Commodities
Weir profit surges on stronger minerals and oil orders
Weir Group’s annual profit surged as orders rose at the FTSE 250 engineer’s minerals business and its oil and gas operation returned to profit amid resurgent market prices.
CO2 emissions rise and diesel sales plummet
CO2 emissions from new cars sold in the UK have risen by 0. 8% per new vehicle, the UK car industry claims.
Liquid natural gas to face supply shortage by mid-2020s - Shell
The global liquefied natural gas market has continued to defy expectations, according to Shell’s annual LNG outlook, which showed demand growing 11% to 293m tonnes last year.
Chinese steel futures surge on report of output curbs
China's top steel-making hub, the city of Tangshan, is set to propose new curbs on output in a bid to reduce pollution once the current measures in place expired in March, Reuters reported citing a draft document.
Commodities: DoE data boosts WTI futures, net oil imports lowest since 1992
Energy futures climbed on Thursday following the release of data showing a large drawdown in US stockpiles, which helped to buoy the entire complex.
BHP Billiton declares bumper dividend but productivity disappoints
BHP Billiton declared a bumper dividend after rising commodity prices drove strong profit growth in the first half of the miner’s financial year.
Nigerian Oil producers defy OPEC and are eager to pump more
Independent Nigerian drillers want to supply more crude, in defiance of OPEC and Russia's pact to restrict output and boost prices.
Commodities: Weaker dollar boon for WTI and COMEX gold futures
Commodities are higher across the board as the US dollar weakens, with lessened selling pressure on the back of the start of the Chinese Lunar New Year holidays an added factor in the case of base metals.
DoE reports rise in weekly US oil and gasoline inventories
US oil stocks jumped last week alongside a large build in gasoline inventories.
Forties North Sea oil pipeline back on-line after second breakdown
The North Sea’s Forties pipeline system that carries 40% of crude oil has begun flowing again after a short halt, the second in two months.
Commodities: DoE forecasts record US oil output in 2018
Commodities came under moderate selling pressure on Tuesday, even as most analysts appeared to be sanguine that the recent stockmarket rout would globally eventually wind down.
BP profit surges in fourth quarter to beat forecasts
BP's profit surged to $2. 1bn (£1. 5bn) in the fourth quarter from $400m a year earlier as the oil company gained from rising production.
Commodities: Hedge funds, money managers trimmed net long crude positions
Industrial metals edged lower on Friday, as a stronger-than-expected US jobs report sent the US dollar higher and weighed on prices.
Crop-based biofuels are likely to go out of use
Biofuels could fall out of favour as governments lean towards cleaner sources of energy and hand out less financial support, thinks Capital Economics.
Commodities: Energy, metals benefit from strong demand, weak US dollar
Metals gained modestly on London Metal Exchange on Thursday, oil prices rose and gold's relationship with the dollar outweighed that with Treasury yields.
Commodities: Base metal prices supported by PMI data, soft USD
Oil prices fell on Wednesday, as the US crude inventories rose by 6. 8m barrels last week, compared with a rise of 900,000 barrels expected by analysts. This is the first build in eleven weeks.