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Commodities News

Oil prices extend losses in Asia after demand warning

Singapore - Oil prices tumbled more than one percent on Wednesday in Asia, extending the previous day's sharp falls after the International Energy Agency warned of weakening demand.

OPEC oil squeeze to remain, but will it lift prices?

Vienna - Oil producers within and outside OPEC are expected Thursday to extend a deal cutting output aimed at lifting the price of crude, but US rivals could spoil the party.

Crude prices jump after US strike on Syria

Singapore - Oil prices rallied on Friday after the United States launched a missile strike against Syria, sparking fears that an escalation of the conflict in the crude-rich Middle East could disrupt supplies.

Oil down as Trump leads in knife-edge US vote

Singapore - Oil prices were down in Asia on Wednesday as Republican candidate Donald Trump appeared poised to beat Democratic rival and market favourite Hillary Clinton in the race for the White House.

OPEC, non-oil cartel members discuss production cuts

Vienna - OPEC officials held talks with Russia and other non-cartel members Saturday in Vienna to debate how to implement a plan aimed at cutting oil output to reduce a global supply glut and bolster prices.

OPEC happy with oil market, kingpin Saudi says

Vienna - Saudi Arabia expressed confidence Thursday that oil prices will keep recovering, cementing expectations that a divided OPEC will decide to keep crude gushing at its meeting in Vienna."Everybody is very satisfied with the market.

Apple recycled $40 million worth of gold last year

Apple has announced it recycled over a ton of gold last year, or $40 million worth of the metal. Devices like smartphones contain relatively high amounts of gold as it is very electrically conductive and doesn't corrode easily, ideal for circuits.

Saudi won't cut oil output, foreign minister tells AFP

Riyadh - Saudi Arabia is "not prepared" to cut oil production, its foreign minister said on Thursday, after the top exporter agreed with Russia to freeze output if major rivals follow.

OPEC decides against cutting oil output

Vienna - The Organization of the Petroleum Exporting Countries has decided against cutting its oil output to lift prices, its president and Nigerian oil minister Emmanuel Ibe Kachikwu said following a meeting here Friday.

U.S. oil prices open $4.40 lower following OPEC meeting

New York - U.S. oil prices sank more than $4 in opening trade Friday, a day after OPEC decided to not cut production in response to lower prices.Near 1400 GMT, US benchmark West Texas Intermediate for delivery in January stood at $69.

Oil plunges to new multi-year lows on OPEC decision

New York - Global oil prices plunged Friday to new multi-year lows after the OPEC oil-producing cartel decided to maintain crude output in an oversupplied market.US benchmark West Texas Intermediate for delivery in January closed at $66.

OPEC move to keep oil output target sparks price slump

Vienna - OPEC's decision against cutting oil production, despite a global glut in supplies, triggered a five-dollar collapse in crude prices and prompted a fall in early trading on Asian markets Friday.

Russia cuts oil output as OPEC 'agrees' price too low

Vienna - Rosneft has trimmed its oil output partly in response to sliding crude prices, the Russian oil giant said Tuesday, as an under-pressure OPEC mulled taking similar action.

Great apes facing 'direct threat' from palm oil farming

Kuala Lumpur - The destruction of rainforests in Southeast Asia and increasingly in Africa to make way for palm oil cultivation is a "direct threat" to the survival of great apes such as the orangutan, environmentalists warned Thursday.

Crude oil prices extend losses

London - Oil prices extended losses Friday on poorly-received economic data out of China this week that has raised concerns over potential weaker crude demand from the world's biggest consumer of energy.

Oil market rises on resurgent Ukraine tensions

London - Global oil prices advanced on Tuesday on renewed Ukraine tensions after pro-Russian protesters seized government buildings in the eastern city of Donetsk.New York's West Texas Intermediate (WTI) for delivery in May won 77 cents to $101.21 per barrel.

Oil price 'fair' despite geopolitical factors: Kuwait

Al Kuwait - Kuwaiti Oil Minister Ali al-Omair said Monday that current oil prices are "fair" despite strong geopolitical factors impacting the region.OPEC member Kuwait is the world's fourth-largest oil exporter, pumping around 3.

Oil slides on prospect of rising Libyan crude supplies

London - Global oil prices sank Thursday on an expected return of Libyan supplies after a months-long disruption in exports, and following recent weak global economic data, analysts said.

Oil prices higher on U.S. optimism

London - Global oil prices rose on Friday as traders took their cue from upbeat U.S. economic indicators and concerns over supply disruptions in Nigeria. New York's main contract, West Texas Intermediate (WTI) for delivery in May, gained 51 cents to $101.

Oil prices steady before US data

London - Oil prices steadied on Wednesday, with supply disruptions in Libya and Nigeria offsetting expectations of a rise in US crude inventories, analysts said.

Oil market mixed amid weak Chinese data

London - Global oil prices diverged on Monday as dealers digested news that Chinese manufacturing activity shrank in March to an eight-month low.New York's main contract, West Texas Intermediate (WTI) for delivery in May delivery, firmed 18 cents to $99.64 a ba...

Oil prices climb on tensions over Ukraine

London - Oil rose Friday on simmering tensions in Ukraine, but gains were tempered by the stronger dollar after the Federal Reserve hinted at an interest rate rise early next year.New York's main contract, West Texas Intermediate (WTI) for delivery in April del...

JPMorgan named top commodities bank, day after selling physical business

JPMorgan <JPM.N> commodity chief Blythe Masters laid out an ambitious plan four years ago to become the top Wall Street bank in energy and metals trading.

Oil prices firm as traders eye Ukraine

London - Global oil prices edged higher Tuesday as investors kept a close eye on simmering international tensions over Crimea and awaited the outcome of a Federal Reserve monetary policy meeting.New York's main contract, West Texas Intermediate for delivery in ...

Crude prices drift lower after Crimea referendum

London - Oil slipped lower Monday as the United States hinted at fresh sanctions against Moscow after Crimea voted in a disputed referendum to leave Ukraine and join Russia.New York's main contract, West Texas Intermediate for delivery in April, fell 24 cents t...

Oil prices rises; energy watchdog lifts demand forecast

London - Oil prices rose on Friday as the International Energy Agency forecast demand would climb faster than expected as the world economic outlook improves.But the IEA, which advises countries on energy policy, also noted that the crisis in Ukraine could stil...

Copper hits near 4-year bottom over China slowdown fears

London - Copper prices hit Tuesday their lowest in nearly four years on the London Metals Exchange over fears of a slowdown in growth in China, the world's top consumer of industrial metals.The price of a tonne of copper hit $6,469.75 at 1700 GMT, its lowest le...

Oil prices steady before US data

London - Global oil prices were stable on Friday before the publication of key monthly US jobs data, while investors kept an eye on the crisis in Ukraine's Crimean peninsula, analysts said.New York's main contract, West Texas Intermediate (WTI) for delivery in ...

Oil prices trade mixed

London - Global oil prices diverged Thursday amid data showing weaker US energy demand as Russia comes under international pressure following its seizure of Ukraine's Crimea peninsula, analysts said.New York's main contract, West Texas Intermediate (WTI) for Ap...

Oil prices slide after spike higher

London - Oil prices slumped Tuesday on profit-taking after spiking the day before owing to concerns over European energy supplies that had been triggered by the crisis over Ukraine.Futures retreated as Russian President Vladimir Putin declared there was "no nee...
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