Posts Tagged ‘EU’

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 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 ┬áthe ‘Remain’ camp.

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