U.S. oil slumps as China threatens duty on U.S. crude imports

By Henning Gloystein SINGAPORE, June 18 : U.S. oil prices slumped on Monday after China threatened duties on American crude imports in an escalating trade dispute with Washington. U.S. West Texas Intermediate (WTI) crude futures were at $63.84 a barrel, down $1.22, or 1.9 percent, from their last settlement. In an escalating spat over the […]

Wheat falls on high supplies, soy sets 10-month low

By Nigel Hunt LONDON, June 14 : Chicago wheat futures fell on Thursday on long liquidation by funds against the backdrop of surplus supplies while soybean prices sank to a 10-month low as heightened concerns over relations between Washington and Beijing weighed on the market. The Chicago Board of Trade’s most-active wheat contract was down […]

Nickel and zinc rise as China’s construction sector recovers

By Peter Hobson LONDON, May 29 : Rising steel prices in China helped to boost steelmaking ingredients zinc and nickel on Tuesday despite a stronger dollar making metals more expensive for buyers with other currencies. China is the world’s biggest steel producer and a seasonal recovery in construction activity has driven prices higher, with steel […]

Oil prices tumble as hedge funds quit crude: Kemp

By John Kemp LONDON, May 29 : Hedge fund managers were busy reducing bullish positions in petroleum well before OPEC and its allies indicated in the middle of last week that they would consider relaxing output curbs. Hedge funds and other money managers reduced their net long position in the six major petroleum futures and […]

Oil prices slump as OPEC and Russia consider output boost

By Stephanie Kelly NEW YORK, May 26 : Oil prices fell more than $2 per barrel on Friday as Saudi Arabia and Russia discussed easing production cuts that have helped push crude prices to their highest since 2014. Brent crude futures fell $2.35, or 3 percent, to settle at $76.44 a barrel. The global benchmark […]

Oil prices hit highest in years as markets adjust to looming sanctions on Iran

By Henning Gloystein SINGAPORE, May 10 : Oil prices clocked up more multi-year highs on Thursday as traders adjusted to the prospects of renewed U.S. sanctions against major crude exporter Iran amid an already tightening market. The United States plans to impose new sanctions against Iran, which produces around 4 percent of global oil supplies, […]