Market Pulse - Commodities
SDX Energy strikes oil at Egyptian concession
Oil and gas exploration and production company SDX Energy has made an oil discovery at its West Gharib Concession in Egypt, the company said on Wednesday.
Commodities: Precious metals glitter amid retreat in risk appetite
Commodities found a bid on Tuesday, amid dollar weakness following an in-line print on consumer prices Stateside earlier in the session and a generally 'risk-off' tone in markets after the White House announced that the Secretary of State had been asked to step down.
Antofagasta ups dividend 177% as strike action looms
Antofagasta increased its dividend 177% for last year as cash flow surged on the group's highest operating margin in five years, though the world’s largest copper producer is facing strike action at its Los Pelambres mine.
Saudi Aramco IPO likely to be delayed until 2019 - report
British officials have been informed that Saudi Aramco’s initial public offering is likely to be pushed back from the second half of 2018 until 2019.
Sirius Petroleum preps drill rig for delivery to Ororo wells
Nigeria-focused oil and gas exploration and development firm Sirius Petroleum has received preliminary location approval from the Marine Warranty Surveyor for its Ororo-2 and Ororo-3 wells, leading its international rig partner COSL to commence mobilisation of the jack-up rig for delivery straight to the African nation.
Argentine regulations usher in 'exciting new chapter' for Phoenix Resources
Phoenix Global Resources lauded the issue of new Unconventional Oil & Gas Regulations by the government of the Argentine province of Mendoza on Monday.
Empyrean to commence tests as equipment arrives at California site
Oil and gas development company Empyrean Energy announced on Monday that preparation is underway for testing at its onshore Dempsey 1-15 well in California.
Trump could win Democrats' support as Republicans consider blocking tariffs
Influential Democratic lawmaker Elizabeth Warren may tip the balance in favour of the White House’s planned international trade tariffs amid divisions within the Republican party on the measures.
Commodities: WTI jumps on weekly data showing dip in number of US oil rigs
Commodities received an unexpected boost from a weaker dollar at the end of the week, even in the face of a far larger than expected increase in the number of US non-farm payrolls.
Sector movers: Oilers, miners ride gains in underlying futures higher
Oilers and Miners paced gains at the end of the week as a solid US jobs report for the month of February stoked buying interest in copper and oil futures.
Chinese credit growth slowest since 2005 in February
The pace of credit growth in China slipped to its slowest rate since 2005, prompting some economists to forecast that Beijing would opt for a looser policy stance later in the year.
Renold warns of decreased profits from FY17 despite its 'good progress'
Engineered and power transmission products delivery group Renold warned of the impact that increased raw materials prices were having on its operating margins on Thursday, saying that its chain division, in particular, had suffered significant headwinds as a result.
Eurasia Mining makes early start at Russian platinum project
Eurasia Mining announced the commencement of site works at its West Kytlim Project on Friday, kicking off the 2018 field season.
SDX Energy hails gas discovery at Moroccan well
North Africa focused oil and gas company SDX Energy announced on Friday that it has made a gas discovery on one of its Moroccan projects.
Katoro shares dive on potential impact of new Tanzania laws
AIM-quoted exploration company Katoro Gold has been waiting to finalise a resource update and pre-feasibility study on its Tanzanian asset, putting particular focus on the potential impact of new mining legislation that was signed into law in the African nation in July 2017.
UK to apply for exemption from Trump's steel tariffs
Downing Street will ask the White House for an exemption to his sweeping tariffs on steel and aluminium imports to the United States after Donald Trump offered to show "great flexibility" to his "real friends".
Empyrean Energy to resume testing operations after well analysis
Oil and gas exploration company Empyrean Energy is due to resume testing operations on the Dempsey well in California later this month, the company said on Thursday.
China February trade surplus surprises sharply to the upside
Amid ongoing trade tensions globally, the latest international trade figures out of the People's Republic of China surprised sharply to the upside on Thursday.
Randgold says DRC's Kabila gave assurances on mining code
Randgold Resources said the president of the Democratic Republic of Congo (DRC) has assured mining companies that questions about their operations under the country's new mining code would be resolved, but only after the new law had been signed off.
US oil inventories drop despite jump in domestic output, DoE says
US oil product stockpiles fell last week despite a sharp rise in the country's imports of crude and a large increase in domestic output.