Market Pulse - Commodities
IEA cuts 2016 oil demand forecast, Brent futures drop
The world's thirst for oil was set to increase less then previously expected, the rich-world's energy watchdog said, given a more pronounced slowdown in the third quarter of 2016.
Commodities: Platinum, silver futures jump on weaker US dollar
Precious metals stole the show as a much weaker-than-expected reading on the US services sector left traders in the US dollar licking their wounds.
Iran will be ready to negotiate on oil production towards year-end
Iran will be ready to negotiate its level of production as soon as production recovers to its pre-sanction volumes, Seyed Mohsen Ghamsari, director for international affairs at the National Iranian Oil Company, said, according to Reuters.
Enbridge to buy Spectra Energy in CAD37bn deal
Canadian pipeline company Enbridge Inc has agreed to buy Houston-based Spectra Energy in an all-stock deal valued at approximately CAD37bn.
Citi still sees value in Big Oil
Big Oil still offered value for investors, analysts at Citi said.
Sierra Rutile's proposed merger with Iluka hits snag in Germany
Shares in Mineral sands producer Sierra Rutile fell nearly 17% on Tuesday morning as it was announced that its proposed $375m merger with Australian zinc miner Iluka Resources is to be delayed by a German regulator calling for a longer review of the deal.
Anglo American´s diamonds fetch 19% more in seventh sales cycle
The value of Anglo American´s rough diamond sales jumped by 19% to reach $630m during De Beers´ seventh sales cycle of 2016.
Iran to continue increasing oil output capacity, crude futures slip
Iran stood ready to continue increasing its production, possibly taking it past its pre-sanction levels towards the beginning of 2017.
Careful with the ECB, BoJ, Morgan Stanley says
Strategists at Morgan Stanley saw several bends in the road ahead for financial markets, particularly regarding the outlook for ECB policy.
Commodities: Burst of volatility grips crude oil futures
Oil futures witnessed unusually high volatility after initial reports of a "significant" announcement between Russia and Saudi Arabia on the sidelines of the G-20 gatherings in Hangzhou, China turned out to be significantly overstated, judging by markets´ initial reaction.
Oil futures jump on Russian, Saudi deal to balance market
News that Russia and Saudi Arabia had agreed to work together to stabilise world oil prices sent crude futures sharply higher.
Woodside Petroleum buys half of BHP´s Australian offshore LNG assets
Woodside Petroleum picked up half of BHP Billiton´s stake in the Scarborough natural gas field offshore Western Australia.
Commodities: Russia ready to freeze oil output, Putin says, calling for talks
Explicit support from Russian president Vladimir Putin for a crude oil output freeze agreement by the world´s largest producers stoked gains in energy futures markets.
Putin calls for limit on oil production levels
Russian president Vladimir Putin has called on the world's oil-producing countries to introduce a cap on output levels of the commodity when the group meets later this month.
Commodities: Russia doesn´t see need for oil output cap
Comments from a top Russian oil official cut short a rally in crude oil futures, dragging a key gauge for the commodities sector lower.
Macquarie reports higher iron ore shipments from Western Australia
High levels of activity at ports in Western Australia might help to explain the recent rally in iron-ore prices, one of Asia Pacific´s largest brokers said.
Joy Global sees subdued mining investment in 2017
Joy Global shares drifted lower after it posted its fiscal third quarter results, falling short of analysts´ estimates on a combination of challenging conditions in emerging economies and marginal growth in developed ones.