Market Pulse - Commodities
Commodities: Oil stabilises at lower levels in Europe, tin down to record lows
Oil benchmarks stabilised in mid-afternoon European trading, albeit at lower levels, following marked overnight declines stateside and during early Asian trading.
US warns Iran even as it says deadline extension possible
Western officials said late on Monday it was not clear whether Iran and six world major powers would be able to reach a comprehensive deal on the country's nuclear programme in time to meet aninternational deadline.
Commodities: Oil, base metals slide in Europe, but gold holds firm on safe haven demand
Oil benchmarks and base metals slid further in European trading as oversupply concerns and the possibility of a Greek debt default triggered a sell-off.
Commodities: Copper gets respite, but oil and most base metals dive
Bearish sentiments appeared to be entrenched in the European metals market on Friday courtesy of a combination of factors including lower anticipated Chinese demand, lack of a stimulus from Beijing, oversupply concerns and protracted negotiations over the Greek debt crisis.
EU will struggle to reduce natural gas imports from Russia, experts say
The European Union would find it difficult to reduce its reliance on natural gas imports from Russia, according to industry experts.
Commodities: Base metals rally runs out of steam in Europe, oil slips on US data
Base metals rally fizzled out over a volatile session on Thursday, as the Greek debt crisis weighed on commodities trading volumes across the spectrum while US inventories data clobbered the oil markets.
Commodities: Gold pummelled but base metals recover in European trading
Gold futures were firmly in retreat mode on Tuesday with signs of a possible resolution to the Greek debt crisis denting confidence in the precious metals market as their safe haven tag seemed to be slipping.
Engineering and construction firms' prospects mixed as low oil price bites, says Moody's
Engineering and construction companies are likely to see mixed prospects over the course of 2015 in wake of the oil price decline, according to Moody’s.
Commodities: Base metals recovery continues in Europe as gold falters
The base metals market continued to recover for a second successive session on Wednesday, driven by positive Chinese and US data, and oversupply concerns easing.
Syrian army regains control over Jazal oil field
The Syrian army and its allied militia on Wednesday regained control over the Jazal oil field near the city of Palmyra, the country's state television reported.
Buhari says Nigeria's treasury is "virtually empty"
Nigeria's new President Muhammadu Buhari said the country's treasury was “virtually empty”, less than a month after taking office as President.
Commodities: Oil benchmarks recover after Saudi comments, gold retreats
Oil benchmarks were recovering from early lows in Asia at the start of the new trading week, following comments from Saudi Arabia that it was ready to up production if demand rises in emerging markets.
Commodities: Gold rides high on safe haven tag, cocoa futures rally continues
Base metals saw red on Friday, while precious metals in general and gold in particular, continued to trade higher in Europe as concerns over a possible Greek debt default saw investors flock to the precious metals market.
Commodities: Oil stays in the green, precious metals surge in Europe
Oil benchmarks stayed in green territory over early European trading on Thursday, supported by a drop in US stockpiles.
Wood Group picks up Saudi Aramco contract
Energy services company Wood Group has won a contract from Saudi Armaco, the Dhahran headquartered firm which is the world’s largest oil and gas company.
Hundreds of Nigerians are trafficked into the UK
British anti-slavery commissioner Kevin Hyland reported on Wednesday an increase in human trafficking into the country, with the majority of victims arriving from Nigeria.
Commodities: Oil stages recovery in Europe, precious metals slip ahead of Fed decision
Oil benchmarks were staging a recovery back to the previous week’s levels in European trading on Wednesday, as the spread between Brent and WTI continued to narrow below $5 per barrel.
Nestle to reduce its presence in Africa
Global food giant Nestle will reduce its business in Africa after concluding that consumption of its products in the region by shrinking middle income groups was "extremely small" and "not really growing. ".
Firmer dollar, plentiful supply holding back oil price rise, says IEA executive
Firming up of the dollar against a basket of global currencies and current record levels of oil production will continue to hold back oil benchmarks from spiking over the medium term, according to Keisuke Sadamori, director of energy markets and security at the International Energy Agency.
Commodities: Oil continues to slip, base metals trade sharply lower in Europe
Concerns over the oil oversupply situation being exasperated by additional Iranian barrels – should nuclear talks with the Islamic Republic end on a positive note – continued to weigh on trading sentiment on Tuesday.