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  • Article / 13 November 2015 at 16:00 GMT

    WCU: Commodities crumble to lowest level since 1999

    Head of Commodity Strategy / Saxo Bank
    WCU: Commodities crumble to lowest level since 1999
    The persistent oil supply glut and rate hike concerns kept crude prices under pressure, while El Nino worries supported some food crops. The Bloomberg Commodity index fell to a new 16-year low as crude oil extended its slide for a second week while long liquidation saw gold hit a five-year low.
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  • Editor’s Picks / 08 November 2015 at 23:52 GMT

    Opec members clash over report, strategic goals

    Business Spectator
    Opec has delayed completing its internal report on long-term strategy as tensions deepen among members over the oil-price slump, according to delegates to the group. The disagreements could herald a tense Opec meeting next month, when oil ministers from the group gather to decide on output levels. Prices for Brent crude have tumbled, hurting the national budgets of members that rely on oil exports. Algeria, Iran and Venezuela supported language in the report saying the group wanted to maximize revenue and restore the ability to either influence prices or production, the delegates said. That clashed with language advocating “fair” prices as a goal, proposed by Opec's central secretariat and supported by Saudi Arabia, the delegates said.
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  • Article / 03 November 2015 at 15:15 GMT

    Pause before the panic

    FX Consultant / IFXA Ltd
    Pause before the panic
    The US dollar is higher across the board despite a lack of actionable data, with traders awaiting ECB president Mario Draghi's speech later today and Fed chief Janet Yellen's speech tomorrow. Markets are also waiting for US jobs data due on Friday for new clues to what the Fed will do next month.
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  • Editor’s Picks / 02 November 2015 at 22:18 GMT

    Don't make US-style mistakes in Middle East, Beijing

    Nikkei Asian Review
    Despite growing involvement of major powers, China has managed to avoid direct intervention in Middle Eastern conflicts. But reports of Chinese naval activity near Syria triggered talk that Beijing might step up its role in the region. But what are China's plans in the Middle East? So far, China's most significant involvement in the region has related to energy. China is the largest importer of Iranian oil, and until earlier this year, Saudi Arabia was China's largest supplier. China has made several investments in Iranian oil fields. With Saudi Arabia, it has exchanged investments in the refining sector. Beijing needs to take care that it does not end up unintentionally supporting some regimes over others.
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  • Editor’s Picks / 20 October 2015 at 0:25 GMT

    Iranian oil minister warns of 'corrupt parasites'

    Press TV
    Iran’s Minister of Petroleum Bijan Zangeneh has warned international companies to steer clear of middlemen as the country prepares its massive oil and gas sector for development. “It’s better for foreign companies to rely on their reputation and experience in Iran instead of bargaining on corrupt individuals,” Zangeneh said on the sidelines of an oil forum in Tehran on Monday. “We loath and detest the corrupt parasites who want to suck the blood of the nation,” he added. Zangeneh said his ministry is in a battle against “the corrupt individuals whose numbers have swelled under sanctions”. The Ministry is locked up in a legal battle to reclaim $1.9 billion in oil revenue allegedly withheld by a billionaire businessman.
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  • Article / 07 October 2015 at 9:49 GMT

    What's next for crude oil after the breakout?

    Head of Commodity Strategy / Saxo Bank
    What's next for crude oil after the breakout?
    Signs of slowing non-Opec production and forecasts of accelerating demand into 2016 have sparked a rally in crude oil which surged above its trading range on Tuesday. Stabilising commodity prices combined with the pushback of US rate hike expectations have broken the vicious circle which led to plunging stocks, bonds and currencies across many emerging markets.
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  • Editor’s Picks / 06 October 2015 at 9:54 GMT

    US must admit its Middle East mistakes

    Global Economic Analysis
    Mish Shedlock is not one to mince his words and a disagreement with one of his readers on the US stance over Syria sees him in fine, swashbuckling form. Until the US comes clean about its responsibility for "the huge mess in the MidEast", says Shedlock, there can be no solution neither to the horrors in the likes of Syria, nor the subsequent commodities ripples and migration crises that shake global financial markets. "The US has one hell of a lot to apologise for," he says, and a come-clean strategy that accepts the help of Iran and Russia in solving the mess would be a good starting point.
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  • Editor’s Picks / 02 October 2015 at 1:39 GMT

    Middle East in turmoil, but no fear premium on oil – yet

    The Guardian Australia
    Instability stretches across the Middle East, with the Arab Spring a distant memory. And yet, remarkably, even as most of the region began to burn, oil prices collapsed. In the past, instability in the region triggered global recessions. This time around, Middle East instability is far more severe and widespread. But there appears to be no “fear premium” on oil prices; on the contrary, oil prices have declined sharply since 2014. Why? Unlike in the past, the turmoil has not caused a supply shock. However a burning Middle East could destabilise the world in many ways.
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