in US crude oil inventories failed to support market benchmarks on Thursday as concerns over weaker demand sent prices lower in Asia.
Commodities: Oil, gold recover on weaker dollar, soybean futures plummet
Oil markets began broadly in the green on Wednesday, building further momentum from overnight gains in the US.
OPEC pumps 30.93m bpd, expects marginally improved market share
The Organization of the Petroleum Exporting Countries (OPEC) posted its oil production total at 30. 93m barrels per day (bpd) in April, up 210,000 bpd from March, in its final monthly output report before the cartel meets to review its output.
Global copper supply impingement 'severely underestimated', says Citi
Missed copper production targets over the first quarter of the year suggest supply impingement has been underestimated, according to analysts at Citigroup.
Commodities: Oil, gold slip back while base metals ease off
Oil benchmarks continued to slip further in Asian trading on Tuesday as market sentiments about declining US production dissipated further.
China becomes world's biggest crude oil importer
China became the world’s biggest importer of crude last month, overtaking the United States for the first time, despite a sluggish economy.
Saudi Arabia and Bahrain monarchs to snub Washington summit
Saudi Arabia’s King Salman has announced he will not attend a meeting to be hosted by US President Barack Obama on Thursday.
Commodities: Mixed picture in oil markets, gold flat but base metals on sound footing
Oil markets have started the trading week on a mixed note in Asia with the WTI marginally down, and Brent broadly in flat territory on Monday.
BP given right to appeal certain oil spill claims
BP has been granted the right to appeal some of the oil spill claims made against it in relation to the 2010 Gulf of Mexico oil spill.
IGas slashes headcount in face of falling oil price
London-based IGas is planning to slash its workforce by more than a quarter in the face of weaker oil prices.
Commodities: US jobs report met with indifference
The commodities space ended the day on a mixed note following a US jobs report that economists at Barclays described as ‘neither too hot nor too cold’, for which reason they believe the Fed is on track to first raise rates come September.
Commodities: Oil retreats from overnight spikes, gold falls back
Both oil benchmarks retreated from overnight gains while gold also went into reverse in Asian trading on Thursday.
Commodities: Oil, base metals at year highs as cocoa futures spike
Oil futures added to overnight gains while base metals touched year highs in early Asian trading on Wednesday.
Oil jumps on Saudi price revisions
Both oil benchmarks jumped from the lull in Asian trading on Tuesday following Saudi Arabia’s decision to raise its asking price for crude oil exports to Europe and North America.
Commodities: Oil weak on oversupply concerns, Chinese data dents copper
Both oil benchmarks began Asian trading lower on Tuesday as oversupply concerns returned to dominate market sentiment, while Saudi Arabia mulled a halt to bombing in Yemen.
Goldman Sachs could sell its Colombian coal unit
Goldman Sachs is said to be in talks to sell its coal production unit in Colombia at loss, the Wall Street Journal reports.
Saudi King separates Aramco from oil ministry, benchmarks fall on Iraqi production
Aramco, Saudi Arabia’s national oil company, is to be separated from the country’s oil ministry following an edict issued by King Salman.
Commodities: Gold falls, oil markets and base metals strengthen
Gold plummeted below the pivotal $1200 mark while Brent oil held firm just below $67 per barrel in Asian trading on Friday, as the market continued to move on sentiments entrenched earlier in the week.