Oil dips as economic concerns, supply and demand expectations weigh
LONDON, March 13 (Reuters): Oil prices slipped on Thursday after surging in the previous session on a larger-than-expected draw in US gasoline stocks, as markets weighed macroeconomic concerns and demand versus supply expectations.Brent futures were down 30 cents to $70.65 a barrel at 1140 GMT, while US West Texas Intermediate...
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Gold trades near record levels on rate cut hopes, tariff jitters
Gold prices traded near record high levels on Thursday, fuelled by demand for safe-haven assets amid tariff concerns and a US inflation report that reinforced expectations of a future rate cut, reports Reuters.Spot gold gained 0.5 per cent to $2,946.68 an ounce, as of 1131 GMT. Bullion hit a record...
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Commodities tune out of Trump's noise to trade fundamentals
LAUNCESTON, Australia, March 13 (Reuters): Dial out the noise and focus on the fundamentals is a tactic that may work best for global commodity markets as they navigate the mounting challenges posed by US President Donald Trump's erratic and inconsistent trade policies.While the media focus on each headline-grabbing announcement and...
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Russia's high-flying gas exporter crippled as Europe stays away
NEW YORK, Mar 13 (Reuters): When the CEO of Russian state gas giant Gazprom, Alexei Miller, opened a lavish Italian palazzo-styled building in central St Petersburg to house the company's export arm 11 years ago, he augured a future funded by European sales. "This is symbolic," he said, referring to...
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Saudi crude oil supply to China to slump in April
SINGAPORE, March 13 (Reuters): Saudi Arabia's crude oil shipments to its biggest customer, China, are expected to drop to their lowest level in more than a year in April, trade sources said on Thursday, partly due to maintenance programmes at Chinese refineries owned by Sinopec.The OPEC producer allocated 34 million...
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