Home / Πρώτη σελιδα (page 4)

Πρώτη σελιδα

SOYBEANS EASE FURTHER FROM 6-1/2 YEAR TOP; CORN, WHEAT ALSO LOWER

Chicago soybean futures fell for a second session on Friday as a slowdown in U.S grain exports and broad losses in financial markets encouraged soy prices to ease from a 6-1/2 year high. Corn and wheat also dropped for a second day in the wake of Thursday’s lower than expected weekly U.S. export sales, which tempered concern about tightening global supply that have fuelled multi-year highs in Chicago grains in the past month. The U.S. Department of Agriculture (USDA) said on Thursday that weekly export sales of soybeans totalled 238,700 ...

Read More »

Fitch Ratings Revises Global Metals and Mining Price Assumptions

Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from returning demand while the supply response remains slow and inventories are running low. Our revision of all iron ore price assumptions is the most significant change and is driven by tight market supply, which we expect to continue in the next couple of years, and the absence of material new projects over a long period that could offset depleting mines. Vale has cut its production guidance ...

Read More »

Copper set for best monthly gain since 2016 on tight supply, demand outlook

Copper prices were set to notch their best month since 2016 on low inventories and a bright outlook for demand, despite a slight easing on the day as a week-long rally in industrial metals ran out of steam. Three-month copper on the London Metal Exchange CMCU3 was down 0.8% at $9,333.50 a tonne by 0316 GMT on Friday. The contract, however, gained 18.7% so far in February, set for the best month since November 2016. On Thursday, LME copper hit its highest since August 2011 of $9,617 a tonne, only ...

Read More »

Oil drops on dollar strength and OPEC+ supply expectations

Oil prices fell on Friday as bond price rout led to gains in the U.S. dollar while crude supply is expected to rise in response to prices climbing above pre-pandemic levels. Brent crude futures for April, which expire on Friday, fell 99 cents, or 1.4%, to $65.89 a barrel by 1203 GMT. The more actively traded May contract slipped by $1.19 to $64.92. U.S. West Texas Intermediate (WTI) crude futures dropped $1.27, or 2%, to $62.26. A sell-off in bond markets lifted the U.S. dollar, making dollar-priced oil more expensive ...

Read More »

Oil and gas explored in the past decade reached 10.1 billion tons and 6.85 trillion cubic meters in China: Ministry of Natural Resources

Oil and gas discovered in the past decade reached 10.1 billion tons and 6.85 trillion cubic meters respectively, accounting for 25% and 45% of the total explored sum since 1949, revealed the Ministry of Natural Resources at a media conference Thursday on achievements of mine and oil and gas discoveries between 2011 and 2020. The ministry detailed that exploration focus is moving toward the western areas of China and the ocean. There are 17 oil fields discovered, each with hundreds of millions of tons, and 21 gas fields, each with ...

Read More »

Could oil Majors and Independents generate record free cash flow this year?

International oil companies (IOCs) have just been through one of their toughest ever years. But the sector is primed for a V-shaped free cash flow recovery, potentially to record levels. What’s fuelling the shift in fortunes, and how will it shape corporate priorities? This article is an extract from Majors and Independents primed for record free cash flow generation. After the storm – IOCs are more resilient In the depths of the 2020 downturn IOCs were haemorrhaging cash. But the crisis has forced them to take action to be more ...

Read More »

Chinese banks, Australia’s Macquarie tiptoe into Asian oil finance void

Chinese national banks and Australia’s Macquarie Group are quietly filling some of the multi-billion-dollar hole in Asian oil financing after the withdrawal of traditional European lenders, hurt by a raft of defaults and fraud allegations. Established financiers still taking on oil transactions, such as France’s BNP Paribas and Singapore’s OCBC, have raised compliance standards and are shying away from higher-risk small traders and refiners, according to interviews with over a dozen trading and banking executives. Beijing-controlled Bank of China, ICBC Standard and Agricultural Bank of China are among the few ...

Read More »

UK DATA: Upstream oil output plunges 7% to three-year low in 2020

UK oil production dropped 7% to a three-year low of 1.03 million b/d in 2020, while the country was a net exporter of crude and natural gas liquids for the first time since 2004, statistics from the Department for Business, Energy & Industrial Strategy, or BEIS, showed. The sharp drop in output has been attributed by the industry to restrictions on offshore activity due to COVID-19, although postponement of maintenance particularly in the first half may have supported production levels, before operators moved to catch up on essential activity in ...

Read More »

NEO Energy to become a top ten producer in the UK with ExxonMobil North Sea deal, says GlobalData

Following the news that NEO Energy is acquiring ExxonMobil’s Central and Northern North Sea assets in the UK; Daniel Rogers, Senior Oil and Gas Analyst at GlobalData, a leading data and analytics company, offers his view on the deal: “This section of Exxon’s UK North Sea portfolio has been on the market since 2019 when the deal was originally valued at US$2bn. The portfolio is oil weighted as the gas rich assets in the Southern North Sea were not included as part of the deal. The non-operated assets produced around ...

Read More »

Stock markets hit by bond whiplash

Global stocks fell on Friday, with emerging market and Asia shares hardest hit, as a recent rout in global bond markets spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets. MSCI’s Emerging Markets equity index suffered its biggest daily drop in nearly 10 months and was 3.1% lower, while European shares were deep in the red, with the STOXX 600 down 1.1%. The MSCI world equity index, which tracks shares in 50 countries, was 1.1% lower and heading for its worst week in a ...

Read More »

World stocks’ dance to continue, but inflation could mute the music: Reuters poll

The bull-run in global stocks fuelled by cheap cash and reflation hopes will continue for at least another six months but a rise in bond yields as inflation expectations grow could throw a spanner in the works, Reuters polls found. Despite severe economic damage from the pandemic, MSCI’s global stock index — which tracks shares across 49 countries — notched up all-time highs this month, having risen over 70% since hitting rock-bottom in late March amid ample liquidity from central banks and massive fiscal stimulus. In recent trading sessions, world ...

Read More »

EU-U.S. data flows could face ‘massive disruption’ – Irish regulator

One of the European Union’s most powerful data regulators has warned companies may yet face massive disruption to translatlantic data flows as a result of an EU court ruling last year, despite efforts by policymakers to avoid that outcome. Europe’s highest court last July ruled an EU-U.S. data transfer agreement was invalid, citing concerns the U.S. surveillance regime might not respect the privacy rights of citizens in the bloc. Irish Data Protection Commissioner Helen Dixon, who was involved in the case, said the full impact would be determined by an ...

Read More »

U.S. labor market showing tentative signs of improvement; manufacturing strong

Fewer Americans filed new claims for unemployment benefits last week amid falling COVID-19 infections, but the near-term outlook for the labor market is unclear after winter storms wreaked havoc in the South region in the middle of this month. Still, the decline in claims to a three-month low reported by the Labor Department on Thursday suggested the labor market was slowly regaining traction, catching up with the broader economy, after hitting a pothole in late 2020. Other data showed a solid increase in demand for U.S.-manufactured goods in January. The ...

Read More »

UK has to drop bias to promote trade

That the United Kingdom imported more goods from China than from any other trading partner in the second quarter of 2020 speaks volumes about how important trade with China is to the economy of the UK. It also explains why UK Prime Minister Boris Johnson declared that he was “fervently Sinophile” at a Downing Street roundtable on Feb 12. It was reported that the UK prime minister also signaled that he wanted a resumption of formal trade discussions between the two countries by reactivating-two forums-the Economic and Financial Dialogue and ...

Read More »

Atlanta Fed’s Bostic says not worried about rise in bond yields with rates still comparatively low

Bond yields remain comparatively low despite a recent increase, and the Federal Reserve does not need to do anything to address the recent uptick, Atlanta Fed President Raphael Bostic said. “Right now I am not worried about that. … We will keep an eye out. … I am not expecting that we will need to respond at this point in terms of our policy,” Bostic said. Source: Reuters (Reporting by Howard Schneider; editing by Jonathan Oatis)

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping