Market Pulse - Commodities
US crude oil stockpiles register unexpected build in latest week
US oil stocks registered an unexpected build last week, pushing already weak oil futures lower.
Saudi Arabia to keep up pressure on high-cost producers, oil futures slump
Saudi Arabia would not let up the pressure on high-cost oil producers in a bid to maintain its share of the market, the country’s energy minister said on Wednesday.
Commodities: Oil futures up as WTI premium holds firm
The oil market registered further price increases on Thursday with WTI futures extending overnight gains well into the pre-Christmas trading session.
Commodities: Oil rebounds as WTI soars on US inventory data
Oil futures spiked on Wednesday after an unexpectedly large fall in US crude inventories sent both benchmarks higher, with the spread premium inverting in WTI’s favour.
Commodities: Oil rebounds as Brent-WTI spread narrows to naught
Oil futures reversed declines during early trading stateside on Tuesday, as the spread between both benchmarks - Brent and WTI - narrowed to zero, with the US marker recovering at a better rate than the global proxy standard.
Sector movers: Miners recover as oil slump hits London market
Resource stocks recovered on Monday following a further uptick in metal prices, but primary London market indices began the week lower in wake of the ongoing oil price decline.
Commodities: Brent oil futures contract plummets to 11-year low
Oil futures took a pounding on Monday in the face of a stronger dollar and entrenched oversupply sentiment.
Oil futures drop to pre-crisis lows
Brent crude futures plumbed their lowest level on Monday since July 2004, as speculation of a global oil glut continued to build.
Commodities: Oil, metal futures recover as dollar pressure eases
Oil and metal futures recovered on Friday, as the dollar weakened marginally with the weekend approaching.
Gold futures test six-year lows in wake of Fed rate hike
Gold futures plummeted overnight to a six-year low, following the US Federal Reserve’s decision to hike interest rates by 25 basis points at its latest monetary policy meeting.
Commodities: Oil, gold head lower after Fed decision
Oil and gold futures took a hammering on Thursday, following the US Federal Reserve’s decision to raise benchmark interest rates by 25 basis points.
UBS sees value in BG/Royal Dutch Shell, Tullow, Premier Oil
Going into 2016 - and despite oil prices being at around seven-year lows - UBS said it was the most optimistic in nearly two years and saw value in the shares of several companies in the space.
Commodities: Oil futures continue to struggle as Brent-WTI spread narrows
Oil futures continued to struggle on Wednesday as persistent oversupply meant bearish sentiment remained embedded in the market, while the Brent and WTI spread narrowed in intraday calls.
US oil inventories drop more than expected
Crude futures slumped further after data revealed an expectedly large build in US oil stocks in the latest week, compared to analysts´ forecast for a draw.
UK says Russian strikes against Syria rebels helping IS
Russian airstrikes in Syria are still targeting opponents of President Assad and helping the Islamist forces they claim to be trying to defeat, said UK Foreign Secretary Phillip Hammond.
Commodities: Oil futures extend recovery run, metals head lower
Oil futures registered further upticks on Tuesday, extending gains made late in the previous session, even though Brent continues to lurk near seven-year lows.
StanChart reportedly culls energy M&A team
Standard Chartered threw in the towel after eight years of trying to build a global team focused on mergers and acquisitions in the energy space, Reuters reported citing unnamed sources.
Brent futures may fall towards $30 a barrel, Citi says
Oil futures on both sides of the Atlantic might be headed lower soon, a top broker said on Tuesday.
Moody's slashes Brent assumption to $43 for 2016
Moody's has taken an axe to its oil price estimates due to the threat of prolonged oversupply, hacking its 2016 Brent assumption to $43 from $53, with West Texas Intermediate lowered to $40 from $48.
Commodities: Oil futures recover from record lows, metals head lower
Oil futures registered further declines as Brent continued to lurk near seven-year lows on Monday, before a late afternoon uptick in European trading raised the price level.