Market Pulse - Commodities
Commodities: Oil rises on Syria, metals continue to trade lower
Oil futures rose on news that US President Barack Obama has authorised entry of the country’s Special Forces into the Syrian conflict on Friday, while metals continued with yet another lacklustre session.
Improvement in base commodities complex expected, Citi says
Some macroeconomic indicators might have been pointing to scope for near-term improvement in the shares of commodities-related companies, Citi said in a research note sent to clients.
Commodities: Oil futures mixed, gold dips post FOMC statement
Gold futures were in negative territory on Thursday, after the US Federal Reserve decided to keep interest rates unchanged overnight at 0. 25%, as expected by analysts, but left the door open to an increase in December.
Commodities: Oil in intraday rally, base metal futures tumble
Oil benchmarks traded higher on Wednesday following overnight declines, while base metal futures took another tumble in European trading.
Commodities: Oil prices slide as US plans to sell down strategic oil reserve
Oil prices slipped lower on Tuesday afternoon as the US government signed off on a deal to sell millions of barrels of crude from its Strategic Petroleum Reserve from 2018 until 2025 to raise cash.
Serica Energy inks deal with BG and SSE
Oil explorer Serica Energy has reached a deal with BG Group and SSE to increase its resource stake in the Columbus Field offshore the UK by 50% to 7. 8m barrels of oil equivalent.
Natural gas prices drop to 2012 lows, below $2 per MMBtu
Natural gas prices plumbed their lowest levels since 2012 on a combination of negative demand and supply factors.
Oil price set for recovery in 2016, UAE official says
Low oil prices are headed higher, a top-ranking policy-maker from the United Arab Emirates has said, with a range of $70-$80 per barrel ideal thereafter.
Commodities: Metal and oil prices slide as dollar strengthens
Metal and oil prices were under pressure on Friday as the dollar strengthened and as rate cuts by China’s central bank failed to calm concerns about the country’s economic slowdown.
IMF said to hint at blessing for China reserve currency status
Representatives from the International Monetary Fund have told China that its currency, the yuan, is likely to join the fund's basket of reserve currencies soon, according to Chinese officials with knowledge of the matter, Bloomberg reported.
Commodities: Oil and precious metals under the cosh
Oil prices fell on Wednesday after data from an industry body showed a bigger-than-forecast increase in US crude inventories, adding to worries of an oversupply in the sector.
Commodities: Oil adds to losses ahead of OPEC technical meeting
The commodities complex found a small bid courtesy of a slight retreat in the greenback and against a backdrop of relatively stable risk sentiment.
S&P hails India's improved monetary credibility
India’s external position and institutional strengths were seen underpinning the country’s credit worthiness in the short-term, but its historical weaknesses would act as an impediment to any improvement, analysts at Standard&Poor’s said.
Commodities: Precious metals rally on hopes of US rate hike delay, China stimulus
Precious metals rallied on Wednesday as the dollar fell to a seven-week low on expectations the Federal Reserve will delay an interest rate hike.
Commodities: Oil fluctuates, base metals tumble on China slowdown fears
Base metals registered declines on Tuesday, while oil benchmarks alternated between gains and losses for much of the Asian session, as fears of an economic slowdown in China and oversupply permutations returned to haunt the market.
Commodities: Oil drops on OPEC data but metals recover
Oil futures plummeted on Monday as OPEC revealed a further rise in its production level, while gold rose and selected agricultural commodities posted declines.
OPEC raises view on 2015 oil demand
The Organisation of the Petroleum Exporting Countries will need to hike production to meet the world’s increased thirst for oil in 2015 and 2016 amid lower supplies from outside its own ranks, according to an internal report.
Mexico's oil and gas licensing process will continue at pace, says official
Mexico will continue opening up further oil and gas exploration blocks at pace, including onshore and deepwater prospects, to international and private sector players, according to a senior official.
Commodities: Metals rally but oil futures see correction on profit taking
Oil futures headed lower as profit taking took hold on Friday, while metals recovered from previous lows in the absence of any major intraday data influencing the commodities market direction.
Commodities: Oil futures continue upward momentum, metals head lower
Oil futures headed higher with Brent capping the $53-level on Thursday, as supply correction sentiment and rising tensions in the Middle East lent support to prices, while precious metals saw lacklustre trading in Europe yet again.