NY Mercantile - NY Mercantile Delayed Price. Currency in USD
-0.20 (-0.49%)
As of 9:47PM EDT. Market open.
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Pre. SettlementN/A
Settlement DateN/A
Last Price0.00
Day's Range40.21 - 41.48
  • Financial Times

    Gold slips as risk-on mood prevails in global markets

    Gold was trading close to its lowest level in three months on Tuesday as a “risk-on” mood prevailed in global markets. The precious metal has been one of the best performing commodities of 2019 but it dropped 3.7 per cent last week investors rediscovered their animal spirits amid easing geopolitical tensions and signs of stabilisation in the global economy. “Equities are gaining and safe haven assets are under pressure, as the market has moved into risk-on mode, with the twin headwinds of trade and Brexit risk perceived to have eased,” said analysts at Morgan Stanley.

  • Oil rises further above $62 as trade hopes support

    Oil rises further above $62 as trade hopes support

    Oil rose further above $62 a barrel on Tuesday, supported by hopes that U.S. President Donald Trump may signal progress on trade talks with China and lower inventories at a U.S. oil hub. Concern about slower economic growth and oil demand due to the fallout from the 16-month U.S.-China trade dispute sent prices lower on Monday. Trump gives a speech later on Tuesday and investors are keen for an update on the talks.

  • Reuters

    UPDATE 1-Murban crude listing will not impact OPEC cuts compliance -UAE energy min

    United Arab Emirates' Minister of Energy Suhail al-Mazrouei said on Tuesday that he sees no conflict between his country's compliance with OPEC output cuts and plans to list Murban crude oil by the Abu Dhabi National Oil Co (ADNOC). Intercontinental Exchange Inc will next year launch a new exchange in the UAE to list ADNOC's flagship Murban crude grade. Mazrouei said the UAE remains committed to cuts agreed by the Organization of the Petroleum Exporting Countries, plus allies led by Russia.

  • Reuters

    No forced hard coal power plant closures before 2026 - German draft law

    The German government will not force hard coal power plants to close over the next seven years, a draft law expected to be approved by the cabinet next week showed on Tuesday. The plan not to force hard coal plant closures before 2026 risks making Germany's coal exit more expensive as the government would have to give operators generous financial incentives to shut down facilities voluntarily. The new plan is a reversal for the government, which had stipulated in a previous blueprint that utilities would be forced to deactivate hard coal power plants by 2026 if not enough closures happen voluntarily.

  • Another Big Mining Company Hints at a Coal-Free Future

    Another Big Mining Company Hints at a Coal-Free Future

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Anglo American Plc dropped another hint that its days of mining the world’s most polluting fuel are limited.In a slew of presentations released for an investor visit to Anglo assets in Australia, thermal coal was noticeably absent from a list of units seen to have long-term potential. The company is on a trajectory away from thermal coal, and will do so responsibly, an Anglo spokesman said.Anglo will decide in the next year if thermal coal fits into its future portfolio, and may be better off selling the assets, RBC Capital Markets said in a note following the presentations.Anglo has spent decades positioning itself as an environmental and social champion, from treatment plans for employees with HIV or tuberculosis, to developing new ways to mine with less water.Yet on thermal coal it risks getting left behind, as investors quickly ratchet up pressure. Rival Rio Tinto Group sold its last coal mines in 2018, making it the first major mining company to go coal-free. BHP Group is looking at options to exit its remaining coal mines in Colombia and Australia. That would leave Anglo with Glencore Plc as the only two Western majors with thermal coal assets.The message from certain investors is clear. Norway’s $1 trillion wealth fund said earlier this year it would stop investing in companies that mine more than 20 million tons a year of thermal coal, a target Anglo would currently miss.Still, the miner has been cutting production in recent years, with output falling from as much as 80 million tons to less than 30 million tons. Today, Anglo lowered its 2021 thermal coal target to 26 million tons from a previous goal of as much as 30 million tons.The company has sold coal mines mines in South Africa, including to Seriti Resources Holdings Ltd., which is planning to build a massive black-owned mining company.“It may be that the assets would be better off in other hands,” RBC analyst Tyler Broda said in the note. “With rising ESG concerns, we would expect Anglo will divest this higher-quality and exports-focused business.”\--With assistance from David Stringer.To contact the reporter on this story: Thomas Biesheuvel in London at tbiesheuvel@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at, Liezel HillFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • More Dither than DATHER
    FX Empire

    More Dither than DATHER

    US equities recovered well after a feeble start. Markets are struggling as investors struck a cautious chord after a run of not so convincing headlines from the US administration suggested last weeks optimism on the US-China trade talks might have been premature. But with the US market closed for Veterans day, there hasn’t been a lot of traffic overnight either.

  • Oil prices gain as market awaits signals on U.S.-China trade talks

    Oil prices gain as market awaits signals on U.S.-China trade talks

    Oil prices rose on Tuesday, reversing early losses on hopes that U.S. President Donald Trump may signal progress on trade talks with China in a speech later in the day. Brent crude futures were up 31 cents, or 0.5%, at $62.49 a barrel by 0644 GMT, after dipping to as low as $61.90 earlier in the day. U.S. West Texas Intermediate (WTI) crude was up 23 cents, or 0.4%, at $57.09 a barrel, having fallen to $56.55.

  • Reuters

    VEGOILS-Palm extends rally on output drop, gain in rival oils

    Malaysian palm oil futures rose for a third consecutive session as the country's output in October unexpectedly dropped, while gain in rival oils aided sentiment. The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange was up 0.6% at 2,642 ringgit ($638.47) in early trade. The contract rose to a near two-year high in the previous session at 2,657 ringgit a tonne.

  • How Many Yanzhou Coal Mining Company Limited (HKG:1171) Shares Did Insiders Buy, In The Last Year?
    Simply Wall St.

    How Many Yanzhou Coal Mining Company Limited (HKG:1171) Shares Did Insiders Buy, In The Last Year?

    It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...


    Oil Prices Rebound; Uncertainty Surrounding Trade Progress Remains - Oil prices rebounded on Tuesday in Asia after falling in the previous session amid uncertainty over Sino-U.S. trade progress.


    The Birth Of An LNG Superpower

    Iran’s rapprochement with Qatar and still warm relations with Russia help it to execute a long-stalled plan to become a dominant LNG exporter

  • Bloomberg

    Bushfires Illuminate the Price of Burning Coal

    (Bloomberg Opinion) -- You could smell the approach of Sydney’s bushfires two weeks away.Leaving my home for work last month at a time when California’s fires were at their most intense, the sandalwood odor of burning eucalyptus was heavy on the air. Looking north from Bloomberg’s office to the far side of Sydney Harbour, the normally sparkling blue water was a barely discernible smudge. That was mostly not wildfire, but a dozen deliberate hazard-reduction burns under way across the metropolitan area in a last-ditch attempt to eliminate flammable plant litter and undergrowth before conditions worsened.Tuesday will prove a test of how effective that has been. Sydney’s entire metropolitan area and a swathe of country in the Hunter Valley to the north and Illawarra to the south will face catastrophic fire danger, the highest risk rating in New South Wales state, thanks to strong winds combined with temperatures up to 37 degrees centigrade. Already, three are dead and 150 homes have been destroyed by fires elsewhere in New South Wales and Queensland state to the north.Prime Minister Scott Morrison has been determined not to link the disasters to the country’s fractious climate and energy debate. Asked what his response would be to a couple who’d had to flee their homes and wanted to know what he was doing about climate change, he deflected.“I'll give the same answer I gave yesterday, and that is I'm focused on the needs of the people in this room today,” Morrison told reporters at a bushfire evacuation center. Gladys Berejiklian, the premier of New South Wales, had the same response: “We have time on our hands to talk about those other issues,” she said.This practiced reply — an Australian equivalent to the “thoughts and prayers” mouthed by American politicians after gun-violence episodes — may be hard to maintain given the area at greatest risk.The Hunter Valley is the world’s largest export basin for thermal coal used in power stations. The Illawarra escarpment contains Australia’s oldest mines for coking coal used in steelmaking. This region was built on coal, which overtook iron ore to become the country’s most valuable export last year. Electoral seats in the Hunter, one of the few parts of Australia where coal is a major employer, swung heavily toward Morrison’s government in the country’s May election.Australia’s climate debate is fraught, but it would be a whole lot more fraught if the country faced up to the scale of its responsibility. The country, with a population little larger than 25 million, likes to think of itself as a minor player on the global stage. “Australia is responsible for just 1.3% of global emissions,” Morrison told the United Nations General Assembly last month.That argument is only tenable if you exclude the country’s exports from the equation. Australia is the world’s largest fossil fuels exporter after Russia and Saudi Arabia. The coal and natural gas the government expects to be shipped in 2024 will produce about 1.2 billion tons of carbon dioxide when burned, a larger emissions total than any nation except China, the U.S., India, Russia and Japan.The exclusion of exports is, to be sure, standard in international carbon budgeting, which typically counts only emissions within a country’s borders toward its total. But even Australia’s ability for doublethink may be challenged by the sight of a government that’s aggressively trying to revive coal exports touring mining regions devastated by bushfires — events that will become more frequent and devastating as a result of climate change.Neither the government nor the Labor opposition would countenance interfering with the export trade. Indeed, all the movement is in the opposite direction. Just last month, the Berejiklian government introduced a bill to ensure that the agency granting planning approval to new mining and petroleum projects couldn’t consider overseas greenhouse impacts as part of its environmental assessments. Climate change impacts could make existing homes uninsurable and temperature increases above 2 degrees centigrade may push some areas “beyond affordability or indeed habitability,” Insurance Australia Group Ltd. warned this year. As many as one in 20 homes could be rendered uninsurable by 2100 from natural disaster risk, according to a report by Australian Broadcasting Corp. last month.Australians should understand what is happening. Government rhetoric isn’t just words, and its effects aren't just theoretical. A mass transfer of wealth is under way. For the sake of the small sum that comes into government coffers as mining royalties and taxes, politicians are doing everything to support activities that push more carbon into the atmosphere.The consequence will ultimately be borne by local households, who will see rising costs for insurance and fire-resistant renovation, falling property values as fire-prone lands extend their reach, and ultimately the threat of destruction and even death when the inferno comes.To contact the author of this story: David Fickling at dfickling@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at©2019 Bloomberg L.P.

  • The $22 Trillion Market Keeping Coal Afloat

    The $22 Trillion Market Keeping Coal Afloat

    Despite coal’s collapse in North American and European power generation sectors, the fuel continues to get traction in large parts of South-East Asia

  • Crude Oil Price Forecast – Crude Oil Markets Recover After Initially Falling
    FX Empire

    Crude Oil Price Forecast – Crude Oil Markets Recover After Initially Falling

    The crude oil markets pulled back a bit during the early hours on Monday, as we had seen a bit of a pullback due to fears about the US/China trade talks yet again.


    Oil Majors Team Up To Launch World’s Newest Crude Exchange

    Some of the world’s biggest energy traders are coming together to launch a new crude oil futures exchange in Abu Dhabi


    Iran Announces The Biggest Oil Discovery Of 2019

    Iranian President Rouhani announced a major oil discovery of more than 50 billion barrels, but didn’t mention any details on how fast the field will begin to be developed

  • Benzinga

    FreightWaves Oil Report: A Forecast For The Future Is Good News For Oil Consumers

    The annual report by OPEC that reviews and forecasts every corner of the world's oil producing and consuming sectors should be read with happiness by anybody who needs to buy fuel... including truckers. OPEC's World Oil Outlook is one of several 100-plus page reports that are published every year by a variety of leading energy concerns – the International Energy Agency, ExxonMobil and so on. The authors who put it together can review the upcoming major oil projects around the world that have been announced and they can do the same with refinery projects.

  • The Wall Street Journal

    Depressed Oil Prices Create Tough Environment for Aramco IPO---Energy Journal

    Low oil prices are taking a toll around the world. In the midst of all the fanfare around Saudi Aramco’s imminent stock market debut, it’s easy to overlook just how tough the environment is in the energy business right now. The world’s most profitable company took another major step this weekend toward what could be the world’s largest initial public offering.

  • Crude Oil Going Down Again
    FX Empire

    Crude Oil Going Down Again

    Early in another November week, the oil market is going down againб but it is evident that investors just can’t decide on a more promising direction on a global scale. Currently, Brent is trading at 61.81 USD.

  • US Homeland Security Taps Canadian Blockchain Firm to Track Oil Imports

    US Homeland Security Taps Canadian Blockchain Firm to Track Oil Imports

    DHS has hired Mavennet to track oil imports into the U.S. by retrofitting existing tracking technology with blockchain.

  • Oman says OPEC, allies likely to extend oil supply curbs

    Oman says OPEC, allies likely to extend oil supply curbs

    OPEC and allied oil producers will probably extend a deal to limit crude supply but are unlikely to deepen their cuts, Oman's energy minister said on Monday, as the United Arab Emirates said it was not worried about long-term growth in oil demand. "Extension probably, (deeper) cuts I think unlikely unless things happen in the next couple of weeks," the energy minister of non-OPEC Oman, Mohammed bin Hamad al-Rumhy, told reporters at an energy conference in the UAE capital Abu Dhabi.

  • Iran says new oil find adds only 22 bln barrels to reserves

    Iran says new oil find adds only 22 bln barrels to reserves

    Iran's oil minister said Monday that an oil field whose discovery President Hassan Rouhani announced at the weekend adds only 22.2 billion barrels to the country's estimated crude reserves. Out of the amount at the site, only a tenth -- 2.2 billion barrels --- can be extracted due to technological limitations, the minister, Bijan Namdar Zanganeh, told reporters in Tehran. Rouhani on Sunday announced the discovery of a field containing 53 billion barrels of oil in the southwestern province of Khuzestan, saying it was a "small gift by the government to the people of Iran".

  • Reuters

    UPDATE 1-Malaysia end-Oct palm oil stocks fall as output dips, exports jump

    * Malaysian Oct end-stocks fall after rebound in Sept * Oct exports showed marked rise from past month * Persistent dry weather to weigh on output (Writes through, adds details and trader comments) By Joseph Sipalan and Fathin Ungku KUALA LUMPUR, Nov 11 (Reuters) - Palm oil inventories in Malaysia, the world's second-largest producer of the edible oil, resumed their downward path in October as output fell and the pace of exports quickened, pushing palm prices to a 22-month high. October inventories dipped 4.1% to 2.3 million tonnes, their second lowest level this year after August's 2.25 million tonnes, according to data on Monday from the Malaysian Palm Oil Board (MPOB). The fall in stocks buoyed benchmark palm oil prices , which were up 33 ringgit, or 1.3%, at 2,606 ringgit ($629.77) per tonne at the end of Monday's morning session.