Pressure Grows For Coal Producers
While oil was in the hot seat in March-April, coal is now in focus, reeling from a slump in demand as prices fall to multi-year lows. What is a reasonable short-term floor?
Read MoreWhile oil was in the hot seat in March-April, coal is now in focus, reeling from a slump in demand as prices fall to multi-year lows. What is a reasonable short-term floor?
Read MoreOil futures settled higher on Wednesday thanks to a relief rally based on news that wasn’t as bad as it could have been. US stocks rose last week, but not quite as much as forecast, production eased a touch, and stocks of product held in the US eased.
Read MoreTraders in the oil markets are getting desperate for any ‘good news’ On Tuesday an explosion in Syria on an oil tanker sparked a 30% surge in the price of West Texas Intermediate – that lasted several hours before prices sank back and fell for a loss on the day.
Read MoreA weaker US dollar, scattered signs of a relaxation of the lockdowns in the US, Asia, and Europe saw an easing of tensions in markets and that led gold to a small drop on the day, along with silver.
Read MoreAnother bad day for oil with a slide that started in Asia in early trading, ending in New York at settlement for West Texas Intermediate (WTI) crude with a near 25% slump.
Read MoreAhead of the Herd’s Rick Mills argues why the virus only enhances an already bullish story for precious metals.
Read MoreOil prices rose on Friday but still fell for the week – the most volatile in the market’s history. But that’s all history, the big event this week and for a while will be the May 1 start of the latest cap on global oil production by OPEC, Russia, and several smaller producers, plus benign support from the US.
Read MoreGold futures ended lower on Friday but enjoyed their fourth weekly gain in five weeks as investors continued to weigh demand for the metal against mixed trading in the stock market ahead of the busiest week in the March quarter reporting season.
Read MoreCTM is well-funded with $7.5 million in cash as at 31 March 2020 to complete its extensive in-fill and resource definition drilling at Jaguar to report a maiden JORC 2012 Resource by mid-2020.
Read MoreBoom, boom for oil? For a second session, oil prices have risen sharply. Are we seeing the return of the boom? Not really, the rises merely reflect a retracement of the big falls of Monday and Tuesday when US crude futures went negative, weighed down by too many sellers and no buyers as the contract approached its expiration.
Read MoreGold prices edged up to daily highs after the release of the preliminary manufacturing and service-sector sentiment reports for April and the latest jobless claims numbers.
Read MoreAnalysts at Bank of America are upbeat on the outlook for gold prices, raising their 18-month price target to $US3,000 an ounce from $US2,000. The drivers they said would be the prospect of endless monetary expansion from central banks, including the Federal Reserve, to limit the economic damage from the COVID-19 pandemic.
Read MoreA more ‘normal’ day’s trading for oil on Wednesday saw gains for both US West Texas Intermediate and Brent than would normally be headline grabbers.
Read MoreThe uranium spot price continues to soar on ongoing supply curtailment.
Read MoreThe dislocation in oil markets took a day to spill over into other commodity markets on Tuesday with silver, gold, copper, platinum, palladium and iron ore all pushed lower by nervous traders.
Read MoreIf anyone thought the expiration of the May contract on Nymex for US West Texas Intermediate crude would see an easing in the chaotic trading seen on Monday, think again – the rollover into June merely saw the problem, ‘rolled over’ into a new month.
Read MoreIgnore what was a solid third-quarter production update from BHP and instead look at the warning issued by the company’s CEO about future demand from major customer economies.
Read MoreThe seemingly impossible is easily explained, and the WTI crude price crash into the negative last night is really just a storm in a tea cup.
Read MoreA lack of storage caused a major sell-off in WTI crude last night, sending the price deep into the negative. Dow down -592.
Read MoreGlobal iron ore prices firmed on Monday after the giant Brazilian miner, Vale, slashed its 2020 guidance for iron ore fines and pellets.
Read MoreIn contrast to oil’s chaos, we saw what was a ‘normal’ day for Comex commodities – gold and silver rose, copper dipped without too much fuss.
Read MoreSo what happens today and tonight with trading in US West Texas Intermediate (WTI) crude oil after the May contract crashed into negative territory for the first time in history on Monday?
Read MoreIn a zero-sum game, where one group loses another must-win. The winners of this collapse in oil are those with storage infrastructure. The highest leverage to oil storage are the crude oil shipping fleet led by the Very Large Crude Carriers.
Read MoreGold ended with a loss on Friday and ended down around 3% for the week. Silver also fell and while Brent crude rose and US oil futures were mixed, iron ore and copper all rose on the day.
Read MoreIron ore prices edged higher last week thanks to a near 1% rise on Friday despite news of the record fall in Chinese economic growth in the March quarter.
Read MoreAn almighty collapse in US oil production is coming – it could continue to trickle out, as it has been doing in the past three weeks, or it will arrive quickly in a couple of weeks in May with a rush of cuts from companies large and small.
Read MoreCHN’s share price has surged from a 12-month low of $0.125 to a current price of $1.23. Its share price surge has seen it firm strongly since our coverage initiation in March 2019 at a price around $0.16.
Read MoreRio Tinto’s iron ore exports rose 5% in the March quarter compared to the same time last year.
Read MoreApart from telling us which countries are good and bad credit risks, the debt-to-GDP ratio can also help in predicting the price of gold.
Read MoreGold, oil copper, and iron ore all fell on Thursday as the US dollar rose off the back of more bad news on the American economy.
Read MoreGold futures ended at their lowest in a week on Wednesday, ending a solid rise before and after Easter that had driven prices to a more than seven-year high on Tuesday.
Read MoreThere’s more evidence that the latest OPEC/Russia oil output agreement won’t see any significant change in prices for quite a while with the International Energy Agency (IEA) warning that 2020 will be “worst year in the history of global oil markets” and see an unprecedented collapse in demand and run-up in surplus crude.
Read MoreOZ Minerals says it has so far avoided the impact of the COVID-19 pandemic but has loaded up its liquidity. Meanwhile, BHP and its partners have revealed that their huge Antamina copper-zinc mine in the Peruvian Andes has been temporarily closed.
Read MoreIluka Resources is another company battening down the hatches by withdrawing its 2020 guidance and suspending plans to de-merge its lucrative iron ore royalty business.
Read MoreOn the face of it, China’s March import performance (down by just 0.9% from a year ago) would be enough to pose the question, COVID-19, what disruption? But that’s to come in future months on the export side when the country’s exporters look for orders from the major economies of the west and find there are very few.
Read MoreOil prices fell on Tuesday as the market’s focus returned to weak demand as traders lost what little enthusiasm they had for the production cut deal from OPEC and Russia and endorsed by President Donald Trump.
Read MoreGold futures rose for a fourth straight session on Tuesday but then dipped in after-hours trading. Weakness in the US dollar provided a lift to gold, even as the sharemarket rose on hopes of an early re-opening of the economy.
Read MoreThe US has brokered an historic oil production agreement between OPEC, Russia and the G20, although brokers are sceptical about whether this will have enough impact on supply/demand dynamics.
Read MoreComex Gold futures climbed on Monday to yet another seven-year high as the US dollar weakened and risk worries eased. Silver though fell, oil was weak, but copper rose as did iron ore.
Read MoreWith global demand down more than 15 million barrels a day, on top of already high levels of surplus oil, analysts say the OPEC/Russia cuts do not add up to a decrease big enough to make a difference to the surplus and to put a floor under world prices.
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