Commodities & Futures News

Commodities & Futures News

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27 Jan

Safe Havens Shine as Spreading Virus Spurs Rush to Buy Gold

Safe Havens Shine As Spreading Virus Spurs Rush To Buy Gold

. Safe Havens Shine as Spreading Virus Spurs Rush to Buy Gold -- Gold jumped as the spread of the coronavirus globally spurred demand for haven assets.Prices rose as much as 1.1% as risk-off sentiment swept markets, with equities tumbling and Treasures gaining. In the latest attempt at containment, China extended the week-long Lunar New Year holiday and b

27 Jan

Oil drops below $60 as China virus drives demand concern

Oil Drops Below $60 As China Virus Drives Demand Concern

. Pump jacks operate at sunset in Midland, Texas By Katya Golubkova and Ron Bousso LONDON Crude prices extended declines on Monday, dropping below $60 for the first time in nearly three months as the death toll from China's coronavirus rose and more businesses were forced to shut down, stoking expectations of slowing oil demand. Brent crude (LCOc1) fell

27 Jan

Oil Traders Made Billions in 2019 as Conflict Shook the Market

Oil Traders Made Billions In 2019 As Conflict Shook The Market

. Oil Traders Made Billions in 2019 as Conflict Shook the Market -- The world’s largest energy traders enjoyed one of their best ever years in 2019 as pipeline outages, dramatic changes in ship fuel regulations and Middle East conflicts shook up the global oil market.The bonanza extended beyond the independent traders like Vitol Group and Trafigura Grou

27 Jan

Oil slumps further as China virus spreads

Oil Slumps Further As China Virus Spreads

. Pump jacks operate at sunset in Midland, Texas By Aaron Sheldrick TOKYO Crude prices fell more than 2% to multi-month lows on Monday as the rising number of cases of the new coronavirus in China and city lockdowns there deepened concerns over oil demand. Brent crude (LCOc1) fell by $1.28 a barrel, or 2.1%, to $59.41 by 0744 GMT, having earlier dropped

27 Jan

Oil extends declines as fears grow over China virus

Oil Extends Declines As Fears Grow Over China Virus

. Pump jacks operate at sunset in Midland, Texas By Aaron Sheldrick TOKYO Crude prices fell more than 2% to multi-month lows on Monday as the rising number of cases of the new coronavirus in China and city lockdowns there deepened concerns over oil demand, even as Saudi Arabia's energy minister sought to calm the market. Brent crude (LCOc1) fell by $1.36

27 Jan

Oil prices skid 2%, extending slide as China virus spreads

Oil Prices Skid 2%, Extending Slide As China Virus Spreads

TOKYO Oil prices slumped a further 2% to multi-month lows on Monday as the rising number of cases of the new China virus and city lockdowns deepened concerns about demand for crude, even as Saudi Arabia's energy minister sought to calm the market.Brent crude (LCOc1) fell by $1.12 a barrel, or 1.9%, to $59.57 by 0113 GMT, having earlier dropped to

26 Jan

Several countries have breached arms embargo agreed at Libya summit: U.N.

Several Countries Have Breached Arms Embargo Agreed At Libya Summit: U.N.

. Libya summit in Berlin TRIPOLI Several countries backing rival factions in Libya have violated an arms embargo which they had agreed to uphold a week ago at a summit in Berlin, the United Nations said on Saturday. Last Sunday, foreign powers backing opposing camps fighting over Libya's capital Tripoli agreed at a summit hosted by Germany and

25 Jan

Trump increases tariffs on derivative steel, aluminum products from some countries

Trump Increases Tariffs On Derivative Steel, Aluminum Products From Some Countries

. U.S. President Trump addresses U.S. mayors at the White House in Washington WASHINGTON U.S. President Donald Trump on Friday signed a proclamation increasing tariffs on derivative steel products by an additional 25 percent and boosting tariffs on derivative aluminum products by an additional 10 percent. Trump said Argentina, Australia, Brazi

24 Jan

Brent’s Worst Week in 13 Months As Oil Crashes on Coronavirus

Brent’s Worst Week In 13 Months As Oil Crashes On Coronavirus

. By Barani Krishnan By Barani Oil prices tumbled a fifth straight day on Friday, pushing Brent to its worst week in 13 months, as contagion fears over the new coronavirus led to fresh risk aversion in global markets.New York-traded West Texas Intermediate, the benchmark for U.S. crude, settled down $1.15, or 2.1%, at $55.59 per barrel. Earlier in the session, WT

24 Jan

Oil Heads for Worst Week in a Year as Virus Selloff Deepens

Oil Heads For Worst Week In A Year As Virus Selloff Deepens

-- Oil headed for its worst weekly slump in more than a year amid fears that China’s coronavirus will cripple fuel demand just as markets struggle with a fragile world economy and adequate supplies.Futures sank as much as 2.9% in London to approach $60 a barrel for the first time since November as deaths from the coronavirus rose to 25 and China

24 Jan

Copper Sees Worst Losing Streak Since 2018 on Virus Fears

Copper Sees Worst Losing Streak Since 2018 On Virus Fears

-- Copper saw its worst streak of losses since mid-2018 as more patients were infected by the deadly coronavirus in the U.S., spurring a sell-off in riskier assets while boosting gold’s haven appeal.U.S. officials are monitoring more than 60 people as they attempt to catch new cases of coronavirus in travelers from China, the center of the outbr

24 Jan

Brent’s Worst Week Since Sept As Oil Crashes on Coronavirus

Brent’s Worst Week Since Sept As Oil Crashes On Coronavirus

. By Barani Krishnan By Barani Oil prices tumbled a fifth straight day on Friday, pushing Brent to its worst week in nearly four months, as contagion fears over the new coronavirus led to fresh risk aversion in global markets.New York-traded West Texas Intermediate, the benchmark for U.S. crude, settled down $1.15, or 2.1%, at $55.59 per barrel. Earlier in the se

24 Jan

Gold Creeps Toward $1,580 as Hedge to China’s Coronavirus

Gold Creeps Toward $1,580 As Hedge To China’s Coronavirus

. By Barani Krishnan – There’s nothing like a global contagion to get gold buyers to pile back into the safe haven. The yellow metal hit two-week highs on Friday, creeping toward the $1,580-per-ounce level targeted by gold bugs on worldwide fears over the economic fallout to the China-originated coronavirus.Gold futures for February delivery on New York’s COME

24 Jan

Oil Set for Worst Week in 13 Months Amid Coronavirus Fear

Oil Set For Worst Week In 13 Months Amid Coronavirus Fear

. By Barani Krishnan – Oil prices fell for a fifth-straight day on Friday, en route to finishing their worst week since December 2018, as contagion fears over the new coronavirus led to fresh risk aversion in global markets.New York-traded West Texas Intermediate, the benchmark for U.S. crude, was down $1.46, or 2.6%, at $54.13 per barrel. Earlier in the session,

24 Jan

Libyan central bank chief says oil blockade must be lifted

Libyan Central Bank Chief Says Oil Blockade Must Be Lifted

. Libyan central bank chief says oil blockade must be lifted By Ahmad GhaddarLONDON A blockade of major Libyan oil ports is damaging the economy and must be quickly resolved, the Tripoli-based central bank governor told on Friday, adding that Libya could run a budget deficit in 2020 as a result."Now oil represents 93-95% of total revenue and cover

24 Jan

Gold Prices Break Higher as Virus Weighs on China GDP Outlook

Gold Prices Break Higher As Virus Weighs On China GDP Outlook

. By Geoffrey Smith -- Gold broke out of its recent range on Friday and was course to end the week at its highest in two weeks, as the spread of the coronavirus threatened to have an ever greater impact on the Chinese economy – and in turn the world’s.By 11:15 AM ET (1615 GMT), gold futures for delivery on the Comex exchange were up 0.3% at $1,570.75 a troy oun

24 Jan

Crude Falls Again on Supply/Demand Imbalance

Crude Falls Again On Supply/Demand Imbalance

. By Peter Nurse Oil prices headed lower Friday, as the spread of the pneumonia-like virus in China looks set to have a significant impact on growth in the world’s largest importer of crude.By 9:40 AM ET (1440 GMT), U.S. crude futures were down 1.9% at $54.52 a barrel. Brent futures were down 1.7% at $60.97 a barrel.The SARS-like virus has claimed the lives of

24 Jan

Exclusive: India's rice exports fall sharply as sanctions delay payments from Iran

Exclusive: India's Rice Exports Fall Sharply As Sanctions Delay Payments From Iran

By Mayank Bhardwaj and Neha DasguptaNEW DELHI Reluctance among Indian traders to ship premium basmati rice to Iran as U.S. sanctions hobble its ability to pay has contributed to a sharp drop in overall exports from the world's biggest supplier of the grain, trade and government sources said.Rice shipments from India slipped by more than a quarter

24 Jan

French unions warn Macron pension strikes will drag on for months

French Unions Warn Macron Pension Strikes Will Drag On For Months

By Tangi SalaünPARIS France's hardleft trade unions on Friday threatened industrial action for months to come, as they searched for a way to force President Emmanuel Macron to ditch the biggest overhaul of the country's pension system since World War Two.The unions have been locked in battle with Macron over the fate of France's generous pension

24 Jan

Oil falls below $62, heads for weekly loss on China virus concerns

Oil Falls Below $62, Heads For Weekly Loss On China Virus Concerns

. Pump jacks operate at sunset in an oil field in Midland By Alex Lawler LONDON Oil slipped below $62 a barrel on Friday and was heading for a weekly decline as concern that a virus in China may spread, curbing travel and oil demand, overshadowed supply cuts. The virus has prompted the suspension of public transport in 10 Chinese cities. Health authoriti

24 Jan

Oil Set for Weekly Slump as Asia Virus Adds to Demand Concerns

Oil Set For Weekly Slump As Asia Virus Adds To Demand Concerns

-- Oil headed for a 5% loss this week amid fears that China’s coronavirus will erode fuel demand just as markets struggle with a fragile world economy and adequate supplies.Futures held above $55 a barrel in New York, buoyed by an unexpected drop in U.S. crude inventories and a political crisis in Libya that has halted the OPEC member’s oil ex

24 Jan

Global LNG Poised for Terrible Year as New Supply Floods Market

Global LNG Poised For Terrible Year As New Supply Floods Market

-- Liquefied natural gas prices are poised to test record lows this year thanks to an onslaught of new supply and warmer winter temperatures curbing consumption.The startup of new export projects from Australia to the U.S. has flooded the market, while brimming stockpiles in Europe and an expected slowdown in Chinese demand have dumped cold water

24 Jan

Oil rises, but potential impact of China virus on fuel demand haunts market

Oil Rises, But Potential Impact Of China Virus On Fuel Demand Haunts Market

. Pump jacks operate at sunset in an oil field in Midland By Roslan Khasawneh and Koustav Samanta SINGAPORE Oil prices climbed on Friday, following a drawdown in U.S. crude stocks, but were set to fall heavily for the week amid worries that a new coronavirus in China that has killed 25 so far may spread, curbing travel, fuel demand and economic prospects.

24 Jan

Gold Prices Fall as WHO Says New Virus is Not International Emergency

Gold Prices Fall As WHO Says New Virus Is Not International Emergency

. By Alex Ho Investing.omGold prices fell on Friday in Asia after the World Health Organization said the new coronavirus does not yet constitute a global emergency. Gold Futures dropped 0.3% to 1,560.45 by 1:15 AM ET (05:15 GMT). The WHO said the virus remained a local crisis for now. “Make no mistake, this is an emergency in China, but it has not yet become

24 Jan

Oil Prices Rise as WHO Calms Coronavirus Worries 

Oil Prices Rise As WHO Calms Coronavirus Worries 

. By Alex Ho Oil prices rose on Friday in Asia after hitting nine-week lows in the previous session amid fears over the new China coronavirus. U.S. Crude Oil WTI Futures gained 0.5% to $55.84 by 12:01 AM ET (04:01 GMT), while international Brent Oil Futures rose 0.4% to $62.28. The flu-like virus, which can be transmitted from person to person, has killed 25 pe