Asian stocks pulled back sharply on Monday, as investors fretted about the relentless slide in energy prices and declining manufacturing sentiment in Japan. Also in focus was a hostage incident in Sydney.» Read More
HOUSTON, Dec 4- Kinder Morgan Inc might export condensate as part of a resurrected plan to move Texas crude to Southern California via a converted natural gas pipeline, energy intelligence firm Genscape Inc reported in a blog post on Thursday. It would be the first major crude pipeline from Texas into California, giving the Golden State access to cheaper inland...
*U.S. light oil exports to Asia only started 4 months ago. SINGAPORE, Dec 1- An aggressive strategy by Mideast Gulf producers to exploit the lowest oil prices in five years to defend market share is showing signs of bearing fruit as U.S. crude exports to Asia grind to halt. Last week Ali al-Naimi, the oil minister of OPEC kingpin Saudi Arabia, warned his fellow OPEC...
*U.S. light oil exports to Asia only started 4 months ago. SINGAPORE, Dec 1- U.S. crude exports to Asia are grinding to a halt just four months after they began, in a sign of how an aggressive strategy by Gulf producers to defend their market share is starting to bear fruit. The move shows how the Organization of the Petroleum Exporting Countries, with its influential...
Some of the names on the move ahead of the open.
Take a look at some of Friday's midday movers:
Asian equity markets were mixed, as traders reacted to key economic data from Japan and China. Declining commodity prices also weighed on resource-heavy bourses in the region.
Wednesday's trading session saw a mixed picture in Asia, with Tokyo shares stealing the limelight to finish at a 7-year high.
Iron ore prices have dived this year and there's no respite ahead for the metal, according to Citi, which forecasts double-digit declines in 2015.
TORONTO, Nov 10- Global mining companies stung by slumping commodity prices are looking forward to a modest consolation prize- weaker local currencies and falling oil prices that will help trim their costs. "It's definitely a silver lining," said Chris Mancini, analyst at Gabelli Gold Fund. Agnico Eagle Mines Ltd, which produces two-thirds of its gold in Canada,...
The Commerce Department's approvals to Pioneer Natural Resources Co and Enterprise Product Partners LP this year were issued as private letters, which makes it hard for other drillers to discern exactly what petroleum the government considers legal. Products, unlike crude, are exempt from the ban that Congress passed after the Arab oil embargo of the 1970 s.
SINGAPORE, Nov 6- Asian buyers of condensate said they would be wary of taking cargoes of the ultra-light oil that BHP Billiton Ltd plans to export from the Gulf of Mexico without explicit approval from the U.S. government. South Korea's GS Caltex and Japan's Cosmo Oil Co were the first Asian refiners to buy U.S. condensate after the United States relaxed a 40- year...
RIO DE JANEIRO, Oct 30- Vale posted a surprise $1.44 billion loss, and its shares tumbled to a 5-1/ 2- year low as investors worried about the cost of the Brazilian miner's expansion plans and a possible cut to its dividend in a new era of lower iron ore prices. Vale SA cited low iron ore prices and a weak local currency for the third-quarter loss. Vale is attempting to...
Rio Tinto said a strong third quarter and productivity gains led to a 12 percent rise in iron ore production as price volatility persists.
The mooted takeover of mining giant Rio Tinto by upstart Glencore may, in the way of other mining mergers, never happen.
Some of Monday's midday movers.
Traders are also watching Brazil after its election surprise.
BHP Billiton aims to cut its iron ore production costs by more than 25 percent and squeeze more tons from its mines as it aims to overtake Rio Tinto.
BHP Billiton freezes pay for its executives and management team, as the downturn across the mining sector continues. The Financial Times reports.
Iron ore prices continue to drop, leaving investors with a key question: how much worse will things get before they improve?
Plans by top iron ore miners to knock out high-cost rivals with a flood of cheap ore have had some success, but are meeting resistance in China.