Commodities

Oil soars over 10 pct, biggest gain in six years as shorts scramble

NEW YORK (Reuters) -- Oil rocketed more than 10 percent higher on Thursday, posting its biggest one-day rally in over six years as recovering equity markets and news of diminished crude supplies set off a short-covering scramble by bearish traders. ...

  • Commodities eye

    Take USDA grains report with pinch of salt

    The outlook for grains and oilseeds took a further bearish hue recently with estimates for corn, wheat and soybean output that were well above market expectations. The hike in expected crop production levels by the U.S. department of Agriculture caus...

  • Vedanta

    Company closing eastern India aluminum refinery as prices slump

    NEW DELHI (NewsRise) -- Vedanta, the mining and energy group controlled by billionaire Anil Agarwal, said it is "left with no choice" but to gradually shut down an aluminum refinery in eastern India, as it grapples with a slump in prices and shortage...

  • Nikkei interview

    Crude could rebound to lower $50 range

    TOKYO -- Crude oil prices are accelerating their declines, with West Texas Intermediate futures in New York plunging to their lowest level in six and a half years. Swelling oil inventories have been playing a part, as have persistent concern...

  • Despite depressed prices

    Aluminum, nickel production holding up

    TOKYO -- Global production of aluminum and nickel is showing no signs of trending down, even though prices for these nonferrous metals are at their lowest levels in about six years. The main factors keeping aluminum output from sinking are increa...

  • Oil rebounds after sharp losses, but China worries weigh

    SINGAPORE (Reuters) -- Crude oil markets recovered more than a percent on Tuesday after a sharp drop in the prior session, although prices held near 6-1/2-year lows as continued weakness in Chinese equities triggered fears of an economic tailspin in ...

  • Global commodity prices

    Crude oil, copper keep plunging as speculators flee, China sinks

    TOKYO -- Commodity prices continue falling worldwide, with a key index tracking international products sliding to its lowest level in more than 12 and a half years. The sharp declines in crude oil, copper and other commodities reflect sensitivity...

  • Enduring glut

    Oil seen as staying cheap for the long term

    LONDON/DUBAI -- More people are becoming resigned to the prospect that crude oil will trade at depressed prices for a long stretch, with prices sliding Monday to levels not seen in roughly 6 1/2 years. Benchmark West Texas Intermediate sank to th...

  • PTT concern

    Lifting Iran sanctions will worsen oil glut

    BANGKOK -- Iran is a "wild card" in the global oil supply with the potential to aggravate gluts when sanctions imposed by the U.S. and Europe are lifted, according to Pailin Chuchottaworn, chief executive of Thailand's state-owned energy conglomerate...

  • End of supercycle

    Plummeting commodity prices could put emerging economies at risk

    TOKYO -- After a decade on the rise, commodity prices are entering a correction phase. The prices for copper, iron ore and gold have been on a downward trend after they peaked in 2011. After geopolitical risks in the Middle East and Russia spurred cr...

  • Commodities markets tumble as investors dump risky assets on China weakness

    SINGAPORE (Reuters) -- Commodities markets tumbled on Monday as fears spread that a more severe slowdown in China would pull down other economies in the region, denting energy and raw material consumption. Chinese stocks dived more than 8 percent o...

  • Asia rout deepens, Tokyo stocks plunge

    WELLINGTON/SHANGHAI (Dow Jones) -- Markets throughout Asia fell Monday, as fears about the deepening effects of China's slowdown rattle investors across the globe. A number of currencies in the region fell to multiyear lows, with shares in China do...

  • Brent, U.S. oil mark fresh 6-1/2-year lows on China, oversupply

    SEOUL (Reuters) -- Brent and U.S. crude oil futures hit their fresh 6-1/2-year lows on Monday as investors continue to worry about weak demand as China's economy slows amid a global supply surplus. Brent oil lost 44 cents at $45.02 a barrel as of 0...

  • Oil ends down more than 2% as US drilling points to glut

    NEW YORK (Reuters) -- U.S. oil prices traded below $40 a barrel for the first time since the 2009 financial crisis, ending 2 percent lower on Friday on signs of U.S. oversupply and weak Chinese manufacturing and notching the longest weekly losing str...

  • Commodity slide

    Plunge in copper prices signals Chinese slowdown

    TOKYO -- The price of copper futures sank below $5,000 per ton in London Tuesday, falling to six-year low levels, as concerns over China's economic slowdown deepened. Copper held at warehouses monitored by the London Metal Exchange totaled 353,62...

  • $40 a barrel looms

    Crude oil keeps seeking bottom amid supply glut

    TOKYO -- Crude oil prices are nearing the $40 a barrel mark as U.S. shale oil, a strong dollar and emerging-market slowdowns all contribute to global oversupply. Oil prices have fallen by more than half over the past year. Benchmark West Texas In...

  • Deteriorating ethylene market

    China imbalance affecting Japan producers

    TOKYO -- The spot price of ethylene, a raw material used to make petrochemical products, is standing at a six-month low of around $950 a ton in East Asia, down 30% from its June high. Declining crude oil prices is no longer the single reason. A decre...

  • Tepid textile demand

    Glut, cheaper crude weigh on prices of synthetic fiber

    TOKYO -- Asian prices of synthetic fibers are falling as a result of an industry oversupply and cheaper crude oil. The spot price of polyester filament is currently around $1.31 per kilogram, while polyester staple fiber is selling for around $1....

  • Commodities

    Yuan risk looms over grain prices

    TOKYO -- Growing concerns about the depreciation of currencies against the dollar since the yuan's devaluation are putting downward pressure on international grain prices. Soybean futures on the bellwether Chicago Board of Trade closed at $9.93 a...

  • US oil slides to 6-1/2 year low under $42 as stocks build

    NEW YORK (Reuters) -- U.S. oil prices tumbled more than 3 percent to a 6-1/2-year low under $42 a barrel on Thursday as data showing a big rise in key U.S. stockpiles intensified worries over a growing global glut. A rise in the dollar, after new...