Archive for the ‘EU’ Category

Strategie Grains Cuts EU Rapeseed Crop Estimate Once Again

Monday, August 1st, 2016

Consultancy Strategie Grains cut its estimate for the European Union’s rapeseed harvest for the third month in a row on Monday (August 1) due to lower than expected yields in major producing countries where harvesting is in full swing.

It said the EU should harvest 20.7 million tonnes of rapeseed this year, a forecast revised down by 570,000 tonnes from last month, and now nearly 6 per cent below 2015.

Strategie Grains mainly cut its estimates for France, Germany and Poland due to lower yields. The cuts were only partly compensated by smaller rises in Hungary, Bulgaria, the Czech Republic, Denmark and Lithuania.

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Oil Price is Stabilising Even as Iran Plans to Boost Crude Exports

Monday, July 11th, 2016

Oil markets will remain stable this year even as Iran plans to keep boosting crude exports to regain the market share it lost due to sanctions, according to a senior official at state-run National Iranian Oil Co.

Iran exports about 2 million barrels of its daily output of 3.8 million, said Mohsen Ghamsari, NIOC’s director of international affairs. The country has regained about 80 percent of the market share it held before the U.S. and European Union tightened sanctions on its oil industry in 2012, he said.

Sanctions were eased in January, and Iran plans to double crude exports.

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Chinese Commodities Rally on Hopes of Stimulus to Boost Economy

Monday, July 4th, 2016

Chinese commodities from nickel to cotton surged on Monday (July 4) on hopes Beijing will unleash more stimulus to prop up a sluggish economy, brightening the outlook for raw material demand.

An official survey on Friday (July 1) pointed to China’s weak manufacturing sector in June with export orders and inventories falling and factories shedding more workers.

“There are headwinds in the domestic market and exports and for the government to achieve its macroeconomic targets they need to focus on more stimulus in the second half of the year. That will be good for commodity demand,” said Helen Lau, an analyst at Argonaut Securities in Hong Kong.

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Oil Prices Rise As Brexit Shock Fades and Norway Strike Looms

Wednesday, June 29th, 2016

Oil rose on Wednesday (June 29) as financial traders poured money back into commodities following the initial shock of Britain’s vote to leave the European Union, and as a potential strike in Norway and crisis in Venezuela threatened to cut supply.

Brent crude futures were trading at $48.84 per barrel at 0422 GMT, up 26 cents from their last settlement. U.S. crude was up 35 cents at $48.20 a barrel.

Both oil benchmarks had climbed on Tuesday (June 28) after markets shook off some of the initial shock from the referendum in Britain in which most voters elected to exit the EU.

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Oil Prices Steady Following Brexit Vote but Worries Over Refined Products Glut Looms

Monday, June 27th, 2016


Oil prices steadied on Monday (June 27) as market participants better absorbed the shock of last week’s vote in Great Britain to leave the European Union and as analysts said Brexit would have a limited impact on global fuel demand.

Brent crude futures were up 17 cents at $48.58 a barrel by 0844 GMT and U.S. crude was up 2 cents at $47.66 a barrel.

Both crude benchmarks closed down around 5 percent on Friday (June 24) amid plunging global financial markets as results from a referendum defied bookmakers’ odds to show a 52 percent to 48 percent victory for the campaign to take Britain out of the EU.

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Oil Rallies as Fears Over Brexit Cool Down

Monday, June 20th, 2016

Oil rallied on Monday (June 20), lifted by a wave of investor confidence and a weaker dollar after polls showed a diminishing chance that Britain may vote to leave the European Union later this week.

August Brent crude futures were up 85 cents at $50.02 a barrel by 5.55am New York time, set for a gain of 6 per cent in two trading days. NYMEX crude for July delivery, which expires on Tuesday (June 21), was up 80 cents at $48.78 a barrel.

Campaigning for Britain’s vote on EU membership resumed on Sunday (June 19) after a three-day hiatus prompted by the brutal killing of Batley & Spen MP Jo Cox of  the ‘Remain’ camp.

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Gold Hits 4-week High as Cenbank Meets and Brexit Vote Shakes Stocks

Monday, June 13th, 2016

Gold hit its highest since mid-May today, Monday (June 13), driven higher by a retreat of the dollar and as stocks were knocked by rising risk aversion before key central bank meetings this week and a June 23 vote on whether Britain should leave the European Union.

The pound fell to a two-month low against the dollar, pushing gold denominated in sterling to its highest in nearly three years at 909.83 pounds an ounce, up 1.9 per cent.

Spot gold was up 0.8 per cent at $1,283.66 an ounce at 09.40 GMT, off an earlier peak of $1,284.50. U.S. gold futures for August delivery were up $11.10 an ounce at $1,287.00.

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Poor performances for Gold and Oil trading circles

Tuesday, December 1st, 2015

Gold: A Long Winter Ahead?

The bears have once again taken centre stage in terms of online gold trading. However, this is not all bad news for short-term commodity investors.

One of the main reasons for relatively positive news is that it is now widely believed that the Federal Reserve of the United States will raise its interest rates.
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Greece and EURO crisis – commodity trading news

Wednesday, July 1st, 2015

During the past week, headlines have centred on the crisis in Greece and its default on Eur 1.6 billion (£1.1 billion) of loan repayments to the IMF. Euro zone ministers refused to extend its bailout, having failed to agree on some of the terms and conditions. The group chairperson (Dutch Finance Minister, Jeroen Dijsselbloem) had previously said it would be “crazy” to extend the Greek bailout beyond its Tuesday deadline. Nonetheless, judging from reports after a conference telephone call with other Euro zone ministers, this position may have ameliorated as a fresh Greek application for an aid programme of some €29.1bn was to be considered today (Wednesday).
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Goldman Sachs think oil investors are up for a challenge

Friday, January 30th, 2015

Brent crude oil crisisCommodity trading online may take one of the largest hits in recent times according to Goldman Sachs and other reputable analysts.

Driven partially by the massive collapse in oil prices over the past month, analysts have cut their forecasts once again from neutral to underweight.

The sectors which are expected to be affected include energy, metals and livestock.

While some feel that a cut in OPEC oil production may serve to boost prices slightly, a slowdown in demand may hint at a more protracted downturn for the first half of 2015.
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