Western Australia state asks Iron ore Miners to pay cash in advance

  Important to know on May 29th: Global stocks drift in thin trade; U.S., U.K., China closed Dollar steady in quiet trade; British pound jumps Oil dips as traders weigh U.S. drilling, OPEC cuts Mario Draghi takes center stage North Korea fires another ballistic missile   Iron Ore Market Western Australian state officials are going [...]

By | 2017-05-29T11:27:46+00:00 May 29th, 2017|Financial, Governments|0 Comments

Will OPEC make it to co-exist with U.S. shale oil ?

At the beginning , they ignored each other. After a while, they went into a bruising fight. Now, finally, they are talking, although with opposing agendas. The evolution of the relationship between OPEC and the United States oil industry now lasts for about 5 years. 5 years ago, OPEC discovered it has a rival emerging [...]

By | 2017-05-28T11:04:21+00:00 May 28th, 2017|Financial, Governments, International, Oil Market|28 Comments

Short Overview of main Weekly deals & economic events

United States Nasdaq and S&P 500 overcame the last week's losses.¬†They were at the record levels on Friday's closing, observing the period of two weeks. Strongly supported by the surge in tech stocks, as well as the political unrest which is taking place in U.S. these days.   OPEC & Oil OPEC and non-OPEC countries [...]

By | 2017-05-28T06:41:49+00:00 May 28th, 2017|Financial, Governments, International, Oil Market|0 Comments

Saturday: Donald Trump’s Visit to Saudi Arabia; Ryadh CEO forum

Firstly, Donald Trump is visiting Saudi Arabia this Saturday. The Saudi Aramco is going to conclude deals with 12 United State's companies during this visit. Secondly, Saudi Aramco plans to push and develop the local workers and manufacturing in all the possible ways. According to sources, this is part of Saudi Aramco's plan to develop [...]

By | 2017-05-18T17:52:53+00:00 May 18th, 2017|Financial, Governments, International|0 Comments

Metals trade today: LME & International Economic Events

LME Today: Metals prices on the LME slightly declined during morning trade today. Prices were down for an average of 0.6%. Recollecting the positive Monday, that had closing prices up for about 0.3%. Nickel had a fall of 1.7%, but the average gain would have been 0.6% led by a 1.2% rise in aluminium price. [...]

By | 2017-05-16T11:39:12+00:00 May 16th, 2017|Financial, Governments, International|1 Comment

Elliott pressures BHP to get rid of its petroleum business

Petroleum business Today, Elliott Management increased the pressure for strategic changes at BHP. It is asking for a detached review of the mining giant's petroleum business. Elliott, as important investor, has built up a 4.1 percent stake in BHP's UK-listed arm. It is now urging changes, cause it needs to boost up shareholder value. They [...]

By | 2017-05-16T06:55:17+00:00 May 16th, 2017|Financial, Governments, International|0 Comments

ArcelorMittal or IIG? Bosnian iron ore mine for sale

Bosnian Iron ore mine for sale The largest steel producer in the world, ArcelorMittal has said to Bosnia's officials it will take legal action, to protect its ownership rights. If they decide to sell government-owned stake in the Ljubija iron ore to the opposite buyer. ArcelorMittal owns a steel plant in Zenica. Which is located [...]

By | 2017-05-15T16:57:33+00:00 May 15th, 2017|Governments, International|1 Comment

The upcoming week: Crude Oil Futures

Short Recollection of last week   Beginning by observing the Oil futures; they settled on nearly plane levels on Friday. But still registered the first weekly gain in a month. Inspired by the news that key crude producers will extend output cuts to the period after June; Firstly, on Thursday, U.S. West Texas Intermediate crude [...]

By | 2017-05-14T18:01:07+00:00 May 14th, 2017|Financial, Governments, International, Oil Market|0 Comments

Russian exports; Gas and Oil production

Russia expects balance in Oil market; in case production cut prolongs   Alexander Novak said Global Oil markets will come to a balance soon. If the production cuts extend till the early 2018; or late 2017. Entering the winter of 2018, a supply-demand will find its equilibrium. "Judging from the current dynamics in the decline [...]

By | 2017-05-14T11:29:28+00:00 May 14th, 2017|Financial, Governments, International, Oil Market|0 Comments

Oil Production; Summary of Main Oil News this week

Russian energy ministry and output cut talks The main official of Rosneft, Igor Sechin, said on Saturday that the Russian energy ministry had his backup in discussions over oil production cuts. "The most important thing is to have a mechanism to defend our interests.'' In previous months, Sechin has expressed some suspicions about the ability [...]

By | 2017-05-14T06:54:44+00:00 May 14th, 2017|Financial, Governments, International, Oil Market|0 Comments