Oil Edges Higher Ahead Of Much Anticipated OPEC+ Meeting
An important day or so for the global oil industry today and tomorrow with OPEC and its various allies meet (via online links) to discuss a new attempt at a production cap.
Read MoreAn important day or so for the global oil industry today and tomorrow with OPEC and its various allies meet (via online links) to discuss a new attempt at a production cap.
Read MoreGold prices were rangebound on Wednesday, finally settling 60 US cents higher at $US1,684.30 an ounce.
Read MoreAhead of the Herd’s Rick Mills notes that while metal prices have fallen on demand destruction due to shutdowns, mine shutdowns imply eventually a supply crunch will lead to a big price turnaround.
Read MoreGold joined iron ore and oil on the downward slope on Tuesday after the brief rise above $US1,700 an ounce.
Read MoreOil prices slid on Tuesday, taking away more of last week’s record gains as traders became increasingly sceptical of a deal to cap global oil production and the latest forecasts for US oil production revealed a slump this year and next because of low prices.
Read MoreOil Search wants $US700 million (A$1.16 billion) from institutional shareholders to increase liquidity so the company can get through the current oil price slump.
Read MoreGold futures surged on Monday to a more than seven-year high as a grim outlook on the spread of coronavirus supported investor appetite for the haven metal, even as Wall Street also surged on growing hopes that fatalities from the pandemic will soon reach a peak.
Read MoreNot surprisingly, oil futures ended lower on Monday, with the prices losing ground after a meeting of major crude producers, including Saudi Arabia and Russia, was tentatively shifted to Thursday, as tensions and finger-pointing between the world’s biggest oil producers over the weekend.
Read MoreGold ended higher on Friday off the back of the weak employment report for March which showed the damage from COVID-19 is ripping the heart out of the US jobs market and will do even worse damage in the coming months.
Read MoreBrazil’s iron ore exports are still weak and for the third month in a row fell year on year from March.
Read MoreWhile global oil prices finished last week with gains of 22% plus uncertainty now dominates with OPEC plus Russia due to meet this week and production cuts will be the only topic of substance to be discussed.
Read MoreGold’s haven reputation took a serious beating, with prices tumbling as investors sought to free up cash amid a broad and devastating market rout. Sound familiar? Sure, it’s the story of gold for much of this month. But that’s only half the answer.
Read MoreOil prices had their best day on record (two days after experiencing the biggest quarterly slide on record) after President Donald Trump said he expected Saudi Arabia and Russia to cut output by as much as 10 million to 15 million barrels a day.
Read MoreA glance through the latest expert views and predictions about commodities. Indonesia; Australia; and zinc.
Read MoreGold futures on Wednesday started the new month with a loss, stretching their fall to a fourth straight session.
Read MoreShale oil producer Whiting Petroleum Corp has gone broke, becoming the first casualty of the Russia-Saudi Arabia oil price and volume war that has seen prices for US crude slump 50% in the past month to $US20 a barrel.
Read MoreThe OPEC+ supply war and COVID-19 flattened oil prices in March and the first quarter left gold higher, silver lower and left copper a loser.
Read MoreThe spot uranium price leapt 13% last week as around the globe miners announced temporary shutdowns for the sake of worker safety.
Read MoreGlobal oil benchmark Brent crude plunged to its cheapest in 18 years on Monday, while US crude briefly tumbled below $US20 per barrel, on growing fears the global coronavirus shutdown could last months and further drop demand for energy.
Read MoreGold futures ended lower on Monday, as Wall Street rose strongly, the dollar followed suit and traders wondered about the rapidly moving developments in the coronavirus pandemic.
Read MoreGold equities have suffered from the liquidity-driven global sell-off over recent weeks but several brokers suggest the outlook is much brighter, as flight-to-safety concerns take over.
Read MoreA glance through the latest expert views and predictions about commodities. Iron ore; manganese; and oil & gas.
Read MoreGold explorer MinRex Resources (ASX: MRR), which holds ground just a few kilometres to the north-east of the $1.2 billion capped Silver Lake Resources Ltd’s (ASX: SLR) gold and copper Deflector Mine, is set to release new exploration results at its Deflector Extended Gold Project at Gullewa in Western Australia.
Read MoreGold futures settled with a loss on Friday but still saw the biggest weekly rise in more than 11 years in a rebound fuelled in part by a weaker US dollar and concerns about disruptions in the physical market for the precious metal.
Read MoreThe oil price war and impact of COVID-19 has hit the US fracking sector like a sledgehammer last week as the number of active oil rigs slumped by 40 or 8% in a week.
Read MoreFirst drill-hole at Julimar Project in WA intersects outstanding intercept comprising 19m @ 2.59% nickel, 1.04% copper, 8.37g/t palladium and 1.11g/t platinum from 48m in fresh rock.
Read MoreA glance through the latest expert views and predictions about commodities. Base metals; cost curves; lithium; and mine closures.
Read MoreThe gloom around oil returned on Thursday with more pessimism about future demand, pushing prices close to the $US20 a barrel level.
Read MoreOil futures reversed earlier losses to end Wednesday with a small gain, joining silver, copper and iron ore in the green, while gold fell.
Read MoreAhead of the Herd’s Rick Mills discusses what the virus and the US response imply for the price of gold, as well as silver and copper.
Read MoreOil, gold, silver, copper and iron ore all caught the latest wave of ‘optimism’ to some degree and closed higher on Tuesday.
Read MoreThe virus is having its impact on the uranium industry, sending the spot price under US$24/lb for the first time since July 2018.
Read MoreGold futures soared on Monday, jumping more than $US80 an ounce. That’s a jump of 5.6% and was the biggest daily dollar climb for the most-active contact, based on records dating back to 1984, and the largest one-day percentage rise since March 2009, according to Marketwtach.com.
Read MoreAre the Americans blinking first in the great global oil price war which is making the impact of the COVID-19 pandemic in markets worse?
Read MoreIn the last 10 trading days, gold has dropped $US250, an unusually steep decline in a short period of time, as the combination of the growing COVID-19 pandemic and the impact from the Saudi-Russia oil price and volume war have knocked investors sentiment.
Read MoreNord Gold SE acquires a 19.9% stake in CDV and also lodges a non‐binding indicative and conditional takeover proposal for CDV, priced at $0.45775 per share.
Read MoreA geological “stone’s throw” from Cadia Valley, under-the-radar micro-cap Krakatoa Resources is steaming ahead in its hunt for porphyry copper/gold systems in the prolific Lachlan Fold belt in NSW.
Read MoreFrom the sublime to the ridiculous. A day after oil futures hit 18-year lows, they have enjoyed the biggest ever one day rise – nearly 24%.
Read MoreOn the whole, Wednesday was another miserable day for commodities, especially oil. Oil prices were hammered in global markets, dropping to yet another round of 18-year lows, gold, copper, and silver slid, but iron ore edged higher for yet another day.
Read MoreIn more normal times – and nothing is normal at the moment – low oil prices benefit the global economy and stocks such as manufacturers and transport companies. Tim Boreham outlines those Australian companies which stand to benefit from significantly lower energy prices.
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