|Day's Range||99.08 - 100.82|
Aug 17 (Reuters) - China Coal Xinji Energy Co Ltd : * SAYS IT PLANS TO CLOSE YANGCUN COAL BY END OF 2018 TO HELP REDUCE OVERCAPACITY BY 5 MILLION TONNES Source text in Chinese: https://bit.ly/2vRoZMS Further ...
India's palm oil imports are likely to fall 15 percent in 2017/18 from the year before to their lowest in six years, hit by a hike in import taxes, a weaker rupee and tighter credit for would-be buyers, a senior industry official told Reuters. Reduced purchases by the world's top importer of the oil, where it is widely used to fry foods such as samosas or bhajis, could pile more pressure on benchmark international futures that are already trading near their lowest in three years. The price rise moderated demand for imports," said B.V. Mehta, executive director of the Solvent Extractors' Association of India (SEA).
Investing.com - Oil prices slipped on Friday despite tensions between U.S. and China seemingly eased after White House economic advisor Larry Kudlow confirmed that Chinese and U.S. officials will meet later in August to resume trade talks.
Sudan wants India's ONGC Videsh Ltd (OVL) to withdraw arbitration proceedings against the African nation as it is making efforts to mitigate default on payment of dues, OVL said in a statement on Friday. OVL, the foreign acquisition unit of Oil and Natural Gas Corp's (ONGC), filed an arbitration claim earlier this year against the government of Sudan in a London court seeking to recover dues pending for years from a project hit by the breakaway of South Sudan in 2011.
Oil prices fell on Friday, with U.S. crude heading for a seventh weekly decline amid increasing concerns about slowing global economic growth that could hit demand for petroleum products. Brent crude oil futures (LCOc1) were down 5 cents at $71.38 a barrel by 0050 GMT. U.S. West Texas Intermediate (WTI) crude futures (CLc1) dropped 4 cents to $65.42 a barrel.
U.S. shale is often overlooked or undervalued by analysts looking at the supply dynamics of today’s global oil market, yet it is arguably the most important factor in ensuring short-term stability for oil prices
Investing.com - WTI crude oil prices settled higher on Thursday, but concerns about waning demand kept a lid on gains.
At 4 p.m. EDT (2000 GMT), the Canadian dollar was trading 0.2 percent lower at C$1.3161 to the greenback, or 75.98 U.S. cents. "We are really just treading water ahead of tomorrow's inflation data," said Brad Schruder, director of corporate sales and structuring at BMO Capital Markets. "Experienced global investors have little interest in taking positions ahead of a major piece of data such as CPI." The inflation data could help guide expectations for further Bank of Canada interest rate increases this year.
As trade war tensions heat up between China and the United States, Beijing is looking to diversify its energy sources, growing closer to Iran and Russia in the process
Previously, we saw that BP’s (BP) major upstream projects are expected to boost its hydrocarbon production this year. Let’s now look at how BP’s upstream earnings could shape up in Q3 2018. BP’s upstream earnings rely on crude oil prices and hydrocarbon volumes.
Fourteen workers were injured in a storm that also halted operations at Daleel Petroleum's block 5 in the Sultanate of Oman on Wednesday night, the company said on its website. The company operates the Daleel oil field and three other reservoirs in Oman's Block 5, according to its website.
U.S. refiners are churning out oil products at breakneck speed, with Gulf Coast refineries processing crude at a record pace
Analysts in a Reuters poll had forecast a milder 0.9 percent increase. Statscan revised May's increase to a 1.5 percent gain from an initial rise of 1.4 percent. Sales rose in 15 out of 21 industries, while declines were seen in chemicals and food products.
* Palm rebounds to close higher * Continued Sino-U.S. trade tensions weigh on market -trader (Updates with closing prices) By Emily Chow KUALA LUMPUR, Aug 16 (Reuters) - Malaysian palm oil futures reversed ...
Yesterday, Brent oil joined the commodity rout and fell 3.5%. Going back to asking ourselves why base metals and commodities have been weak since the start of June, the answer lies in the potential for trade wars to ignite a slowdown in global economic growth (GDP) and subsequent pre-emptive collapse in raw material demand.
* Continued Sino-U.S. trade tension weighs on market - trader * Palm may fall to 2,165 ringgit/tonne - Technicals By Emily Chow KUALA LUMPUR, Aug 16 (Reuters) - Malaysian palm oil futures fell in first-half ...
With the greenback taking off during the day on Wednesday, crude oil got absolutely hammered. Beyond that, there are concerns about a trade war, so was a bit of a “one-two punch” for the petroleum markets. It now looks likely that we will continue to see selling on rallies.
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures fell on Wednesday to their lowest in nearly two weeks ...
Many oil markets watchers have predicted a rise in oil prices as a result of U.S. sanctions on Iran, but only few bulls have predicted prices as high as $150 per barrel
Investing.com - WTI crude oil prices settled at two-month lows Wednesday after data showed a an unexpected build in US crude supplies, while domestic production resumed expansion.
Based on Wednesday’s price action, the direction of the October West Texas Intermediate crude oil market on Thursday is likely to be determined by trader reaction to the longer-term uptrending Gann angle at $63.91. This angle stopped the selling at $63.93 yesterday.
Based on the mid-session trade, the direction of the September E-mini Dow Jones Industrial Average futures contract is likely to be determined by trader reaction to the longer-term uptrending Gann angle at 25034.
Libya’s oil output has once again exceeded 1 million bpd after port blockades and militant activity in its oil crescent crippled production
The natural gas rig count was at 186 last week—three more than the previous week. However, the natural gas rig count has fallen ~88.4% from its record level of 1,606 in 2008. US natural gas marketed production rose ~51.9% between January 2008 and May 2018 despite the natural gas rig count falling. As a result of the increased supply, natural gas active futures have fallen 62.3% since January 2008.