Market Pulse - Commodities
IEA says global oil stocks at record high, may weigh on oil prices
Global oil inventories hit a record near-3bn barrels at the end of September, the industrialised world’s energy watch-dog said on Friday.
Syngenta jumps on news of Chinese approach
China National Chemical is intent on carrying out the largest ever acquisition of a company in Europe, according to people familiar with the matter, Bloomberg reported.
Oil glut biggest since financial crisis, OPEC says
Sustained low oil prices have seen the Organization of Petroleum Exporting Countries maintain their forecasts for global demand in 2016 as consumer nations increase their purchases.
Commodities: Oil pummelled by US inventory data, increasing Iraqi exports
Oil futures took a hammering on Thursday on rising US stockpiles and evidence of increasing Iraqi oil exports.
Oil futures drop after US weekly inventory data
Weekly US oil inventories jumped last week according to the latest US government data.
Commodities: Oil futures plummet as copper heads sideways
Oil slipped lower on Wednesday after preliminary US stockpile data pointed to an inventory uptick, while copper futures headed sideways in a session marked by lower trading volumes as North American markets took a break for the Veterans Day holiday.
Commodities: Copper futures plummet to fresh six-year lows
Oil markets saw another day of lacklustre trading on Tuesday, while copper futures fell to fresh six-year lows on poor economic data from China.
Commodities: Oil sees lacklustre trading as Saudis maintain output
Oil futures saw lacklustre trading on Monday, as Saudi Arabia indicated it would not lower its crude production levels while Fitch Ratings cut its oil price assumptions.
Saudi officials tell FT Kingdom will not lower output
Saudi Arabia would continue pumping oil at its current to defend its market share, despite the pain to the country's finances, senior officials told the Financial Times.
Commodities: Dollar spike pummels precious metals, oil heads lower
The precious metals market registered huge declines on Friday, as a positive US jobs report, seen to be increasing the likelihood of an interest rate hike, sent the dollar soaring to record intraday highs against a basket of global currencies.
White House to again reject Keystone XL pipeline
Barack Obama will again reject the application to build the massive Keystone Xl oil pipeline between Canada and the US, according to reports.
Commodities: Oil plummets, copper drags base metals lower
Oil futures endured a volatile Thursday dogged by oversupply concerns, while a copper selloff sent base metals tumbling.
Hunting to be hit by slower capex recovery at clients, Canaccord says
A slow recovery in capital spending by the oil field services majors will have a greater than expected impact on Hunting´s ability to rely on them to drive a pick-up in its pricing, hitting its margins hard in the medium-term and wreaking havoc on its earnings per share, analysts at Canaccord Genuity said.
Commodities: Oil falters, gold drops on Yellen comments
Oil futures dropped following an uptick in US crude inventories on Wednesday, while gold slipped on comments by Federal Reserve Chairwoman Janet Yellen about an interest rate hike still being on cards for December.
Commodities: Oil futures rise on Brazilian strike action
Oil futures saw an uptick on Tuesday after an ongoing strike in Brazil, the world's ninth-largest crude producer, lent support to the price, while metals trading remained lacklustre in Europe for yet another session.
RBA keeps interest rates unchanged, Aussie strengthens
Australia's central bank kept a steady hand on the tiller when it met to decide on interest rates on Tuesday, arguing that the outlook for the economy had firmed a little.
Commodities: Oil, metal futures falter on weak Chinese data
Oil futures slipped back into the red on Monday, as European traders extended early losses in Asia on oversupply conditions coupled with weak Chinese data.
Mixed Chinese October manufacturing PMIs
At 49. 8 China's 'official' manufacturing sector purchasing managers' index for October came in just shy of the 50. 0 mark expected by the market, reflecting a third consecutive month of contraction in the sector.