News
Important Only
Russia scraps fuel import duty but sees no need for imports for now, TV reports
MOSCOW, Oct 17 (Reuters) - Russian Deputy Prime Minister Alexander Novak said on Friday that Russia had scrapped a duty on fuel imports, but saw no immediate need for buying fuel from abroad, according to Rossiya 1 TV station.Some Russian regions have been suffering gasoline shortages and the autho...Reuters
Fri, Oct 17
VEGOILS-Palm ends lower on weak crude oil, logs weekly fall
KUALA LUMPUR, Oct 17 (Reuters) - Malaysian palm oil futures ended lower on Friday, snapping a two-week rally, as weaker crude oil prices pressured the market. The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange slid 6 ringgit, or 0.13%, to 4,514 rin...Reuters
Fri, Oct 17
Gold tops $4,300, set for biggest weekly surge since 2008
Oct 17 (Reuters) - Gold surged past $4,300 an ounce on Friday, headed for its biggest weekly gain since December 2008, as geopolitical and economic uncertainty along with growing U.S. rate cut bets drove investors to the safe-haven metal.
Reuters
Fri, Oct 17
US, Singapore call on UN to delay carbon shipping price vote amid splits
LONDON, Oct 17 - The United States, Singapore, Liberia and Saudi Arabia on Friday called on the U.N. shipping agency to postpone adoption of a carbon price on ships, as states failed to find consensus during talks in London this week.The U.S. and Saudi Arabia have strongly opposed a carbon price on ...Reuters
Fri, Oct 17
RPT-COLUMN-Energy transition set to divide manufacturers across the Atlantic: Maguire
By Gavin MaguireLITTLETON, Colorado, Oct 17 (Reuters) - Manufacturers in North America and Europe are set to embark on starkly different power-source paths in the decades ahead, which could reshape the future prospects for goods producers on both sides of the Atlantic. In North America, natural gas ...Reuters
Fri, Oct 17
Copper: Chinese companies want to increase metal exports – Commerzbank
According to Bloomberg reports, Chinese smelters are taking advantage of the current high world market prices and want to increase their exports, which is likely to have contributed to the recent decline in Copper and Zinc prices, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.Fxstreet
Fri, Oct 17
SLB beats estimates for third-quarter profit
Oct 17 (Reuters) - SLB SLB.N beat Wall Street estimates for third-quarter profit on Friday, helped by higher-than-expected demand for its oilfield equipment and services in North America. The company reported an adjusted profit of 69 cents per share for the quarter ended September 30, compared with ...Reuters
Fri, Oct 17
Sovereign Funds Join $11 Billion Aramco Gas Deal-Semafor
Oct 17 (Reuters) - SOVEREIGN FUNDS JOIN $11 BILLION ARAMCO GAS DEAL-SEMAFORINVESTORS FOR THE DEAL INCLUDE SOVEREIGN WEALTH FUNDS FROM SAUDI, SINGAPORE, UAE, AND SOUTH KOREA’ NATIONAL PENSION SERVICE -SEMAFORSource text: https://tinyurl.com/mr6j34nzReuters
Fri, Oct 17
IEA likely overestimates supply surplus in oil market – Commerzbank
The IEA expects a massive oversupply of 4 million barrels per day on the Oil market next year. However, the IEA's assumptions regarding supply are extremely ambitious, Commerzbank's commodity analyst Carsten Fritsch notes.Fxstreet
Fri, Oct 17
Gold to hit $5,000/oz in 2026, HSBC says
Oct 16 (Reuters) - HSBC on Friday raised its 2025 average gold price forecast by $100 to $3,455 per ounce, citing geopolitical tensions, economic uncertainty, and a weakening U.S. dollar, and projected prices could reach $5,000 in 2026. "Gold rally likely sustained through 1H'26 by ...Reuters
Fri, Oct 17
ADM seeks to lure soy sales from US farmers as prices languish, sources say
ADM offers free deferred pricing to entice soybean deliveriesFarmers are storing soybeans in hopes that prices will improveProcessors raise basis bids to encourage crop salesBy Tom Polansek CHICAGO, Oct 17 (Reuters) - Archer-Daniels-Midland ADM.N, one of the world's biggest grain merchants, i...Reuters
Fri, Oct 17
PRECIOUS-Gold tops $4,300, set for biggest weekly surge since 2008
China blames US for global panic over rare earths controlsGold is up about 8.1% so far this weekSilver hits record high of $54.47/ozSPDR gold trust holdings hit highest level since July 2022By Anushree Mukherjee Oct 17 (Reuters) - Gold surged past $4,300 an ounce on Friday, headed for its big...Reuters
Fri, Oct 17
