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Gold edges higher, reclaiming $3,300, on rising geopolitical tensions and US fiscal woes
Gold (XAU/USD) breaks higher on Wednesday towards $3,308 at the time of writing, fueled by concerns that tensions in the Middle East might spiral out of control again and US fiscal woes. In late trading on Tuesday, CNN reported that Israel is considering targeting nuclear sites in Iran.
Fxstreet
Wed, May 21
Rosneft takes control of Russia's largest rare earth deposit, registry shows
MOSCOW, May 21 (Reuters) - Russia's largest oil producer Rosneft ROSN.MM acquired Tomtor, country's largest rare earth metal deposit, a companies registry showed on Wednesday, after President Vladimir Putin last year urged that the development of the field be speeded up.Tomtor, located in t...Reuters
Wed, May 21
ANALYSIS-With output hikes, OPEC+ again targets US shale oil
Previous OPEC+ attempts to slow shale oil failedUS firms run out of easy fields, costs riseOPEC's market share halved in last 50 yearsBy Olesya Astakhova, Dmitry Zhdannikov and Alex Lawler MOSCOW/LONDON, May 21 (Reuters) - Behind OPEC+'s plan to ramp up oil output and punish over-producin...Reuters
Wed, May 21
RPT-Iran faces U.S. without Plan B as nuclear red lines collide
Differences over enrichment put nuclear talks in balanceNo deal would expose Iran to sanctions, military threat, unrestIran would strengthen ties with China, Russia, officials sayBy Parisa Hafezi, John Irish DUBAI/PARIS, May 20 (Reuters) - While rising U.S.-Iran tensions over Tehran's uranium...Reuters
Wed, May 21
Japanese farm minister resigns following gaffe over rice
Eto resigns after rice remarks spark backlashRice prices double, angering voters Ex-environment minister Shinjiro Koizumi appointed as successorKoizumi promises results as 'Minister of Rice'Prime Minister Ishiba struggles with low approval ratingsBy Chang-Ran Kim and Yoshifumi Takemoto TO...Reuters
Wed, May 21
TABLE-UAE's Fujairah oil inventory data for week ended May 19
May 21 (Reuters) - The Fujairah Oil Industry Zone published the following inventory data for oil products for the week ended May 19, according to industry information service S&P Global Commodity Insights.Volumes are in thousands of barrels. Figures in brackets represent the volume change from t...Reuters
Wed, May 21
METALS-London copper rises on dollar weakness, China rate cut
NEW DELHI, May 21 (Reuters) - Copper prices in London rose on Wednesday, tracking weakness in the U.S. dollar and stimulus efforts from top consumer China, although gains were limited due to persisting uncertainty over economic growth from tariffs.Benchmark copper CMCU3 on the London Metal Exchange ...Reuters
Wed, May 21
PRECIOUS-Gold prices hit one-week high on weaker dollar, US fiscal concerns
Trump tax-cut bill faces rare overnight stress test with US House RepublicansDollar retreated to its lowest level since May 7Palladium hits over three-month high By Anushree Mukherjee May 21 (Reuters) - Gold prices rose nearly 1% on Wednesday, hitting their highest levels in more than a week, as ...Reuters
Wed, May 21
Norway oil drilling labour unions seek wage mediation to avert strike
OSLO, May 21 (Reuters) - Wage talks involving some 7,000 oil drilling workers in Norway broke down early on Wednesday, two labour unions said, raising the risk of strike action later this year that could disrupt exploration.The talks between the Norwegian Shipowners' Association (NSA) and the Sa...Reuters
Wed, May 21
TECHNICALS-CBOT soybeans neutral in $10.47-$10.59 range
For more technical analyses, please click SINGAPORE, May 21 (Reuters) - The CBOT soybean July contract SN25 looks neutral in a range of $10.47 to $10.59 per bushel, and an escape could suggest a direction.The consolidation in the range may turn out to be a double-bottom, if the market breaks $10.59,...Reuters
Wed, May 21
WGC-Guangdong Pearl River inks LNG purchase deal with ConocoPhillips
BEIJING, May 21 (Reuters) - Guangdong Pearl River Investment Management Group said on Wednesday it has signed a 15-year sales and purchase agreement to buy liquefied natural gas from ConocoPhillips COP.N.The company did not disclose the volume of LNG covered under the agreement, which was signed on ...Reuters
Wed, May 21
Putin visits Kursk region for first time since ejecting Ukrainian forces
MOSCOW, May 21 (Reuters) - Russian President Vladimir Putin visited the western Kursk region for the first time since Russian forces ejected Ukrainian troops from the area last month. The Kremlin said that during the visit on Tuesday Putin met volunteer organisations in the region and visited the Ku...Reuters
Wed, May 21
Turkey in nuclear plant talks with Candu, energy minister says
By Nevzat DevranogluSIRNAK, Turkey, May 21 (Reuters) - Turkey is in talks with Canada's Candu Energy and other companies regarding plans to build its second and third nuclear power plants, Turkish Energy Minister Alparslan Bayraktar said.Speaking to reporters during a visit to southeast Turkey o...Reuters
Wed, May 21
Estimated 6 billion barrel shale oil reserve in southeast Turkey, minister says
By Nevzat Devranoglu SIRNAK, Turkey, May 21 (Reuters) - U.S. oil producer Continental Resources estimates there is a shale oil reserve of 6.1 billion barrels in Turkey's southeastern Diyarbakir Basin, the Turkish energy minister said.Continental Resources and Turkish national oil company TPAO...Reuters
Wed, May 21
