Market Pulse - Commodities
Applied Graphene losses widen as contract delays limit revenues
Industrial coatings producer Applied Graphene Materials assured investors it has been working to convert several of its 120 commercial engagements into supply agreements after the London-listed outfit turned in another heavy loss on Thursday.
Commodities: US oil stockpiles grow despite hit from hurricane Michael
The commodities complex came under pressure on Wednesday, weighed down by a larger-than-expected build in US crude oil inventories and a stronger Greenback.
US oil inventories rise above five-year average, DoE says
US crude oil stockpiles pushed above their five-year average last week helped by a jump in net imports.
Shell jettisons Danish oil fields in $1.9bn sale
Royal Dutch Shell has reached an agreement to dispose of its Danish oil fields through the sale of wholly-owned subsidiary Shell Olie-og Gasudvinding Danmark (SOGU) for $1. 9bn.
UK carbon footprint at its smallest since 1859 - Carbon Brief
The UK’s transition to clean energy and its attempts to meet the country’s 2050 climate commitments have seen its carbon footprint reduce steadily to reach its lowest level since 1859.
Director dealings: Evraz chairman lowers stake
Evraz chairman Alexander Abramov sold 1. 66m ordinary shares in the FTSE 100-listed outfit on Wednesday.
Berkeley Energia pumeled after reports Madrid against granting permit for Salamanca mine
Shares in Berkeley Energia are being pummeled following reports that the new government in Madrid may be opposed to its plans in the country.
Euro area trade surplus widens more than expected in August
The euro area's foreign trade surplus with the rest of the world widened last month on the back of a sharp rise in the bloc's exports.
Commodities: Natural gas jumps, Saudi unlikely to weaponise oil
Commodities were on a roll at the start of the week with natural gas pacing gains amid analyst chatter around expected continued strong demand for liquid natural gas in Asia over the coming winter, led by China, albeit followed by a drop.
Europe midday: Stocks track losses in Asia, politics in the spotlight
Stocks on the Continent have started the week slightly lower, tracking sharp losses in Asia overnight and with investors seemingly brushing-off a bounce on Wall Street last Friday.
Urals' working capital 'significantly constrained' following unauthorised loan
Russia-focussed exploration and production firm Urals Energy told investors on Monday that an unauthorised loan and asset sale had led to a combined working capital deficit of roughly $1. 6m.
Cora Gold determines exploration target of 30-50m tonnes
West African-focused exploration company Cora Gold told investors on Monday that it had determined an initial exploration target of 30-50m tonnes of gold at its Sanankoro project in southern Mali.
Commodities: Grains higher on poor weather, IEA warns on supply risks
Commodities were higher at the end of the week, boosted by gains in the agricultural space on the back of reports of poor weather in Canada and Russia.
Oil market is well supplied - OPEC
Producers from the Organisation of Petroleum and Exporting Countries are unlikely to increase output in the short-term, after the cartel’s secretary-general said the market was already well supplied.
'Extreme volatility' to hit oil market, says BP CEO
Oil prices face “extreme volatility” amid the continued uncertainty surrounding Iran’s oil industry ahead of fresh US sanctions, according to BP chief executive Bob Dudley.
Rising yields and dearer oil should not be feared, Barclays says
Do not despair, equity strategists at Barclays Research told clients.
Commodities: WTI lower on talk of waivers from Iran sanctions
Commodities were trading on a mixed note at the start of the week with energy in particular in the spotlight.
Commodities: Oil and metals futures knocked lower by rising US Treasury yields
Rising US Treasury yields hit oil and metals futures on Thursday, especially the former.
Washington plans show of military force to deter China
The US Navy’s Pacific fleet is planning a show of power in order to deter China from escalating its operations in areas such as the South China Sea.
Botswana Diamonds concludes deal with fellow miner Vast, shares jump
Shares in Botswana Diamonds shone on Thursday after the Aim-listed explorer finalised a development deal with fellow miner Vast Resources.