Market Pulse - Commodities
Conroy Gold discovers new target in Ireland
Gold explorer Conroy Gold and Natural Resources has found a new target in Ireland, the company confirmed on Tuesday.
Commodities: Oil lower on Saudi output, precious metals maintain levels
Oil markets were trading lower in Asia on Monday, with oversupply concerns dominating market chatter.
Interview: BP leveraging digital pathways to improve efficiencies
BP is harnessing digital technologies to improve efficiencies and drive down costs across its upstream and downstream divisions, according to David Eyton, group head of technology at the oil and gas giant.
Zimbabwe takes its local dollar out of circulation
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya announced late on Thursday the withdrawal of the Zimbabwean dollar, formalising a multi-currency system introduced in 2009 to help support inflation and stabilise the economy.
Commodities: Oil benchmarks decline, gold holds levels as base metals rout continues
Oil benchmarks were in retreat on Friday, with traders in indulging profit-taking given relatively higher pricing levels of late and the International Energy Agency raising fresh oversupply concerns.
US surpasses Saudi Arabia as world's biggest oil and gas producer
The US overtook Saudi Arabia as the world's biggest oil producer in 2014, with 1. 6m barrels per day against 1. 5m, BP's Statistical Review of World Energy revealed on Wednesday.
Commodities: Oil down on oversupply sentiment, base metals trade lower in Europe
Oil benchmarks were trading down past midway point in European trading on Thursday, as oversupply sentiment dogged the market after Saudi Arabia published its latest production data, and the US Department of Energy said a correction in the country’s production level may not arrive meaningfully until 2016.
Oil futures jump following slump in weekly US oil inventories
US weekly oil stockpiles dropped by the most since July according to the latest government statistics.
Brazil to sell infrastructure concessions worth $65bn
The Brazilian government is poised to sell new private concessions for transport infrastructure projects worth $65bn, equivalent to about 3. 5% of the country's GDP.
Commodities: Brent-WTI spread narrows before US oil inventories data, gold continues recovery run
Oil benchmarks maintained previous session’s highs in European trading on Wednesday, continuing a sequence of bullish calls in anticipation of US inventories declining further.
Commodities: Gold limps back up, oil maintains level but base metals fall on Chinese data
Gold continued its limp recovery in early European trading on Tuesday after plummeting to an 11-week low last week, while oil benchmarks held firm above the previous session’s levels.
Profitability of European steelmakers expected to stay low, says Moody's
Low steel prices will hurt the profitability of European steelmakers, particularly of those with a large exposure to the US market, according to Moody's.
Peña Nieto holds onto power after Mexico's election
President Enrique Peña Nieto's Institutional Revolutionary Party (PRI, as abbreviated in Spanish) seems to have won the country's elections held in Mexico on Sunday, where 83 million citizens were called on to vote and choose who would sit in the 500-member lower chamber of parliament, nine state governorships and more than 1,600 other officials.
Commodities: Oil slides post OPEC, gold stems decline after falling to 11-month low
Oil benchmarks continued to trade lower on Monday following OPEC’s decision to hold its daily production quota at 30m barrels per day (bpd) last week. The cartel, which is already said to be pumping in excess of 31m bpd, also said the “quota” was actually more of a “recommendation” to its 12 oil producing member nations.
OPEC holds oil production quota at 30mbpd, says it will "leave prices to the market"
OPEC has decided to maintain its oil production quota at 30m barrels per day (bpd) in line with market expectations following the conclusion of its meeting in Vienna, Austria on Friday.
OPEC agrees to keep output at 30 million barrels per day, reports claim
The cartel of oil producing countries has decided to maintain its level of "output" unchanged at 30m barrels per day according to delegates cited by The Wall Street Journal.
Oil market 'balanced', producers inexorably looking to Asia, says Saudi oil minister
The oil market is well balanced with more than adequate supplies, Saudi Arabia’s oil minister Ali Al-Naimi said, ahead of the latest OPEC ministers meeting in Vienna, Austria on Friday.
Rethink strategy, look to India and China, say Big Oil bosses
The oil and gas sector needs to fundamentally rethink operational strategy and learn to work at lower oil prices, according to chief executive officers of several major oil and gas companies who are present at the two-day OPEC International Seminar in Vienna, Austria.
Unconventional oil and gas exploration 'here to stay', says ConocoPhillips CEO
Unconventional oil and gas exploration, such as US shale and offshore deepwater drilling, are here to stay according to Ryan Lance, CEO of ConocoPhillips.
Commodities: Oil continues to slide as OPEC seminar nears conclusion
Oil benchmarks continued to trade lower on Thursday, as the OPEC International Seminar neared its conclusion with ministers set to meet formally on Friday.