Commodities & Futures News

Commodities & Futures News

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3 Apr

Oil posts biggest one-day gains after Trump touts Saudi-Russia oil deal

Oil Posts Biggest One-day Gains After Trump Touts Saudi-Russia Oil Deal

. The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County By Scott DiSavino NEW YORK Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was

2 Apr

Trump touts 'great' Saudi-Russia oil deal to halt price rout, but details unclear

Trump Touts 'great' Saudi-Russia Oil Deal To Halt Price Rout, But Details Unclear

2/2Reuters. Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russia's Energy Minister Novak are seen at the beginning of a meeting in Vienna 2/2 By Rania El Gamal, Vladimir Soldatkin and Jeff Mason DUBAI/MOSCOW/WASHINGTON U.S. President Donald Trump said on Thursday he had brokered a deal with top c

2 Apr

U.S. crude futures trim record gain

U.S. Crude Futures Trim Record Gain

. The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County By Sonali Paul MELBOURNE Benchmark U.S. crude fell more than 1% in early trade on Friday, coming off its biggest one-day gain in the previous session after U.S. President Donald Trump said he expected Saudi Arabia and Russia to announce a major oil

2 Apr

Trump touts 'great' Saudi-Russia oil deal to halt price rout, details unclear

Trump Touts 'great' Saudi-Russia Oil Deal To Halt Price Rout, Details Unclear

2/2Reuters. Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russia's Energy Minister Novak are seen at the beginning of a meeting in Vienna 2/2 By Rania El Gamal, Vladimir Soldatkin and Jeff Mason DUBAI/MOSCOW/WASHINGTON U.S President Donald Trump said on Thursday he had brokered a deal with top cr

2 Apr

Trump says oil-cut deal with Saudi, Russia to halt price rout

Trump Says Oil-cut Deal With Saudi, Russia To Halt Price Rout

2/2Reuters. Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russia's Energy Minister Novak are seen at the beginning of a meeting in Vienna 2/2 By Rania El Gamal, Vladimir Soldatkin and Jeff Mason DUBAI/MOSCOW/WASHINGTON U.S President Donald Trump said on Thursday he had brokered a deal with top cr

2 Apr

Russia Plans for Oil at $20 This Year, More Debt Sales

Russia Plans For Oil At $20 This Year, More Debt Sales

. Oil workers operate drill sections while working on the drilling floor beneath the travelling block, right, on a derrick operated by Salym Petroleum in Salym, Khanty-Mansi autonomous region, Russia, on Tuesday, July 2, 2013. Oil extended losses below $60 a barrel amid speculation that OPEC's biggest members will defend market share against U.S. shale producers. Photographer:

2 Apr

OPEC Middle East Oil Flows Surged After Production Deal Collapsed

OPEC Middle East Oil Flows Surged After Production Deal Collapsed

. OPEC Middle East Oil Flows Surged After Production Deal Collapsed --Crude supplies from OPEC’s Middle East oil exporters, excluding Iran, rose for a fourth month in March to the higest level since at least January 2017. The surge came before a production free-for-all triggered by ministers’ failure early last month to agree an extension of the OPEC+

2 Apr

Oil crash poses severe test for OPEC+ after Moscow, Riyadh miscalculate

Oil Crash Poses Severe Test For OPEC+ After Moscow, Riyadh Miscalculate

. A sticker reads crude oil on the side of a storage tank in the Permian Basin By Rania El Gamal and Dmitry Zhdannikov DUBAI/LONDON U.S. President Donald Trump says he has brokered a deal with Saudi Arabia and Russia that would see sweeping oil output cuts. Riyadh has called for emergency talks, and Moscow has said it no longer plans to hike p

2 Apr

Gold Back at $1,600 as U.S. Jobless Claims Hit New Record

Gold Back At $1,600 As U.S. Jobless Claims Hit New Record

. By Barani Krishnan Gold returned to the $1,600 level Thursday as investors turned to the safe haven after U.S. jobless claims hit record highs for a second-straight week amid the coronavirus epidemic and its debilitating impact on the world’s top economy.Gold futures on New York’s COMEX settled up $46.30, or 3%, at $1,637.70 per ounce after the Labor Depar

2 Apr

Oil soars after Trump says Saudis and Russians to cut output

Oil Soars After Trump Says Saudis And Russians To Cut Output

. The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County By Scott DiSavino NEW YORK Crude prices soared on Thursday after U.S. President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of

2 Apr

Oil in Sudden U-Turn After Trump Touts Production Cuts

Oil In Sudden U-Turn After Trump Touts Production Cuts

. By Barani Krishnan Can Donald Trump achieve what OPEC itself couldn’t. The U.S. president’s tweets on Thursday that he expected Saudi Arabia and Russia to resume production cuts sent a market battered on demand destruction and a supply gut soaring about 25% in early New York trade. But analysts remained skeptical that any cuts achieved will be enough."Just

2 Apr

Gold Joins 'Everything Rally' After Trump's Oil Tweets

Gold Joins 'Everything Rally' After Trump's Oil Tweets

. By Geoffrey Smith  --Gold returned to trading like a risk asset on Thursday, rising over 2% in line with U.S. stocks as President Donald Trump called an end to the global price war in crude oil markets – albeit without any immediate corroboration from Saudi Arabia and Russia.By 12:35 PM ET (1635 GMT), gold futures for delivery on the Comex exchange were up 2.4%

2 Apr

Oil soars by most on record after Trump says Saudis and Russians to cut output

Oil Soars By Most On Record After Trump Says Saudis And Russians To Cut Output

. The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County By Shu Zhang SINGAPORE Crude oil futures surged on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war and Russian President Vladimir Putin called for a solution to "ch

2 Apr

Oil Soars 25% as Trump Expects Saudi-Russia Cuts of 10M Barrels

Oil Soars 25% As Trump Expects Saudi-Russia Cuts Of 10M Barrels

. By Kim President Donald Trump sent crude oil prices flying higher on Thursday, saying he "expects" Saudi Arabia and Russia to cut crude oil production by about 10 million barrels a day.Trump tweeted that after speaking with Saudi Arabia Crown Prince Mohammed bin Salman, who spoke with Russian President Vladimir Putin, the two have agreed to cool off their price

2 Apr

Crude Oil Soars on Hopes of New Supply Deal

Crude Oil Soars On Hopes Of New Supply Deal

. By Peter Oil markets surged Thursday, amid hopes that the price war between Russia and Saudi Arabia, which has flooded the market with extra supply, may be coming to an end.AT 9:20 AM ET (1320 GMT), U.S. crude futures traded 8.9% higher at $22.12 a barrel, while the international benchmark Brent contract rose 8.5% to $26.84.Global oil prices have fallen by roug

2 Apr

Pigs fly in as China replenishes world's biggest hog herd

Pigs Fly In As China Replenishes World's Biggest Hog Herd

. Pigs are seen in a pig farm in Bouille-Menard, France By Dominique Patton BEIJING Six planes carrying more than 4,000 high-quality French breeding pigs have arrived in China so far this year, the first of an expected dozens of plane-loads as the world's top pork producer rebuilds its decimated hog herd. China is ramping up imports as it rush

2 Apr

China Starts Buying Oil for State Reserves After Price Crash

China Starts Buying Oil For State Reserves After Price Crash

. China Starts Buying Oil for State Reserves After Price Crash -- China is moving forward with plans to buy up oil for its emergency reserves after an epic price crash, according to people with knowledge of the matter.The world’s biggest importer is taking advantage of a 60% plunge this year to snatch up cheaper barrels for its stockpiles, a source of c

2 Apr

Trump says expects Russia-Saudi oil deal soon, invites US oil chiefs to White House

Trump Says Expects Russia-Saudi Oil Deal Soon, Invites US Oil Chiefs To White House

. U.S. President Trump holds meeting with pharmaceutical executives to discuss developing coronavirus vaccine at the White House in Washington By Jeff Mason and Timothy Gardner WASHINGTON U.S. President Donald Trump said he has invited U.S. oil executives to the White House to discuss ways to help the industry "ravaged" by slumping energy dem

2 Apr

Saudi wants cooperation to bolster oil, blames Russia for turmoil: Gulf source

Saudi Wants Cooperation To Bolster Oil, Blames Russia For Turmoil: Gulf Source

. By Rania El Gamal DUBAI Saudi Arabia supports cooperation between oil producers to stabilize the oil market but Russia's opposition to a proposal last month to deepen oil supply cuts has caused market turmoil, a senior Gulf source familiar with Saudi thinking told . International crude prices have fallen over 50 percent to under $26 a barrel si

2 Apr

Oil jumps as Trump talks up truce hopes for Saudi-Russia price war

Oil Jumps As Trump Talks Up Truce Hopes For Saudi-Russia Price War

. The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County By Shu Zhang SINGAPORE Crude oil futures surged on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war and Russian President Vladimir Putin called for a solution to "ch

2 Apr

Oil Prices Up Amid Hopes of a Saudi Arabia, Russia Deal

Oil Prices Up Amid Hopes Of A Saudi Arabia, Russia Deal

. By Gina  -– Oil prices rallied in Asia on Thursday morning, as hopes rise for a truce between Saudi Arabia and Russia in their ongoing price war.International Brent Oil Futures rose 0.7% to $25.79  by 9:43 PM ET (2:43 AM GMT) and U.S. Crude Oil WTI Futures jumped 3.64% to $21.05, reversing losses in the last session.U.S. President Trump said at a

2 Apr

Gold Prices Up Amid Fears of Unending Economic Turbulence

Gold Prices Up Amid Fears Of Unending Economic Turbulence

. By Gina Lee  -– Gold prices in Asia were up on Thursday as investors prepare for continuous economic turbulence. Gold futures were up by 0.41% at $1,598 by 10:21 PM ET (3:21 AM GMT), recouping its losses from yesterday’s session.Gold prices' gains today came as Asian equities traded mostly in the red. Australia’s ASX 200 slid 2.2% in morning

2 Apr

Oil surges as Trump talks up hopes for truce in Saudi-Russia price war

Oil Surges As Trump Talks Up Hopes For Truce In Saudi-Russia Price War

. The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County By Sonali Paul MELBOURNE Crude oil futures jumped nearly 5% in early trading on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal in the next few days to end their oil price war. Brent crude (LCOc1)