Market Pulse - Commodities
Barclays upbeat on outlook for BP and Royal Dutch Shell
Analysts at Barclays sounded an upbeat note on Big oil, telling clients that companies in the space remained free cash-flow positive in the first quarter of 2019, with management teams' commitment to both discipline on capital expenditures and shareholder returns seen driving a "re-rating" in share prices over the next 12 months.
Griffin Mining nearly doubles resource estimate for Zone III at Caijiaying mine
Shares of Griffin Mining shot higher after outfit reported a near doubling in the estimated mineral resource at the Zone III part of its Caijiaying zinc mine in the People's Republic of China.
Weekly US crude oil inventories jump by 7.2m b/d, DoE says
US crude oil inventories jumped sharply last week, amid a rise in net imports, but some analysts believed the build-up would be short lived.
China and US nearing trade agreement - report
Negotiations for a trade deal between the US and China are drawing close to a resolution as most outstanding issues have now been agreed upon, according to a report on Wednesday.
Jersey Oil &Gas 'surprised' by failure to find Jurassic sands at Verbier, shares sink
Jersey Oil&Gas shares' crashed after notifying that an appraisal well had failed to find Upper Jurassic sands, leading it to lower its estimate for the prospectivity of the discovery, although it was still deemed "commercially viable".
Shell to leave oil lobby group over environmental disagreements
Royal Dutch Shell will leave an oil lobby group as its position on climate change is causing severe disagreements within the body.
BHP reviews production guidance after cyclone damage
BHP is reviewing production and unit cost guidance after a cyclone caused flooding at its iron ore operations in Western Australia.
Commodities:Copper traders wary despite latest China factory PMI, Brent gains on supply data
Commodity prices found a bid at the start of the week after a key survey of Chinese factory conditions printed ahead of forecasts.
Borders & Southern Petroleum's efforts to secure funding fall short
Borders & Southern Petroleum on Monday reported an increased loss as the oil and gas exploration company failed in its attempts to find partners for the next phase of its operations in the Falkland Islands.
Shares rally as oil producer Block Energy hits gold
Shares in Aim’s Block Energy have surged 60% after the oil explorer announced testing at a well in the Republic of Georgia had exceeded expectations.
Cabot Energy revenues soar on significantly increased output
Oil and gas outfit Cabot Energy expects annual revenues to more double following a sharp increase in output.
China Caixin factory PMI surprises to the upside in March, economists cautious
Chinese manufacturing activity bounced back last month, according to one of the most closely-followed surveys of activity in the sector, but economists appeared to be wary of sounding the 'all clear'.