|Day's range||71.27 - 72.70|
Oct 15 (Reuters) - Anyuan Coal Industry Group Co Ltd : * SAYS PRODUCTION HAS RESUMED IN ITS UNIT ON OCT 12 AFTER TWO WORKERS WERE KILLED IN ACCIDENT IN SEPT Source text in Chinese: https://bit.ly/2pVh1yQ ...
* Market touches 2,220 rgt/T, highest since Oct 5 * Oil, bearish production outlook supportive of prices - Trader * Palm oil may bounce into 2,214-2,228 rgt/T range - Technicals By Emily Chow KUALA LUMPUR, ...
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures rose 1 percent on Friday evening, its sharpest daily ...
The Permian is literally burning $1 million every day, and it could lead to an opportunity for miners looking to turn natural gas into bitcoin
There may not be a supply squeeze going on at this very moment in oil markets, but this narrative will continue to spook oil markets for the next couple of months
The British pound dropped during the week against the Japanese yen, but as you can see the ¥147 level has offered support as we approached it. This is a market that has been going back and forth, but I would draw your attention to the shooting star from three weeks before.
The Euro went back and forth during the trading week, showing signs of resiliency and the 1.15 level. Friday was a bit soft, but overall it looks like we are going to continue to see buyers in this general vicinity.
The Australian dollar has bounced a bit during the week, breaking above the 0.71 level before selling off a little bit later on Friday. This is a positive candle, but quite frankly it pales in comparison of the negative candle stick that we had seen the previous week.
Crude oil markets fell during the day on Friday, as we continue to see a bearish pressure in the commodity markets. However, we are above support levels as I write this article.
The British pound has pulled back a little during the session on Friday, showing signs of life again after falling initially. The market is one that I think is fairly well supported, but also has a lot of noise attached to it due to the Brexit.
At 3:47 p.m. (1947 GMT), the Canadian dollar was trading nearly unchanged at 1.3037 to the greenback, or 76.70 U.S. cents. For the week, the loonie was down 0.7 percent as investors worried that higher bond yields and trade conflicts could hurt global economic growth. Canada exports many commodities, including oil, and runs a current account deficit so its economy could suffer if the flow of trade or capital slows.
The U.S. and Canadian rig counts are rising this week amid a steep correction in oil prices caused by a global rout in equity markets
On October 12, the IEA (International Energy Agency) released its Oil Market Report. In the report, the IEA cut oil’s demand growth forecast by 0.1 MMbpd (million barrels per day) to 1.3 MMbpd and 1.4 MMbpd for 2018 and 2019, respectively. The cut might be a negative development for oil prices.
* Market sees sharpest daily jump in a week * Palm however down 1.3 pct on weekly basis (Updates with closing prices) By Emily Chow KUALA LUMPUR, Oct 12 (Reuters) - Malaysian palm oil futures rose 1 percent ...
Oil markets look "adequately supplied for now" after a big production increase in the last six months, but the industry is coming under strain, the West's energy watchdog said on Friday. The International Energy Agency said in its monthly report that the world's spare oil production capacity was down to 2 percent of global demand, with further falls likely. Members of the Organization of the Petroleum Exporting Countries (OPEC) and other exporters such as Russia agreed in June to raise output as the market appeared increasingly tight.
* Ringgit appreciation caps gains - trader * Palm down 1.5 pct on week so far By Emily Chow KUALA LUMPUR, Oct 12 (Reuters) - Malaysian palm oil futures rose on Friday after two sessions of declines, tracking ...
MUMBAI (Reuters) - The rupee opened stronger on Friday helped by a drop in global crude oil prices overnight and a recovery in the domestic share market.
OPEC has revised its global oil demand growth estimates downwards for a third month in a row, citing economic growth and trade disputes as the reason
India's oil imports from Iran edged up in September from the previous month as refiners pushed back loading of some August cargoes due to a delay in obtaining government approval to use Iranian ships and insurance, data obtained from sources showed. Last month, India shipped in about 528,000 barrels per day (bpd) oil from Iran, about 1 percent more than the 523,000 bpd of August and about 27 percent more than a year earlier, tanker arrival data obtained from shipping and industry sources showed. Data from other sources, such as from the Institute of International Finance, show that Iranian oil exports are declining before the United States imposes sanctions on Iran's oil sector on Nov. 4 after pulling out of an international agreement on Iran's nuclear activities.
Oil prices continued to slide on Wednesday morning thanks, in large part, to consecutive reports suggesting that crude oil inventories are rising
Oil prices have rallied this year on expectations that U.S. sanctions on Iran will strain supplies by lowering shipments from OPEC's third-largest oil producer. OPEC Secretary-General Mohammad Barkindo, speaking at the Oil & Money conference in London, said there were many non-fundamental factors influencing the oil market that were beyond oil producers' control. "The projections for 2019 clearly show a possible rebuild of stocks," he said of the supply and demand balance for next year.
* Palm drops hits 1-week low of 2,153 rgt/T * May fall into 2,162-2,171 rgt/T range - technicals (Updates with closing prices) By Emily Chow KUALA LUMPUR, Oct 11 (Reuters) - Malaysian palm oil futures ...