MARKET PULSE - COMMODITIES
23 Jun
US oil rig count keeps climbing, Baker Hughes says
Oil mining

The number of oil rigs in operation in the US continued to climb last week, increasing by 11 to 758, according to the results of the most widely-followed survey tracking them.

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23 Jun
Commodities: Safe-haven gold likely to remain supported going forward
Gold bars

Gold is front and centre on traders' charts with some picking the safe-haven asset will remain supported going forward thanks to a platter of political risk in both UK and Washington, as well as the global oil glut.

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23 Jun
Rio Tinto completes bond tender, redemption exercise
Rio Tinto, mining, diamond mine in Zimbabwe

Rio Tinto said it had completed its bond tender and redemption exercises and had cut gross debt by a further $2. 5bn (£1. 97bn).

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23 Jun
Credit Suisse boosts 'Blue Sky' target price on meaner, leaner, fitter Shell

A "meaner, leaner and fitter" Royal Dutch Shell may emerge as soon as the outfit's second quarter results, with positive implications for its dividend, said analysts at Credit Suisse as they added the shares to their European Focus List.

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22 Jun
Commodities: Crude gets a Thursday fillip higher, but downside risk remains
Nodding donkeys, pumpjacks, oil & gas, drilling

Prices of crude oil got a Thursday fillip higher as investors took some note of recent falls in US inventories, but nonetheless remain mindful of the black liquid's potential for further declines.

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22 Jun
Trans-Siberian Gold inks second debt facility at reduced cost
Gold bars

Trans-Siberian Gold clinched a second debt facility at a reduced cost.

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22 Jun
Deutsche Bank cautious on EMEA miners, Rio Tinto still top-pick
Rio Tinto train in the Pilbara region of Western Australia; mining

Deutsche Bank reiterated a 'neutral' view on the European, Middle East & Asia mining sector, telling clients they were cautious given the modest deterioration seen in macro indicators for the sector.

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21 Jun
Commodities: Crude extends gains as EIA confirms US stores drop
Nighthawk Energy nodding donkey, oil & gas

Crude-oil futures got a mild shove on a sun-soaked Wednesday afternoon in London as fresh official data showed a draw in US stores of the black liquid last week.

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21 Jun
Macquarie cuts Brent price forecasts, says OPEC has few options
Oil rig in Algeria, oil & gas, energy

Macquarie slashed its forecasts for the average price of Brent, predicting that too much oil will be produced, loaded and marketed around the world until 2020.

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21 Jun
US crude oil inventories fall for a second week
BP, oil, gas

Crude oil inventories in the States shrank for a second week in a row alongside a drop in gasoline stockpiles, official data showed.

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20 Jun
Commodities: Crude plunges on burgeoning Libya, Nigeria output
barrel

Crude-oil futures went for a skate lower on Tuesday as traders sold the black liquid aggressively on renewed fears of oversupply, this stoked by burgeoning output from Libya and Nigeria and also US shale pumping concerns.

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20 Jun
Brent crude oil futures testing key level of technical support
BP, oil, gas

Crude oil futures' grip on a key level of technical support was being tested ahead of the release of key industry data on the state of US inventories.

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20 Jun
Investec keeps Barclays at 'buy' after SFO ruling
barclays-devant-la-justice-britannique-dans-l-affaire-libor

Analysts at Investec reiterated their 'buy' stance and target price on shares of Barclays after the Serious Fraud Office charged four former top executives for 'fraud' and the lender itself with two offences of conspiring to commit fraud and on one account of unlawful financial assistance.

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20 Jun
OPEC goal of cutting global oil inventories will remain elusive, Morgan Stanley says
opec

The Organisation of Petroleum Exporting Countries' stated aim of cutting excess global oil inventories is likely to prove elusive for some time to come, Morgan Stanley said.

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19 Jun
Oilex announces receipt of cash calls worth $1.41m gross
exploration well, oil & gas

Oilex, the oil and gas exploration and production company announced Monday "material progress" having received outstanding cash calls of approximately $1. 41m gross owed to the Cambay and Bhandut production sharing contracts (PSCs).

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19 Jun
Citi cuts iron ore price forecasts
mining truck, commodities, minerals, iron ore

Analysts at Citi lowered their forecasts for the price of iron ore over the next twelve months, telling clients that lower prices were needed in order for the market to re-balance and in anticipation of waning Chinese growth.

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19 Jun
Japanese seasonally adjusted trade surplus slips in May
BoJ

Japanese exports and imports failed to rebound in May, suggesting that foreign demand acted as a drag on the broader economy during the second quarter, but some economists were nevertheless optimistic.

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16 Jun
Commodities: Crude steals cautiously higher as market looks ahead to rig-count data
BP oil rig offshore Azerbaijan; oil & gas

Crude-oil futures stole cautiously ahead Friday as the market awaits Baker Hughes rig data this afternoon, and despite the overall bearish sentiment surround the black liquid.

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15 Jun
Commodities: Gold, silver decline as UK, US central banks set hawkish tones
bank of england

Precious metals gold and silver went for a run south on Thursday with each hitting multi-week lows as markets mulled more hawkish stances from the Bank of England and US Federal Reserve.

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15 Jun
Reliance Industries, BP progress on developing gas fields offshore India
india

BP and Reliance Industries announced they were taking the next step to develop the massive natural gas fields offshore eastern India.

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