Petroleum business Today, Elliott Management increased the pressure for strategic changes at BHP. It is asking for a detached review of the mining giant’s petroleum business. Elliott, as important investor, has built up a 4.1 percent stake in BHP’s UK-listed arm. It is now urging changes, cause it needs to boost up shareholder value. They […]
Bosnian Iron ore mine for sale The largest steel producer in the world, ArcelorMittal has said to Bosnia’s officials it will take legal action, to protect its ownership rights. If they decide to sell government-owned stake in the Ljubija iron ore to the opposite buyer. ArcelorMittal owns a steel plant in Zenica. Which is located […]
Oil price today reached the level of $52 a barrel. Due to Russia and Saudi Arabia’s agreement on cuts. They almost definitely consider that the Supply cuts have to extend into 2018, in order to achieve the rebalance of Oil market. And to keep the OPEC-lead deal, which is crucial for the benefits of all […]
Main Economic Events Today: China Industrial Production y-o-y fell to actual 6.5%, while expected was 7.1% United Kingdom Prime Minister Theresa May Speaks This Week: Empire State, Philly Fed Manufacturing for May April China Industrial Production Euro Zone Q1 GDP – Revised Reading K. April CPI, Employment & Retail Sales Japan Preliminary First Quarter GDP […]
Short Recollection of last week Beginning by observing the Oil futures; they settled on nearly plane levels on Friday. But still registered the first weekly gain in a month. Inspired by the news that key crude producers will extend output cuts to the period after June; Firstly, on Thursday, U.S. West Texas Intermediate crude […]
Russia expects balance in Oil market; in case production cut prolongs Alexander Novak said Global Oil markets will come to a balance soon. If the production cuts extend till the early 2018; or late 2017. Entering the winter of 2018, a supply-demand will find its equilibrium. “Judging from the current dynamics in the decline […]
Russian energy ministry and output cut talks The main official of Rosneft, Igor Sechin, said on Saturday that the Russian energy ministry had his backup in discussions over oil production cuts. “The most important thing is to have a mechanism to defend our interests.” In previous months, Sechin has expressed some suspicions about the ability […]
Summary of Today’s Important Economic News: Retail sales set to recover in second quarter Fed will keep eye on inflation data Global stock mixed ahead of key U.S. data Oil in track for weekly gains of 3% S. – China trade relations ‘hitting a new high’ Gold prices move higher amid U.S. political turmoil […]
Today’s trade was broadly higher for all the base metal prices. The prices saw a little, but positive movement. Yesterday, prices were following a certain rally during the day, but they dipped just before the close. Copper is currently trading at $5,560 per tonne. It hit highs of over $5,600 per tonne yesterday afternoon, but fell […]
Amid onsets of profit-taking, and a generally bearish sentiment towards demand for the red metal, copper prices on SHFE felt back during Today’s morning trade. Some traders say: “Market players took profits after Thursday’s rally, and there is no further stimulus supporting the red metal.” “The retreat of the whole base metals complex was mainly due […]