01182017Wed
Last update: Wed, 18 Jan 2017 11pm

Europe

Markets - Commodities - Europe

Oil prices drop as Saudi cautious on output freeze LONDON: Oil prices fell on Friday as Saudi Arabia reportedly urged caution on a possible output freeze by producers to tackle a global supply glut, traders said.Around 1130 GMT, US benchmark West Texas Intermediate for delivery in May slid 89 cents to $37.45 a barrel.Brent North Sea crude for June delivery was down 82 cents at $39.51 a barrel compared with Thursday's close.Bloomberg News on Friday reported that according to Saudi Arabia's deputy crown prince, the kingdom should freeze its oil output only if mirrored by Iran and other major oil producers."If all countries agree to freeze production, we're ready," Mohammed bin Salman said in an interview. Major oil producers led by Russia and Saudi Arabia will meet on April 17 in Doha to discuss measures to stabilise prices, including a proposal not to pump out oil above a certain level.Oil prices are being hit in part owing to the ...

Markets - Commodities - Europe

EU wheat at 2-week low despite light US area estimate PARIS: Euronext wheat futures extended losses in late trade on Thursday, falling to their lowest in almost two weeks as the market shrugged off a smaller-than-expected estimate of US sowings to focus on a strong euro and good crop conditions.May milling wheat on Euronext settled down 2.50 euros at 152.75 euros a tonne, after touching its lowest since March 18 at 152.25 euros in closing deals. Closey watched US Department of Agriculture (USDA) planting projections ...

Markets - Commodities - Europe

European feeds-Soymeal in tight range ahead of USDA reports ROTTERDAM: Soymeal on the European meals and feeds market was offered in a tight range on Thursday ahead of USDA's planting forecasts and quarterly stocks reports, which were issued too late in the European day for players to react to. "Even if players were not waiting for the USDA figures there would have been little going on. Fundamentally little has changed and there were as good as no leads to work with before the release ...

Markets - Commodities - Europe

EU wheat slips to one-week low on strong euro and good crop weather PARIS: Euronext wheat futures extended losses on Thursday, hitting their lowest in more than a week as a rallying euro dampened export sentiment and rain relief expected in dry US wheat belts kept attention on a plentiful supply outlook. Traders were also awaiting US Department of Agriculture (USDA) planting and stocks reports at 1600 GMT that are among the most watched publications of the year in grain markets. May milling wheat, the most active contract ...

Markets - Commodities - Europe

Copper recovers from 4-week low, stronger US data helps LONDON: Copper recovered on Thursday after hitting a four-week low, as positive sentiment created by a lower dollar was reinforced by strong manufacturing data from the United States. Traders said much of the early selling was because of book-squaring for the end of the quarter, and that the recovery was partly due to the Chicago purchasing managers index coming in at 53.6 in March, above the consensus of 50. Benchmark copper on the London Metal ...

Markets - Commodities - Europe

Russia keeps wheat price flat for 2016/17 state restocking  MOSCOW: Russia's Agriculture Ministry has kept wheat prices unchanged for its restocking programme in the 2016/17 marketing year, which starts on July 1, signalling stronger competition in the domestic market.The ministry, which has 3.1 million tonnes of grains in state stocks, buys grain on the domestic market every year in what are known as interventions.It said late on Wednesday it would offer 10,900 roubles ($161) a tonne for third-class wheat in the domestic market during ...

Markets - Commodities - Europe

Copper falls to 4-week low, finds support from soft dollar LONDON: Copper slid to a four-week low on Thursday as funds cut bets on higher prices, though losses were capped by the softer dollar ahead of key economic data from the United States and top consumer China.Benchmark copper on the London Metal Exchange was down 0.8 percent at $4,832 a tonne at 1008 GMT, having slipped to $4,816.50 earlier in the session, the lowest since March 3.Traders say much of the selling was because of ...