Commodities & Futures News

PARIS (Reuters) - The United States is still aiming to cut Iran's oil sales to zero and does not foresee the re-imposition of oil sanctions against Tehran on Nov. 4 as having a negative impact on the market as it is well-supplied and balanced, Washington's special envoy for Iran said on Monday.

Gold prices surged around 1% on Monday, to reach the highest level in three months as a combination of concerns over rising U.S. yields and the impact of trade conflict, along with geopolitical risks and a weaker dollar underpinned demand for the precious metal.

(Bloomberg) -- For 45 years, it’s been considered out of bounds for Saudi Arabia. But all of a sudden, Riyadh made what many read as a veiled threat to use the kingdom’s oil wealth as a political weapon -- something unheard of since the 1973 Arab embargo that triggered the first oil crisis.

By Christopher Johnson

By Terray Sylvester

BEIJING (Reuters) - Crude oil futures rose on Monday as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply, although concerns about the long-term outlook for demand dragged on prices.

Oil prices rose on Monday morning in Asia following tensions between the U.S. and Saudi Arabia on the sudden disappearance of a Washington Post columnist Jamal Khashoggi, with whom the Kingdom denied any involvement.

BEIJING (Reuters) - Crude oil futures rose sharply on Monday as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply, although concerns about the long-term outlook for demand dragged on prices.

This week precious metals traders will see whether gold’s surge higher can be sustained after a rout in global equity markets which coincided with weakness in the dollar bolstered safe haven demand for the yellow metal.

Market players are likely to stay focused on global crude supplies in the upcoming week, after a pair of closely watched forecasters said world oil stocks are adequate and the outlook for demand is weakening.

By Rod Nickel

By Rod Nickel

By Rod Nickel

Oil prices rebounded Friday from the previous day's rout, but still logged their biggest weekly loss since the second quarter after data showed U.S. drillers ramping up output, even as a second global energy agency said the market was adequately supplied.

By Humeyra Pamuk and Jarrett Renshaw

(Bloomberg) -- President Donald Trump’s trade war with China is set to prompt a shift in the U.S. farm industry as growers switch to other crops.

(Bloomberg) -- Gold Fields Ltd. shareholders getting impatient over the company’s failure to stem losses at the huge South Deep deposit in South Africa shouldn’t lose hope, said Chief Executive Officer Nick Holland.

WASHINGTON (Reuters) - U.S. President Donald Trump would go through with plans to meet with Chinese President Xi Jinping at the G20 summit next month if it looked like it would be a positive meeting, U.S. Treasury Secretary Steven Mnuchin said on Friday.

By Christopher Johnson

(Bloomberg) -- Oil is poised for the biggest weekly decline since May as the turmoil in U.S. equities spur investors to shun risk assets at a time when American crude inventories are rising.

By Aaron Sheldrick

Gold prices slipped on Friday but hovered near 10-week high after gaining 3% in the previous session, its biggest one-day gain in more than two years.

By Aaron Sheldrick

Oil prices gained on Friday as global equity markets extended their slide. Meanwhile, data from the Energy Information Administration (EIA) showed U.S. crude stockpiles jumped more than expected last week.

By Marianna Parraga and Alexandra Ulmer