News
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Silver Price Forecast: XAG/USD wobbles around $48.70 at the start of US data-packed week
Silver price (XAG/USD) consolidates in a tight range around $48.70 during the European trading session on Monday. The white metal starts the week on a calm note as investors await a slew of United States (US) economic data releasing this week.
Fxstreet
Mon, Nov 3
Sinopec in talks to buy China's leading jet fuel distributor, Bloomberg News reports
Nov 3 (Reuters) - The world's largest refiner by capacity, Sinopec Group 0386.HK, is in talks to buy the country's dominant jet fuel distributor, China National Aviation Fuel Group (CNAF) in a government-initiated move, Bloomberg News reported on Monday.Talks are ongoing, with no set timelin...Reuters
Mon, Nov 3
US deputy energy secretary: I don't think there will be an oil glut in 2026
ABU DHABI, Nov 3 (Reuters) - The U.S. Department of Energy's deputy secretary, James Danly, said on Monday that he does not think there will be an oil glut in 2026."We have a demand signal for energy that is going up rapidly", Danly said at the ADIPEC energy conference in Abu Dhabi.Reuters
Mon, Nov 3
Morgan Stanley lifts H1 2026 Brent forecast to $60 on OPEC+ pause, Russia sanctions
Nov 3 (Reuters) - Morgan Stanley on Monday raised its Brent crude forecast for the first half of 2026 to $60 a barrel from $57.5, citing the decision by OPEC+ to pause quota hikes in the first quarter of next year and recent U.S. and EU sanctions on Russian oil assets.The bank expects a "substan...Reuters
Mon, Nov 3
Gold Price Forecast: Bulls remain capped below $4,045 resistance
Gold (XAU/USD) has bounced from last week's lows below the $3,900 level, yet bulls remain unable to confirm above a previous support area around $4,045 (October 24 low), which leaves price action fluctuating without a clear bias around the $4,000 level on Monday,, with investors awaiting US manufact
Fxstreet
Mon, Nov 3
TotalEnergies CEO says electricity is best hedge against oil and gas volatility
Total aims for power to reach 20% of sales mix by 2030CEO says gas more expensive, oil demand growth slowingAI, Data boom requires more powerRenewables expansion allows for growth in gas salesBy America Hernandez and Yousef Saba ABU DHABI/PARIS, Nov 3 - TotalEnergies' TTEF.PA increasing inves...Reuters
Mon, Nov 3
PRESS DIGEST-Canada - November 3
Nov 3 (Reuters) - The following are the top stories from Canadian newspaper Globe and Mail. Reuters has not verified these stories and does not vouch for their accuracy.THE GLOBE AND MAIL- U.S. Treasury Secretary Scott Bessent has refused to rule out new tariffs on Canadian imports, escalating trade...Reuters
Mon, Nov 3
GRAINS-Soybeans touch 15-month high, wheat firm on Chinese demand hopes
Chicago soybeans hit highest since July 2024Hopes for Chinese demand after last week's Trump-Xi meetingChina also reportedly seeking U.S. wheatBy Naveen Thukral and Michael Hogan SINGAPORE/HAMBURG, Nov 3 (Reuters) - Chicago soybeans rose to 15-month highs on Monday on expectations China will ...Reuters
Mon, Nov 3
US government shutdown worsens financial woes for court-appointed defense lawyers
Shutdown impacts 12,000 US private lawyers for indigent defendantsCourts' ability to provide representation amid funding shortfall in question Sole practitioners face financial strain, may stop taking casesBy Nate Raymond Nov 3 (Reuters) - As the U.S. government shutdown disrupts paychecks ...Reuters
Mon, Nov 3
RPT-ROI-Big Oil gets big boost from escalating economic war on Russia: Bousso
Oil majors’ refining earnings rise sharply in Q3Russian fuel exports drop after months of attacks on its refineriesUS, European sanctions offer further boost to oil majorsBy Ron Bousso LONDON, Nov 3 (Reuters) - Top Western oil companies are enjoying a windfall from the expanding attacks on Russia...Reuters
Mon, Nov 3
LNG output from QatarEnergy's North Field expansion to start in second half 2026, CEO says
By Maha El Dahan ABU DHABI, Nov 3 (Reuters) - The CEO of QatarEnergy, one of the world's biggest liquefied natural gas producers, told Reuters on Monday that the company's massive North Field expansion project will produce its first LNG in the second half of 2026.The state-owned company s...Reuters
Mon, Nov 3
OPEC’s Al Ghais says oil demand outlook remains positive, no market surprises expected
ABU DHABI, Nov 3 (Reuters) - OPEC Secretary-General Haitham Al Ghais said on Monday that the group was still seeing positive signs for oil demand and did not expect any surprises in the market."We are making sure we maintain the supply demand balance", Ghais added at a panel at ADIPEC energy...Reuters
Mon, Nov 3
BP CEO expects non-OPEC+ oil supply growth to end by April
ABU DHABI, Nov 3 (Reuters) - Oil supply growth from countries outside of OPEC+ will end by April next year, BP's BP.L CEO said on Monday. BP CEO Murray Auchincloss added that he sees a long-term case for investment in oil and the industry has to expand in places such as Abu Dhabi, Iraq and Libya...Reuters
Mon, Nov 3
Spot Gold faces pressure on China VAT move – ING
Spot Gold comes under renewed pressure as China ends the VAT rebate for gold sales, raising costs for both investors and consumers, ING's commodity experts Ewa Manthey and Warren Patterson note, ING's commodity experts Ewa Manthey and Warren Patterson note.Fxstreet
Mon, Nov 3
Morgan Stanley lifts first-half 2026 Brent forecast to $60 due to Russia sanctions
Nov 3 (Reuters) - Morgan Stanley on Monday raised its Brent crude forecast for the first half of 2026 to $60 a barrel from $57.5, citing stronger demand for Brent-linked crudes following new U.S. and EU sanctions on Russian oil assets.The bank said the oil market surplus is expected to peak around t...Reuters
Mon, Nov 3
China seeks to buy US wheat for the first time in a year, Bloomberg News reports
Nov 3 (Reuters) - China is seeking to buy U.S. wheat for the first time in a year, Bloomberg News reported on Monday, days after the U.S. released details about the agreement that President Donald Trump reached with Chinese President Xi Jinping to de-escalate their countries' trade war.Reuters c...Reuters
Mon, Nov 3
Oil: OPEC+ signals a pause to supply increases – ING
As widely expected, OPEC+ announced another Oil supply increase of 137k b/d for December. However, the more interesting takeaway from the meeting was the group's decision to pause supply increases through the first quarter of next year, ING's commodity experts Ewa Manthey and Warren Patterson note.Fxstreet
Mon, Nov 3
QatarEnergy LNG output from North Field expansion to start in second half, says CEO
ABU DHABI, Nov 3 (Reuters) - QatarEnergy CEO Saad al-Kaabi told Reuters on Monday that the state-owned company's massive North Field expansion project will produce its first liquefied natural gas in the second half of 2026. The North Field expansion project is expected to produce 126 million met...Reuters
Mon, Nov 3
PRECIOUS-Gold gains on US interest rate expectations
US ADP employment data due on WednesdayDollar holds near three-month peakPlatinum up more than 2%By Brijesh Patel Nov 3 (Reuters) - Gold prices rose on Monday, helped by expectations of further U.S. interest rate cuts after comments from the U.S. Federal Reserve Board's Christopher Waller, th...Reuters
Mon, Nov 3
