Market Pulse - Commodities
Commodities: Oil, metal futures in recovery mode
Oil benchmarks were on a positive footing on Monday, while selected metal futures traded higher as Chinese copper miners announced production cuts over the weekend.
Commodities: Metals slide on profit taking, oil continues lower
Metal futures shed gains on Friday with oil benchmarks also heading lower for a third successive session as the weekend approached.
Commodities: Metals extend gains, oil continues to slide
Metal futures extended gains on Thursday, while oil benchmarks headed lower for the second successive session.
Commodities: Oil retreats, base metals continue recovery run
Oil benchmarks shed overnight risk driven gains to trade lower on Wednesday, while base metal futures extended the previous session’s recovery.
Commodities: Oil up on geopolitical tension, metals recover
Oil benchmarks escaped recent oversupply concerns on Tuesday to post upticks following geopolitical tensions in the Middle East, while metals recovered on short covering after massive overnight declines.
FX Roundup: Dollar extends gains against major crosses
The dollar surged against a basket of global currencies on Monday, with the likelihood of an interest rate hike by the US Federal Reserve as early as December being priced in by Asian and European traders.
Commodity gauge drops to 1999-lows, euro slips again
The Bloomberg Commodity index plumbed a 16-year low on Monday even as oil futures bounced back on a statement from the Saudi cabinet saying the country stood ready to use all measures to keep the market stable.
Commodities: Oil recoups losses, metals hammered in Europe
Oil benchmarks recouped losses late on Monday, while metals took another hammering in European trading.
Saudi willing to use all measures to keep market stable
The Saudi government said on Monday it was willing to use all measures necessary to ensure a stable oil market.
Commodities: Oil trades sideways for third successive session
Oil benchmarks stayed within range of recent levels on Friday, hounded by oversupply concerns, while base metals recovered on short covering as the weekend approached.
Commodities: WTI resists drop below $40, metals hammered in Europe
Oil benchmarks went sideways on Thursday as WTI futures resisted a drop below $40, while base metals took another hammering in European trading.
Intl. FC Stone sees grim times for copper in 2016
Miners left in ‘shell-shock’ by the slide in copper prices will need to shake it off quickly and start cutting output much more deeply as consumption of the metal in Asia’s largest economy stops growing.
Commodities: Oil fluctuates within $2 range, metals hit new low
Metal futures hit fresh lows on Tuesday, while oil benchmarks stayed within range of recent levels hounded by oversupply concerns.
Impact of terrorist attacks will be transitory, Fed's Lacker says
Speaking on CNBC’s “Squawk Box” programme, the president of the Federal Reserve bank of Richmond, Jeffrey Lacker, said he still saw a need for interest rates to rise – immediately – Stateside.
Commodities: Oil, metal futures fail to escape recent levels
Oil and metal futures saw lacklustre trading on Tuesday, staying near recent levels hounded by oversupply issues, Japan’s entry into a recession and persistent concerns about China’s demand.
Commodities: Metal, oil futures continue to falter
Oil futures headed lower on Monday hounded by oversupply concerns, while metal futures slipped into negative territory over late afternoon trading in Europe.
Fears over sovereign wealth funds pulling assets overblown, Morgan Stanley says
Fears that sovereign wealth funds would pull out of equity markets – say, as some countries tried to shore up their public finances in the face of lower oil prices – and the impact that might have on asset managers and banks were “overblown,” analysts at Morgan Stanley found.
Commodities: Oil hits fresh lows on IEA data but metals recover
Oil futures took another hammering on Friday, as the International Energy Agency warned that global crude stockpiles were currently at a record high of 3bn barrels.
Moody's downgrades steelmaker ArcelorMittal
The world's largest steel company ArcelorMittal has seen its credit ratings downgraded by Moody’s.
Bankers Petroleum appoints Albania vice-president
Bankers Petroleum strengthened the management of its Adriatic operations on Friday, with the appointment of Kristofer Gustafsson to the role of vice-president, production and operations in Albania.