Market Pulse - Commodities
Emerging markets see first capital outflows since 1988 in 2015, IIF says
Net capital outflows to emerging markets went into reverse in 2015 because of China.
Commodities: Brent claws back premium to WTI, IEA flags glut concerns
Oil futures remained at historic lows on Tuesday, with US benchmark WTI losing its premium to Brent, as an International Energy Agency report noted that prospects for the market balancing out in 2016 appear to be grim.
Upstream oil and gas M&A activity lacklustre in 2015, report says
Upstream oil and gas mergers and acquisitions levels were decidedly lacklustre over 2015, according to a report by 1Derrick.
Global expectations slump but investors still bullish on Europe, says BofA ML
Global growth, profit and liquidity expectations are at their worst level since summer 2012, according to the Bank of America-Merrill Lynch Fund Manager Survey for January.
Suncor clinches deal for rival Canadian Oil Sands
Suncor clinched a deal on Monday to buy Canadian Oil Sands, after upping its bid for a rival, in what some believed was the opening shot in the race to consolidate in that country’s unconventional oil sector.
Commodities: WTI retains premium versus Brent
Oil futures stayed below $30 per barrel on Monday, with the US benchmark WTI retaining its premium to Brent over another volatile session.
OPEC sees higher demand for its oil in 2016
The Organization of the Petroleum Exporting Countries will need to ramp up their production by considerably more than was expected next year in order to balance demand and supply, the group said on Monday.
China raises offshore yuan reserve requirements, yuan strengthens
Chinese authorities moved to tighten liquidity in the offshore yuan market on Monday, in what observers said amounted to a short-term move towards increased capital controls to deter speculation against its currency.
Gold production has already peaked, analysts and miners say
The world's production of gold was set to break a seven-year string of increases in 2016, due to a lack of new assets and falling grade ores, the Financial Times said citing analysts and industry executives.
Oil futures slide after IAEA gives greenlight for Iran sanctions to be lifted
Oil futures moved sharply lower again at the start of the week after the world’s nuclear watchdog gave the ‘green-light’ for some of the economic sanctions on Iran to be lifted.
Commodities: Oil futures slide below $30, gold sees modest uptick
Oil futures tumbled below $30 per barrel for the first time since 2003, while precious metals registered modest rises during late afternoon trading in Europe.
Global airline profits will rise on lower fuel prices in 2016, Moody's says
Global airline industry profits will remain strong amid lower fuel prices in 2016, supporting a positive outlook on the industry for the next 12 to 18 months, according to Moody’s.
Goldman keeps baseline case for WTI at $40 a barrel
As oil prices slid below the $30 mark, Goldman Sachs said it still sees “the birth of a new bull market” in commodities.
Oil at fresh 12-year lows on China, Iran fears
Oil futures cratered again on Friday despite predictions earlier in the week that crude prices would recover sharply in the back half of 2016, amid worries about China and the return of Iranian oil exports.
China credit growth hits 12-month high in December
Chinese banks are continuing to lend to the economy and that should provide support to the economy in coming quarters, some economists said following the release overnight of the latest government data on credit growth.
Drop in inflation expectations is becoming worrisome, Fed's Bullard says
The recent drop in oil prices is a net ‘positive’ for the US economy, as accelerating consumption up until mid-2015 showed, but the decline in market-based inflation expectations that has accompanied it “is becoming worrisome”, a top-ranking US central bank official said on Thursday.
Iran sanctions may be lifted as soon as Monday
International sanctions imposed on Iran by the UK, US, and European as a result of its nuclear programme may be lifted by next Monday, Bloomberg reported, citing the country’s deputy foreign minister, Abbas Araghchi.
Commodities: Oil futures see modest upticks, precious metals struggle
Oil futures posted modest upticks on Thursday, but precious metals continued to falter.
Commodities: Oil market endures another volatile session
Oil markets witnessed another volatile session on Wednesday, with Brent and WTI futures alternating between positive and negative forays, while staying at 12-year lows as oversupply concerns and lacklustre demand continue to dominate market chatter.
Oil market will not begin to rebalance until late 2017, EIA says
The oil market will not begin to re-balance until late 2017, the US government said on Wednesday.