Market Pulse - Commodities
Anglo African Oil & Gas says rig for TLP 103 to be further delayed
Anglo African Oil & Gas said the rig needed to drill the new TLP 103 oil well in the Republic of Congo would not be available until mid-December at the earliest.
US CPI outstrips forecasts in August as petrol prices spike
US consumer prices rose more quickly than expected last month on a spike in gasoline prices.
Vedanta Resources determined to lift orders to save aluminium production in India
Vedanta Resources is working towards the lifting of the partial closure of its two power plants in Jharsuguda, India, as ordered by the country's State Pollution Control Board.
Australian adds 54,000 new jobs in August, mostly full-time positions
Job growth Down Under picked-up noticeably last month, led by full-time job creation and another rise in the number of job-seekers, another potentially positive sign for the economy.
Hurricane Energy agrees to terms on FPSO lease
UK based oil and gas firm Hurricane Energy said on Thursday that its Lancaster Early Production System (EPS) was on schedule for first oil during the first half of 2019 after making its final investment decision.
Chinese industrial production, investment fall short in August
Economic activity in China shifted down a gear unexpectedly in August, amid softer domestic and external demand and on a combination of ebbing infrastructure spending and tighter monetary conditions, according to some analysts.
WTI higher despite rising US stockpiles, amid Saudi talk of production freeze
US crude oil inventories jumped last week as refineries continued to operate at depressed rates following hurricanes Harvey and Irma.
Four major oil producers agree to keep output cut extensions on the table
Four of the world's top oil producers agreed to keep all options 'on the table' in order to ensure stability in the oil market, including the possibility of prolonging the output cuts that were already in force, beyond their expected end-date of March 2018.
BP to team up with Bridas and CNOOC in Argentina
BP and Bridas Corporation have agreed to form the largest privately-owned integrated energy company in Argentina which it was hoped would offer various value-enhancing opportunities, including via extending the operating life of mature assets and in helping to develop unconventional assets such as at Vaca Muerta.
Commodity price strength augurs well for stocks into year-end, JP Morgan says
The rebound in commodity prices will support company pricing and profits, while helping to put in place a base for inflation readings and leading to higher bond yields, providing a key catalyst for stocks to gain into year-end, although North Korea remained a 'wild card', analysts at JP Morgan told clients.
Chinese consumer, factory gate prices accelerate in August
Inflation in China rose past forecasts last month at both the retail level and factory gate level.
JP Morgan reiterates 'neutral' rating on Enquest, drops target price
James Thompson, a European oil and gas analyst at JP Morgan, said on Friday that while the extended commissioning of EnQuest's Kraken project and resulting underwhelming performance thereof, were "clearly central" to the debate, JP Morgan was somewhat reassured given that commissioning phase issues were historically easier to rectify than facility or reservoir related problems.
Empyrean Energy reports significant gas shows at Dempsey 1-15
Empyrean Energy has encountered significant gas shows at its Dempsey 1-15 well onshore California after breaking through a thick section of hard shales and siltstones in what may turn out to be part of the primary target zone.
Rockhopper progressing funding for Sea Lion
Oil and gas business Rockhopper Exploration said on Thursday that its primary focus for the remainder of the financial year was to further progress funding proposals aimed at sanctioning its Sea Lion field project in the Falklands by the end of 2018.
Oil companies evacuating staff as Irma targets Puerto Rico and Gulf Coast
The world's largest oil firms are continuing to evacuate non-essential personnel as Hurricane Irma barrels towards Puerto Rico and the Gulf Coast.
US open: Stocks slip as traders get first chance to react to events in Korea
Wall Street's main stockmarket averages were lower at the start of the shortened trading week as markets tried to guess the endgame of the tensions on the Korean peninsula, with some traders in the US getting their first chance to react to news of North Korea's hydrogen bomb test over the Memorial Day weekend.
China said to be considering oil sanctions on North Korea
China was said to be considering tougher sanctions against North Korea after its ally to the south claimed it had detonated a hydrogen bomb on Sunday.
PetroNeft records above average results at Russian well
PetroNeft Resources announced on Tuesday that log and core data collected from drilling at its S-375 project showed the delineation contained 4. 8m and 14. 8m respectively of net oil pay.