Commodities & Futures News

Commodities & Futures News

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21 Oct

Gold Prices Inch Down Despite Brexit Worries

Gold Prices Inch Down Despite Brexit Worries

. Gold prices inched down on Monday in Asia as traders awaited more clarity on the Brexit development. British lawmakers voted on the weekend to delay a decision on Prime Minister Boris Johnson’s Brexit deal, forcing him to request a third postponement of Britain’s departure from the EU.Despite the delay, markets remained confident that a no-deal exit from th

21 Oct

Mahathir warns of possible trade sanctions on Malaysia

Mahathir Warns Of Possible Trade Sanctions On Malaysia

KUALA LUMPUR Malaysian Prime Minister Mahathir Mohamad said on Monday his exports-reliant country could be hit with trade sanctions amid rising protectionism highlighted by the U.S.-China tariff war.Mahathir did not mention the source of possible sanctions on the Southeast Asian country but said he was disappointed that proponents of free trade we

21 Oct

Oil prices dip on weak demand outlook, supply concerns

Oil Prices Dip On Weak Demand Outlook, Supply Concerns

By Roslan KhasawnehSINGAPORE Oil prices eased on Monday amid persistent concerns about the global economic outlook and the impact on oil demand, while Russia again missed its target to cut oil output last month.Global benchmark Brent crude oil futures (LCOc1) fell by 10 cents, or 0.2%, to $59.32 a barrel by 0108 GMT.U.S. crude oil futures (CLc1) w

18 Oct

Gold Dips on Day, But up on Week Ahead of Brexit Vote

Gold Dips On Day, But Up On Week Ahead Of Brexit Vote

. Gold posted a weekly gain but safe-haven investors and those traditionally long the yellow metal largely sat out of Friday’s market, letting prices dip, with few leads to chase, ahead of a weekend parliament vote on the U.K. bid to leave the EU.After early gains in the day on the prospects that Britain’s Brexit hopes and U.S.-China trade deal aspirations wil

18 Oct

Oil Slides on Muddled Picture of Refinery Runs, Crude Builds

Oil Slides On Muddled Picture Of Refinery Runs, Crude Builds

. A whopping weekly U.S. crude build checked by an equally stunning collapse in refinery runs have left oil traders clueless, pressuring prices as the weekend nears.U.S. West Texas Intermediate crude was down 41 cents, or 0.8%, at $53.52 per barrel by 1:10 PM ET (17:10 GMT).U.K. Brent oil slid 72 cents, or 1.3%, at $59.19.For the week, both benchmarks were on cou

18 Oct

Venezuelan Guaido's team proposed 90-day truce to PDVSA bondholders: sources

Venezuelan Guaido's Team Proposed 90-day Truce To PDVSA Bondholders: Sources

By Marianna Parraga and Corina PonsVenezuela's opposition last week sent holders of state oil company PDVSA's 2020 bond a proposal to suspend legal actions for 90 days, the latest maneuver to avoid losing U.S. refiner Citgo, three sources familiar with the talks said.The investors have not yet responded. The bond is backed by a 50.1% stake in Citg

18 Oct

Trump hopes U.S.-China trade deal will be signed by middle of November

Trump Hopes U.S.-China Trade Deal Will Be Signed By Middle Of November

WASHINGTON President Donald Trump on Friday said he thinks a trade deal between the United States and China will be signed by the time the Asia-Pacific Economic Cooperation meetings take place in Chile on Nov. 16 and 17."I think it will get signed quite easily, hopefully by the summit in Chile, where president Xi and I will both be," Trump told re

18 Oct

Gold Prices Fall as Central Bankers Dampen Rate Cut Hopes

Gold Prices Fall As Central Bankers Dampen Rate Cut Hopes

. -- Gold prices fell on Friday as belief in yet more monetary policy easing around the world ebbed on the back of comments from various central bankers.By 11 AM ET (1500 GMT), gold futures for delivery on the Comex exchange were down 0.3% at $1,494.45 a troy ounce while spot gold was down 0.1% at $1,490.88.Silver futures were down 0.2% at $17.58 an ounce, while pl

18 Oct

Global economy slows, recession risk hangs in the balance: Kemp

Global Economy Slows, Recession Risk Hangs In The Balance: Kemp

By John KempLONDON Economic growth around the world has slowed to a crawl but (so far) there are few signs of the second-round effects on jobs, income and spending that would turn a significant slowdown into an outright recession.The International Monetary Fund has forecast global output will increase by just 3.0% this year, the slowest expansion

18 Oct

After trade talks in U.S., China ramps up Brazilian soy purchases

After Trade Talks In U.S., China Ramps Up Brazilian Soy Purchases

By Karl Plume and Hallie GuCHICAGO/BEIJING Chinese importers have been busy booking fresh purchases of soybeans from Brazil this week, despite the White House announcement that China had agreed to buy up to $50 billion of U.S. farm products annually during trade talks last week.Two traders said China has booked at least eight boatloads, or 480,000

18 Oct

Explainer: Bolivia's 'Evo' - socialist icon or would-be dictator?

Explainer: Bolivia's 'Evo' - Socialist Icon Or Would-be Dictator?

By Danny Ramos and Mitra TajLA PAZ Bolivia will go to the polls on Sunday in an era-defining vote either to cement Evo Morales in power for a controversial fourth term or to dislodge the iconic left-wing leader, who has ruled the land-locked South American country for nearly 14 years.Morales, who swept into power in 2006 pledging to bolster Bolivi

18 Oct

OPEC’s Next Meeting May Unveil New Approach to Cuts

OPEC’s Next Meeting May Unveil New Approach To Cuts

-- As the clamor grows for OPEC to slash even more oil production, and the cartel vows to consider any necessary action, its next meeting could result in an unusual step: a preemptive supply cut.The Organization of Petroleum Exporting Countries and its partners -- known as OPEC+ -- have reduced output this year to contain a glut created by falteri

18 Oct

Tankers defer retrofits to cash in on record freight rates

Tankers Defer Retrofits To Cash In On Record Freight Rates

By Roslan KhasawnehSINGAPORE Tankers that had been scheduled to install emissions-cutting equipment ahead of stricter pollution standards starting in 2020 have deferred their visits to the dry docks to capitalize on an unexpected surge in freight rates, three trade sources said.U.S. sanctions on subsidiaries of vast Chinese shipping fleet Cosco in

18 Oct

Energy Chief Perry Tells Trump He Plans to Leave Post This Year

Energy Chief Perry Tells Trump He Plans To Leave Post This Year

-- Energy Secretary Rick Perry notified President Donald Trump on Thursday that he’ll leave the post this year.Perry, one of the administration’s original cabinet secretaries, enjoyed good rapport with Trump. The former Texas governor has recently come under scrutiny in the House impeachment inquiry over his discussions with Ukraine.In a lette

18 Oct

Oil Prices Drop Amid Rising Crude Stockpile, Weak China GDP Growth

Oil Prices Drop Amid Rising Crude Stockpile, Weak China GDP Growth

. Oil prices dropped on Friday in Asia after Energy Information Administration (EIA) reported that U.S. oil inventories rose much more than the market was expecting, while weak China GDP growth also weighed. U.S. Crude Oil WTI Futures lost 0.2% to $53.81 by 12:42 AM ET (04:42 GMT). International Brent Oil Futures fell 0.6% to $59.57. Crude stockpiles jumped 9.3 m

18 Oct

Gold Prices Fall as Traders Weigh Brexit, China GDP and Sino-U.S. Trade Talks

Gold Prices Fall As Traders Weigh Brexit, China GDP And Sino-U.S. Trade Talks

. Gold prices fell on Friday in Asia as markets were busy digesting news on Brexit and the Sino-U.S. trade war. Weak China GDP data failed to push the prices of the safe-haven metal higher. U.S. Gold Futures for December delivery dropped 0.2% to $1,494.95 per ounce by 1:05 AM ET (05:05 GMT). Risk appetite improved yesterday after the U.K. and the EU announced t

18 Oct

Oil dips as China posts slowest GDP growth in almost three decades

Oil Dips As China Posts Slowest GDP Growth In Almost Three Decades

. Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang By Jane Chung SEOUL Oil prices were stable on Friday ahead of data that analysts say could show China, the world's largest oil importer, just recorded its weakest quarter of economic growth in nearly three decades, dragged down by a trade dispute with the United States. Global ben

18 Oct

Oil prices steady, all eyes on data seen showing China GDP growth slowdown

Oil Prices Steady, All Eyes On Data Seen Showing China GDP Growth Slowdown

By Jane ChungSEOUL Oil prices were stable on Friday ahead of data that analysts say could show China, the world's largest oil consumer, just recorded its weakest quarter of economic growth in nearly three decades, dragged down by a trade dispute with the United States.Global benchmark Brent crude oil futures (LCOc1) fell by 9 cents, 0.2%, to $59.8

17 Oct

Gold Edges up as Geopolitics Take Control of Trade

Gold Edges Up As Geopolitics Take Control Of Trade

– Investors managed to push gold higher Thursday instead of completely embracing risk, as doubts remained about whether the U.K. will get parliament ratification for its Brexit deal, but Turkey agreed to a ceasefire in Syria.U.S. gold futures for December delivery settled up $4.30, or 0.3%, at $1,498.30 per ounce. “Gold is not quite easing on the Brexit

17 Oct

Oil up as U.S. Fuels Drawdown Offsets Huge Crude Build

Oil Up As U.S. Fuels Drawdown Offsets Huge Crude Build

. – Oil prices rose on Thursday as traders looked beyond a whopping jump in weekly U.S. crude inventories to focus on plummeting fuel stockpiles as the maintenance season for refineries caused an unusual deficit in oil products.U.S. West Texas Intermediate crude settled up 57 cents, or 1%, at $53.93 per barrel. U.K. Brent oil closed up 49 cents, or 0.8%, at $59.9

17 Oct

Oil Slumps After Huge Jump in Crude Stockpiles

Oil Slumps After Huge Jump In Crude Stockpiles

. U.S. oil inventories soared for the latest week, the Energy Information Administration reported Thursday, rising much more than the market was expecting.Crude stockpiles jumped 9.3 million barrels last week, the EIA said. That compared to analysts’ expectations for a rise of about 2.9 million barrels, according to forecasts compiled by futures fell 0.8% to $

17 Oct

Pelosi: getting closer to U.S., Mexico, Canada trade deal every day

Pelosi: Getting Closer To U.S., Mexico, Canada Trade Deal Every Day

WASHINGTON U.S. House Speaker Nancy Pelosi said on Thursday lawmakers were getting closer to an agreement with the Trump administration on revisions to the deal negotiated by the Trump administration with Canada and Mexico."I can honestly say that I think every day we are becoming closer," Pelosi said at her weekly news conference. "The issue is d

17 Oct

Gold Prices Flat in Skittish Trade on Brexit Deal, Weak Data

Gold Prices Flat In Skittish Trade On Brexit Deal, Weak Data

. Gold prices were volatile but largely unchanged from Wednesday's levels on Thursday, as early weakness on signs of a Brexit deal gave way to fresh buying as signs of resistance from U.K. lawmakers emerged.Haven appetite was also supported by a barrage of weak U.S. economic data that gave fresh ammunition to those calling for further interest rate cuts from the Fed

17 Oct

NewsBreak: Crude Oil Inventories Rose by 9.3M Barrels - EIA

NewsBreak: Crude Oil Inventories Rose By 9.3M Barrels - EIA

. U.S. oil inventories soared for the latest week, the Energy Information Administration reported Thursday, rising much more than the market was expecting.Crude stockpiles jumped 9.3 million barrels last week, the EIA said. That compared to analysts’ expectations for a rise of about 2.9 million barrels, according to forecasts compiled by inventories fell by 2.

17 Oct

Oil Trades Near $53 as Industry Data Shows U.S. Stockpile Jump

Oil Trades Near $53 As Industry Data Shows U.S. Stockpile Jump

-- Oil traded near $53 a barrel after an industry report showed a sharp jump in U.S. inventories, adding to concern that supply keeps growing while demand ebbs.Futures were down 0.2% in New York, paring earlier losses of as much as 1.1% after the European Union and the U.K. reached an agreement on Brexit. The American Petroleum Institute reported