Posts Tagged ‘Copper’

Gold Falls and Oil Firms as Markets Shrug Off Turkey Coup

Monday, July 18th, 2016

Gold slid one per cent on Monday (July 18) as investor jitters calmed following the failed coup attempt in Turkey, while oil prices edged higher with the turmoil unlikely to hit energy supplies.

Copper fell for a second session on pressure from a stronger dollar while corn prices jumped, underpinned by forecasts of hot-dry weather potentially reducing U.S. crop yields.

Turkey widened a crackdown on suspected supporters of a failed military coup, taking the number of people rounded up in the armed forces and judiciary to 6,000, and the government said it was in control of the country and economy.

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Oil down, whilst gold price increases

Thursday, May 3rd, 2012

Oil prices have, for some time, slowly declined from previous peaklevels, metals however, is rising continously. This is simply the summary of
the commodity market today, and there is no indication that any major change will happen in the near future.

Increased oil production – Oil price still high

Oil prices are slowly falling and turning downwards. This includes both WTI- and Brent oil. On behalf of the Brent oil, the turnaround in April 2012 was the first since December.

This all depends on a variety of causes, one of them being the increased production. Within OPEC, there has been an increase by 305 000 barrels per day in April. This is an increase by 1 percent compared with March, and represents a total production of 31.4 million barrels per day.

Nigeria is also investing in increased production of crude oil in the long run. By 2020, the capacity will increase to as much as 4 million barrels per day. This should be compared with the country’s current production of approximately 2.1 million barrels per day. The country is also investing to increase their oil reserve, a backup, which is planned to land at 40 million barrels, an increase of about 3 million barrels from the current reserve.

Information about these plans is considered very safe when delivered by Nigerias Oil (more…)