Market Pulse - Commodities
Commodities: Crude prices slip ahead of EIA inventories data
Crude futures are slipping this afternoon as the dollar weighs on prices, with traders having spent most of Wednesday looking ahead to the US Energy Information Administration's (EIA) inventories report this afternoon.
Colombian stocks set to top global return leagues in August
Colombia´s COLCAP stockmarket index was on track for the biggest gain´s from among all its peers worldwide in August, after a 9. 6% advance in US dollar terms, Bloomberg reported.
Brazil president Dilma Rousseff impeached
President of Brazil Dilma Rousseff has been impeached by lawmakers for concealing the economic realities in the South American country in order to win reelection in 2014.
Nigeria sinks into recession in Q2 on lower oil prices, Norway stalls
Oil exporters have been hit hard by the falling price of the commodity, with the Nigerian economy slipping into recession in the second quarter of 2016 as a result and Norway's growth brought to a standstill.
Crude oil futures slide after weekly US inventory data
Crude oil and product inventories Stateside were all higher during the latest reference week, according to the US government.
Petroneft comes up dry at Sibkrayevskoye, reports production decline
Petroneft saw production at one of its two licenses decline and reported that a major step out well had come up dry and would be plugged.
Independent Oil and Gas founder steps down
Michael Jordan, one of the founders of Independent Oil and Gas, announced he would step down from the Board with immediate effect.
Brazil GDP growth still in the dumps in the second quarter of 2016
Weak spending by households dragged Brazil´s deeper into the mire over the three months to June, but the details of the report offered some glimmers of hope, economists said.
Sector movers: Banks and insurers pace gains, Evraz and miners drag
Cyclicals drove gains on the FTSE indices as trading resumed after the Bank holiday, although it was food producers which did best, with an upgrade out of RBC giving shares in Associated British Foods a boost.
Cost-cutting boosts bottom-line at Sylvania Platinum
Platinum Group Metals (PGM) producer Sylvania Platinum posted improved profits on a before and after tax basis as cost-cutting took the sting out of a drop in the company´s rate of top-line growth.
FX round-up: US dollar catapulted north after Yellen's Wyoming words
The US dollar was catapulted north on most crosses after US Federal Reserve chair Janet Yellen said the case for an interest-rate hike had strengthened in recent months.
Commodities: Yellen's Jackson Hole soapbox herds crude, metals higher
Metals and crude futures surged higher as US Federal Reserve chair Janet Yellen said the case for a hike in US interest rates had strengthened in recent months.
Brent crude oil futures will hit $70 per barrel in June 2017, BofA says
Crude oil prices were set for a large move higher in 2017 as demand from emerging market economies makes up for a slowdown from OECD nations, analysts at Bank of America-Merrill Lynch said.
Commodities: WTI crude stages minor rebound as pundits eye support levels
West Texas Intermediate crude futures were on the up after Wednesday's tumble on shock US oil inventories data, but there remains downside risk if it breaches current support levels around $46 a barrel.
Glencore to keep cutting debt, eyes return to dividend payments
Glencore held out the prospect of a return to dividend payments in 2016 as management promised to focus on delivering even lower levels of net funding and debt by the end of the year than previously indicated and provided investors with an update on its asset disposal programme.
Oil prices tank as US weekly crude inventories rise unexpectedly
Oil prices tanked on Wednesday after official data showed an unexpected increase in US weekly crude inventories.
Commodities: Shock US oil inventories send crude spiralling lower
Crude-oil futures were firmly under the hammer late on Wednesday as successive US inventory data shocked the market, casting a depressing pall over UK and US equities markets.
Exillon Energy provides July production update
Exillon Energy achieved record production of 14,446 barrels a day in July with average output running at 13,883b/d, the company said in a statement.
Polymetal reiterates full-year 2016 production guidance
Efficiency gains and cost control allowed Polymetal to report a rise in half-year profits and nudge its interim dividend payout higher, with the company also reiterating its full-year guidance for production.
Commodities: Citi, Goldman sound cautious note on oil futures
Crude oil futures buoyed the commodities space as reports that Iran was warming to the idea of an oil output freeze by several of the world's major producers led to an intra-day reversal in prices.