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Gold Price Forecast: XAU/USD approaches key resistance around $3,330
Gold (XAU/USD) is trimming some losses on Wednesday, drawing support from the sour market sentiment. The precious metal has bounced from two-week lows right above $3,300, but remains capped below previous support at the $3,330 area, which leaves the broader bearish trend intact.
Fxstreet
Wed, Aug 20
RPT-COLUMN-Oil price smile could leave traders in tears: Bousso
IEA, EIA forecast large supply overhang in coming quartersYet future Brent oil price do not reflect the need to store oilGeopolitical tensions blur the outlook for supply and demandBy Ron Bousso LONDON, Aug 20 (Reuters) - A glaring mismatch between benchmark oil prices and expectations of a loomi...Reuters
Wed, Aug 20
EUROPE GAS-Prices hover around 15-month lows amid comfortable supply
Aug 20 (Reuters) - Dutch and British wholesale gas prices largely traded sideways on Wednesday morning, remaining at around 15-month lows, with supplies stable and no major changes to the demand outlook.The benchmark Dutch front-month contract at the TTF hub TRNLTTFMc1 was up 0.23 euro to 31.30 eur...Reuters
Wed, Aug 20
TABLE-North Sea gas maintenance schedule: Adds Bacton outage
Aug 20 (Reuters) - The following is a schedule of maintenance work on gas infrastructure, mainly in the North Sea.The table is arranged by outage start date.Volumes are in standard million cubic metres per day (mcm/d) or gigawatt-hours per day (GWh/d) unless otherwise indicated.OPERATORLOCATIONOUTAG...Reuters
Wed, Aug 20
South Korean petrochemical companies to cut capacity, restructure, government says
South Korea's petrochemical sector to cut capacity to boost efficiencyGovernment to ease regulations, offer financial support for restructuringGlobal petrochemical margins unlikely to recover before 2027, analysts sayBy Heejin Kim SEOUL, Aug 20 (Reuters) - Ten South Korean petrochemical compa...Reuters
Wed, Aug 20
SCG chemicals' Vietnam unit resumes full operations
HANOI, Aug 20 (Reuters) - Vietnam's Long Son Petrochemicals, a unit of Thailand's SCG Chemicals, has resumed full operations following a suspension from November last year, it said on Wednesday.The resumption of operations at the $5.4-billion complex in southern Vietnam came after an improve...Reuters
Wed, Aug 20
METALS-Aluminium hits over two-week low as US widens 50% tariff
By Amy Lv and Lewis Jackson BEIJING, Aug 20 (Reuters) - Aluminium wobbled on Wednesday after touching their lowest level in more than two weeks after the United States widened the 50% import tariff to the metal-made products, although hopes of seasonally improving demand in top consumer China cur...Reuters
Wed, Aug 20
TABLE-UAE's Fujairah oil inventory data for week ended August 18
Aug 20 (Reuters) - The Fujairah Oil Industry Zone published the following inventory data for oil products for the week ended August 18, according to industry information service S&P Global Commodity Insights.Volumes are in thousands of barrels. Figures in brackets represent the volume change fro...Reuters
Wed, Aug 20
Trafigura-led consortium aims to finalise US loan deal by end-2025
Talks 'going in the right direction', CEO saysRail upgrade key to clean energy mineral logisticsConsortium targets 1.5 million tons annual volumes By Nelson Banya Aug 20 (Reuters) - Lobito Atlantic Railway (LAR) aims to finalise by the end of this year a $533 million loan deal with the U....Reuters
Wed, Aug 20
“America First” on Steroids — 50% Tariffs Now Hit 407 Steel and Aluminum Products, But Who Will Pay the Price?
TradingKey - On August 19 (local time), the U.S. Department of Commerce announced the expansion of its steel and aluminum tariffs to 407 new product categories, imposing a 50% tariff rate on items including wind turbines, mobile cranes, railway vehicles, furniture, compressors
TradingKey
Wed, Aug 20
Turkey's Karpowership to supply Iraq with up to 590 MW of electricity
ISTANBUL, Aug 20 (Reuters) - Floating power plant operator Karpowership has signed a deal to provide Iraq with up to 590 megawatts of electricity to stabilise its national grid, the Turkish company said on Wednesday.A member of the Organization of the Petroleum Exporting Countries and one of the wor...Reuters
Wed, Aug 20
TECHNICALS-CBOT soybeans may retest support at $10.30-3/4
For more technical analyses, please click SINGAPORE, Aug 20 (Reuters) - The CBOT soybean November contract SX25 may retest support at $10.30-3/4 per bushel, a break below which could be followed by a drop to $10.25-1/2.A wave c from $10.47-3/4 looks incomplete. It is supposed to travel to $10.25-1/2...Reuters
Wed, Aug 20
GRAINS-Soybean futures rise after two-day slide; China demand still lags
BEIJING, Aug 20 (Reuters) - Chicago soybean futures rose slightly on Wednesday after two sessions of losses, as traders monitored results from the annual crop tour, though weak Chinese demand continued to weigh on sentiment.The most active soybean contract on the Chicago Board of Trade (CBOT) Sv1 wa...Reuters
Wed, Aug 20
Crude oil price today: WTI price bullish at European opening
West Texas Intermediate (WTI) Oil price advances on Wednesday, early in the European session. WTI trades at $62.14 per barrel, up from Tuesday’s close at $61.95.Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $65.60 price posted on Tuesday, and trading at $65.80.Fxstreet
Wed, Aug 20
COLUMN-Oil price smile could leave traders in tears: Bousso
IEA, EIA forecast large supply overhang in coming quartersYet future Brent oil price do not reflect the need to store oilGeopolitical tensions blur the outlook for supply and demandBy Ron Bousso LONDON, Aug 20 (Reuters) - A glaring mismatch between benchmark oil prices and expectations of a loomi...Reuters
Wed, Aug 20
Putin, Modi to meet in Delhi by end of year, Russian embassy official says
NEW DELHI, Aug 20 (Reuters) - Russian President Vladimir Putin and India's Narendra Modi will meet in New Delhi by the end of year, but no dates have been finalised yet, a Russian embassy official in India said on Wednesday.Reuters
Wed, Aug 20
