Market Pulse - Commodities
Commodities: US onshore oil rigs rise again, according to Baker Hughes
Trading in commodities was mixed, with even the different crude oil benchmarks on either side of the Atlantic diverging as figures published after the London close revealed another increase in the number of US onshore oil rigs in operation.
OPEC deal could boost oil prices but uncertainty remains: Goldman Sachs
Goldman Sachs has said that a deal agreed by the Organization of Petroleum Exporting Countries to cut oil production is likely to prop up prices for the short term at least, but has remained firm on its forecasts.
OPEC reaches deal to cut output, oil futures storm higher
In a surprise move, the Organisation for Petroleum Exporting Countries's members reached an agreement - for the first time in eight years - to cut output.
Reports suggesting OPEC agreement possible send Brent futures higher
Reports referencing Libyan officials said an agreement from OPEC producers on oil output might yet be reached on Wednesday, sending crude oil futures promptly higher.
US crude oil inventories slip in latest week
US crude oil inventories slipped during the latest reference week, amid a moderate decline for imports.
Commodities: Oil, precious metals drop
Saudi Arabia dashed hopes that producer countries would be able to reach an agreement to freeze output during their talks in Algiers.
Goldman Sachs cuts Q4 2016 oil price forecast, futures drop
Analysts at Goldman Sachs cut their forecast for the price of oil at the tail-end of 2016 following upside surprises on the production side and after greater clarity on the delivery of new projects revealed an unexpected glut was on the cards.
WTI oil futures jump after latest US DoE inventory data
US crude oil inventories registered a large fall in the latest week, alongside a large drop in some product stockpiles.
Credit Suisse downgrades Imperial Brands, cuts target price
Strained consumer finances and the prospect of stiffer competition in the value segment of the market meant that Imperial Brands's shares were trading at too narrow a discount versus those of British American Tobacco, Credit Suisse said.
WTI oil futures rise on API data showing drawdown
Data revealing another unexpected drawdown in US crude oil inventories stoked gains in crude oil futures.
ExxonMobil to be investigated by regulators over asset values
US oil corporation ExxonMobil is to have its assets examined by the Securities and Exchange Commission, after questions have emerged about how they are reported by the company.
Miners extend rally after bullish Rio Tinto comments on China, copper
Mining companies extended their recent gains and lifted the market after bullish comments from sector titan Rio Tinto's chief executive about commodity prices and Chinese demand.
Oil prices rise after unrest in Libya
Fighting around Libya's key crude oil ports at the weekend led to prices for the commodity creeping higher on Monday.
Credit Suisse starts Petrofac and Wood Group at outperform
Markets were already looking ahead to European oilfield services companies emerging fitter and leaner from the worst downturn in exploration and production in over a generation, analysts at Credit Suisse said.
Macquarie hikes target price on KAZ Minerals
Analysts at Macquarie hiked their target price on shares of KAZ Minerals ahead of what they described as a "key" debt refinancing which was expected before year-end 2016 which might act as a key catalyst for the stock.
Exxon faces investigation into accounts from New York Attorney General
US oil corporation Exxon Mobil Corp. is set to be investigated by New York Attorney General Eric Schneidermann over claims that the company has not written down the value of its assets.
Acacia Mining reiterates output guidance despite setback at Bulyanhulu
Acacia Mining reiterated its full-year production guidance for its Bulyanhulu mine and for the group as a whole, despite setbacks in resuming production at its processing plant at the former site following planned maintenance.
Fitch removes Evraz from Watch Negative
Evraz's progress in lowering its absolute levels of debt and the outlook for roughly stable steel prices led one of the world's three largest ratings agency to remove the company's debt ratings from its blacklist.
Parkmead increases stake in North Sea oil fields
AIM-listed oil and gas company Parkmead increased its stake in the Perth and Dolphin oil fields in the North Sea, which significantly increased the company’s oil reserves.
Rockhopper Exploration optimistic on potential of North Falkland basin
Rockhopper Exploration progressed on integrating its recent acquisitions, while completing a resource audit of its acreage in the North Falklands basin and increasing production from its Italian and Egyptian sites.