Libya, Nigeria oil output causes worries, geopolitical risks still present

Growing oil output in Libya and Nigeria is causing worries on OPEC's ability to boost up crude prices.  Also, constant conflicts in the two nations might possibly keep a cap on their output. Libya's production came at levels higher than 800,000 bpd. It is the first time since 2014. Back then the civil war broke out. In the meantime, [...]

By | 2017-05-17T15:54:00+00:00 May 17th, 2017|Oil Market|0 Comments

Iran agrees on extending the cuts, if allies sign

17 May, Wednesday: You should know about Today's Market: Concerns over Trump dominate headlines Fed rate hike bets continue to recede Dollar continues decline, gold strengthens on stimulus delay concerns Global stocks shift to risk-off mode on Trump worries Oil slips on crude inventory build For further info on these subjects, visit: Iran's Oil According [...]

By | 2017-05-17T11:00:30+00:00 May 17th, 2017|Oil Market|0 Comments

Copper Price Peaks Higher in SHFE

Economic Calendar Today: United Kingdom Average Earnings Index + Bonus rose to actual 2.3%, while forecast was 2.2% UK Claimant Count Change. It came to 25.5K while the expected was -3.0K European Consumer Price Index (CPI) y-o-y rose to actual 1.9% while the expected was 1.8% United States Crude Oil inventories at -0.930M, while the [...]

By | 2017-05-17T05:46:34+00:00 May 17th, 2017|Financial, International|0 Comments

West Texas drillers could weaken any OPEC agreement on extending the cuts

All the Oil producing countries which have a deal with OPEC, along with Russia, can extend their deals. But at the same time this will be a green light for United States oil producers. If the price oscillates following levels between $50 and $60, these are the great news for the U.S. oil drillers. They [...]

By | 2017-05-16T17:28:17+00:00 May 16th, 2017|Financial, International, Oil Market|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

Oil price rises to $52; Russia & Saudi Arabia discussed the outputs in Beijing

Oil price today reached the level of $52 a barrel. Due to Russia and Saudi Arabia's agreement on cuts. They almost definitely consider that the Supply cuts have to extend into 2018, in order to achieve the rebalance of Oil market. And to keep the OPEC-lead deal, which is crucial for the benefits of all [...]

By | 2017-05-15T10:49:39+00:00 May 15th, 2017|International, Oil Market|0 Comments

SHFE morning trade: Copper up due to Lower production in Chile

Main Economic Events Today: China Industrial Production y-o-y fell to actual 6.5%, while expected was 7.1% United Kingdom Prime Minister Theresa May Speaks This Week: Empire State, Philly Fed Manufacturing for May April China Industrial Production Euro Zone Q1 GDP - Revised Reading K. April CPI, Employment & Retail Sales Japan Preliminary First Quarter GDP [...]

By | 2017-05-15T07:20:01+00:00 May 15th, 2017|Financial, International|0 Comments

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