Market Pulse - Commodities
SDX Energy abandons latest well after non-commercial find
North Africa-focused oil and gas firm SDX Energy announced on Tuesday that it has encountered sands of low gas saturation that are not deemed to be commercial at its Kelvin-1X exploration well.
Sector movers: Deutsche Bank takes down energy
Energy shares have run too far too fast, analysts at Deutsche Bank told clients on Tuesday as they downgraded the space to 'underweight'.
Commodities: WTI futures jump on risk of new Iran sanctions, soybeans gain on China deal
Commodities clocked in with solid gains at the start of the week, despite strength in the US dollar, amid the risk of historic sanctions against Tehran.
Greatland Gold shares boosted by mineralisation identification at Black Hills
Precious and base metals exploration firm Greatland Gold on Monday announced that it has identified four distinct zones of gold mineralisation at its wholly owned Black Hills licence in Western Australia.
Russian 'dirty money' puts UK security at risk, report warns
A committee of MPs are calling for a clampdown of Russian money laundering through the City of London’s financial institutions, arguing that it could potentially put national security at risk.
ITM Power appoints finance director following 'invaluable' contribution
Energy storage and clean fuel company ITM Power announced on Monday that chief finance officer Andrew Allen will be elevated to the board as finance director with immediate effect.
Iran nuclear deal at risk as EU support 'not sufficient'
The EU must work harder to preserve its oil trade with Iran following the United States' withdrawal from 2015 international nuclear pact, Iran’s foreign minister told the EU’s energy chief on Sunday.
US and China agree framework to reduce trade tensions
The US administration set aside its threat of tariffs on Chinese goods for the moment, following two days of negotiations with Beijing, after China proposed a "significant increase" in its purchases of US-made goods.
Commodities: Dollar strength weighs on WTI and copper, but wheat jumps back
Losses in the energy space and among base metals was offset by strong gains in agricultural commodities at the end of the week.
Glencore shares drop on reports of looming SFO probe
Glencore’s shares were well into the red on Friday afternoon, as reports emerged that the Serious Fraud Office was making preparations to open a formal investigation into the company, over its work with the leader of the Democratic Republic of the Congo and Israeli billionaire Dan Gertler.
Sector movers: Stocks dance to US dollar's tune
Bond proxies such as Personal Goods (Unilever) or interest rate sensitive stocks (Construction, CRH) fared best at the end of the week, amid weakness in the pound and a sharp drop in longer-term Gilt yields.
Altona Energy lays out objectives for upcoming drilling programme
Mining and exploration company Altona Energy on Friday provided further details of its planned initial drilling programme at the Westfield tenement in South Australia.
Commodities: Brent tops $80 per barrel for the first time since 2014
Moves in the commodities space were muted on Thursday, despite the news headlines around oil after Brent crude futures topped the $80 per barrel mark for the first time since 2014.
Europe close: Italian coalition talks, global trade tensions in focus
The main share indices on the Continent finished with across-the-board gains as markets waited on the details of the government coalition deal between Italy's two main anti-establishment parties, the Five Star and the League.
Sector movers: Goldman boosts Cairn Energy, Tullow
News that Ocado had inked a partnership agreement with US chain Kroger light a fire under the market and the wider sector on Thursday, pushing Food & Drug Retailers to the top of the leaderboard.
Oil reaches $80 mark for the first time since 2014
A warning from the head of France's Total that it will stop development of a key Iranian gas field has pushed oil prices back above $80 a barrel for the first time since 2014.
Avesoro Resources 'pleased' with assay result from Liberia drilling programme
Gold production, development and exploration firm Avesoro Resources announced reported on Thursday on the final assay results from its 55 hole New Liberty infill drilling programme in Liberia.
Beowulf Mining to enhance operations with £1.5m from placing
Beowulf Mining announced on Wednesday that it will seek to raise £1. 5m for its graphite exploration efforts through the placement of 30m new shares at five pence per share.
US oil inventories slip as exports jump, DoE says
Inventories of crude oil and its derivative products in the States were lower across the board last week amid rising exports.
Eland Oil & Gas 'very encouraged' as well expected to top guidance
Natural resource production and development firm Eland Oil & Gas announced on Wednesday that its Opuama-9 well, at the OML 40 asset in Nigeria, is expected to perform at the high-end of prior guidance.