Oil

USD/CAD – Canadian dollar dips to 2-week low as risk appetite softens

USD/CAD has edged higher in the Tuesday session. Currently, the pair is trading at 1.3328, up 0.24% on the day and at its highest level since January 7. On the release front, Canada publishes Manufacturing Sales, which has posted two declines in the past three months. The estimate for the November ...

Profit taking seen in light trading

US paring gains after bank holiday weekend The US returns from its long bank holiday weekend on Tuesday with stock market in profit taking mode, following four consecutive weeks of gains. It would appear that investors took advantage of light bank holiday trade on Monday to lock in some profits fol ...

Appetite for market risk is very low

Tuesday January 22: Five things the markets are talking about Appetite for risk in this holiday shorted week starts on the low side with Euro and Asia equities under pressure in their respective sessions, along with U.S futures, as an uncertain outlook for global trade and growth continues to inhib ...

Commodities Weekly: Gold struggles for upward momentum

Slower Chinese GDP growth in the fourth quarter and a resurgent US dollar have taken a bit of the shine off some commodities. NOTE: The US government shutdown is still preventing the publication of the weekly Commitment of Traders report by CFTC. The latest published data is only at December 18. Pr ...

Daily Markets Broadcast 2019-01-22

Daily Markets Broadcast 2019-01-22 US indices snap winning streak US equity markets were closed yesterday, but index futures retreated following the release of China’s Q4 GDP data. PM May’s Plan B appears to focus on delaying Brexit to get better concessions from the EU.   US30USD Daily Chart ...

Markets Rebound from China Slowdown on Trade Hopes

FX – Dollar not slowing down despite holiday and ongoing partial shutdown OIL – Energy Hit by China Slowdown But Trade Optimism Boosts Prices GOLD – Yellow metal falls on thin North American volumes FX – Dollar not slowing down despite holiday and ongoing partial shutdown The US dollar i ...

MEG Energy announces the timing of the release of its 2019 capital budget and conference call

CALGARY, Jan. 21, 2019 /CNW/ – MEG Energy Corp. (TSX:MEG) announces that it intends to release its 2019 capital budget at 5 a.m. Mountain Time (7 a.m. Eastern Time) on Tuesday, January 22, 2019. A conference call will be held to review the 2019 capital budget and outlook at 7:30 a.m. Mountain T ...

Oil Rises Despite Weak Chinese GDP Data

Oil prices edged up on Monday, reversing earlier losses, as investors shrugged off data that confirmed China’s slowing economy and instead latched on to positive supply-side drivers for the market. Brent crude oil futures LCOc1 were up 12 cents at $62.82 a barrel by 12:27 p.m. EST (1727 GMT), ...

Iraq’s Southern Oil Exports Hold Near Record In January

Oil exports from southern Iraq are holding close to a record high so far in 2019, according to shipping data and an industry source, which could raise questions over whether OPEC’s second-largest producer is following through on a deal to cut output. Southern Iraqi exports in the first 21 days of ...

As IMO 2020 lures newcomers to bunker sector, profit is far from guaranteed: Fuel for Thought

A pharmaceutical company’s ill-fated attempt to focus on trading bunker fuel derivatives highlights the unpredictability that IMO 2020 has injected into oil markets. Having sold off its opioids business the previous year, in early 2018, Norway’s Vistin Pharma announced it would set up a new oil ...