Market Pulse - Commodities
Saudi Arabia can sustain low prices for a long, long time, Saudi Aramco boss says
Crude oil futures weakened in afternoon trading following remarks from Saudi Aramco chairman Khalid al-Fatih that his country would maintain its investment plans.
Oil prices to challenge EMEA majors' ratings, Fitch says
Weak oil prices in 2016 will leave five of seven large European oil companies with financial leverage above the level Fitch Ratings normally considers appropriate for their current ratings, by a median of 0. 6x, according to the ratings agency’s latest financial forecasts.
HSBC marks down 2016-18 Brent oil price assumptions
Despite the evidence that crude oil prices were on the mend, and that they were below levels thought to be sustainable, analysts at HSBC lowered their price forecasts for 2016 to 2018 due to the multiple increased risks for the recovery.
Plexus plunges after major profit warning
Shares in Plexus Holdings sank like a stone after the oil drilling innovator warned profits would be "very significantly" below forecasts after a major slowdown in customers' planned activity, mainly in the North Sea.
Commodities: Oil futures head higher for second successive session
Oil futures headed higher for a second session in a row on Friday, with a torrid week ending on a positive note in Europe.
Citi still upbeat on European equities
A significant and synchronised global recession is not going to happen, so European equities are headed higher this year, Citi said.
Moody's slashes oil price estimates to $33/bbl as supply glut continues
Ratings agency Moody's has reduced its price estimates for Brent and WTI crude amid continued oversupply in the oil markets and what it deems as “the risk of additional supply from Iran. ”.
Recent oil price fall is irrational, says Saudi Aramco chairman
The price of oil will recover in 2016 and its recent drop is ‘irrational’ the head of the Saudi state oil company said at the World Economic Forum in Davos, possibly helping to prop up crude oil futures early on Friday.
Commodities: Oil futures bounce on US inventory data
Oil futures reversed declining fortunes on Thursday, posting an uptick in wake of US inventory data, while selected base metal contracts registered gains during European trading.
WTI oil futures rise after weekly US inventory data
US oil stockpiles continued rising last week despite a fall in imports.
Thursday newspaper share tips: Tough year ahead for JD Wetherspoon
JD Wetherspoon is facing a number of challenges, which has prompted The Telegraph’s Questor to rate the company at ‘sell’.
Nostrum outlines oil price hedging plan
Kazakhstan-based Nostrum Oil and Gas has outlined measures it intends to take to minimise its exposure to low oil prices.
BHP Billiton dividend cut looming large, UBS warns
BHP Billiton will cut its dividend after being mauled by a combination of one-off costs, impairment charges and commodity prices at multi-year lows, UBS predicted on Thursday.
Citi trims global growth outlook for 2016, more ECB stimulus seen
The world economy may be on the cusp of a 'tipping-point' as central bank stimulus will be less forthcoming and possibly less effective in those geographies were it is still applied.
Commodities: Oil, base metals hammered over volatile session
Oil futures hit fresh record lows on Wednesday, while base metals took a pummelling at the hands of short-sellers over another volatile trading session.
OPEC delegates reject Venezuela's call for emergency meeting
Another call from Venezuela on Wednesday for the Organisation for Petroleum Exporting Countries to hold an emergency meeting fell on deaf ears.
Bank of Canada keeps rates unchanged, sounds slightly cautious note on growth
The Bank of Canada kept its main policy lever, its deposit rate, at 0. 5%, against market expectations, although it did sound a slightly more cautious note on domestic growth prospects in the very short-term.
ISIS fighters left out of pocket by bombing, slide in oil
Daesh followers were left out of pocket towards the end of 2015 after the terrorist group cut their salaries by up to half, according to leaked documents.
E.on gas price cut puts pressure on British Gas, SSE and others
E. On has promised to cut residential gas prices by 5% next month, the first of the UK's Big Six energy suppliers to trim prices since Centrica's British Gas did so last August.
HK dollar under pressure amid China woes, capital flight, oil drop
The Footsie was on the brink of falling into 'bear market' territory come noon, weighed down by a constellation of worries, spanning from capital outflows from China and Hong Kong, another slide in crude oil quotes to speculation in some corners that Hong Kong was under pressure to free itself from its peg to the US dollar.