Today, it was a day of 5-month lows in Oil prices. This happened because of bothers on OPEC glut, and whether it would be extended. Nevertheless promises from Saudi Arabia about Russia's preparation to join OPEC's future cuts. Low Prices of Oil U.S. West Texas Intermediate crude oil futures were more than 3 percent [...]
The Reasons Two main shareholders are pressuring BHP Billiton about its oil and gas fields. $20 billion worth active to be sold, but the Company might overcome the selling because of the declining oil prices. According to the investors opinion, BHP Billiton is a serious producer of deepwater oil and gas. But its shale business [...]
SHFE Marginally higher trade among base metals traded on the SHFE. Due to weaker dollar during Asian morning trade on Friday May 5. But there remained near multi-week lows following an overnight collapse in the oil price. Nickel bucked the uptrend, as expectations of increased supply continued to push prices lower. “European markets are [...]
Reasons China's April iron ore down, due to vessel-tracking and port data suggesting a decline of several million tonnes from the near-record levels recorded in March. 83.27 million tonnes of the iron ore was dismissed at Chinese ports in April. Down 3.7 percent from March's 86.46 million. The vessel-tracking and port data often show numbers [...]
Important to know of Today's market: European CB President Mario Draghi Speaks Bank of Canada Governor Poloz Speaks UK Services Purchasing Managers Index rose to actual 55.0 (forecast was 53.3) For more info: https://www.investing.com/ LME Today: All base metal prices on the London Metal Exchange humbled today in morning trade, May 4. After a [...]
U.S. Representatives Spokesman of the U.S. aluminum industry are speaking to EU counterparts. They have written to British Prime Minister Theresa May. Asking urgent action against "massive illegal subsidies" in China that bluster Western jobs. Trade lawyers and some governments accuse China of unfairly subsidizing major industries in breach of the rules of the World [...]
Oil prices tumbled lower today, May 3. Right after the U.S. government data showed a smaller-than-expected decline in domestic crude inventories. There was also shown a weak demand for gasoline. And it is feeding bothers about a supply glut. Oil Numbers & Data Benchmark Brent crude LCOc1 was down 8 cents at $50.38 a [...]
Financial Markets on Wednesday: Fed expected to stand pat on rates Jobs data and service sector activity to serve as prelude to Fed Apple sales disappoint, shares off 1.5% Oil bounces back from 1-month low Global stocks show caution ahead of Fed decision LME on Wednesday: “Prices have dropped this morning but [...]
Important Facts about Today's Market: New Zealand Employment Change QoQ rose to actual 1.2% (forecast 0.8%) Germany Unemployment Change - 30K actual (forecast -10K) UK Construction Purchasing Managers Index (PMI) fell to actual 52.2(forecast 52.4) The US ADP Nonfarm Employment Change to actual 263K (forecast 187K) Also US ISM Non-Manufacturing PMI fell to 55.2 [...]
British Oil and Gas Company The British oil and gas company joined oil major rivals including Exxon Mobil, Chevron and Total. They joined in posting stronger than expected quarterly profits, mostly thanks to oil and gas prices. BP's profit nearly tripled in the first quarter of 2017 from a year earlier. Inspired by rising oil [...]
