Samsung Electronics Co Ltd reported a likely 53 percent increase in second-quarter operating profit on Wednesday. This is a step up on market expectations due to solid chip prices and demand despite lower smartphone sales. The preliminary result is up 33% from the first quarter, highlighting the soaring demand for chips with depleted stockpiles due …
Gold was higher on Wednesday morning in Asia after scoring a three-week high throughout the previous session. A weakening dollar also gave the yellow metal a lift as investors anticipate the U.S. Federal Reserve’s latest policy meeting minutes. Gold futures were higher 0.25% to $1,798.60 by 12:41 AM ET after rising to their highest level …
Crude prices are witnessing some volatility after an initial spike but backtracked slightly on Monday. Brent futures slid 0.11% to $76.09 per barrel, while U.S. crude futures fell 0.13% to $75.06 per barrel. The energy alliance, often introduced as OPEC+, will convene again on Monday. This comes after disappointing to reach a deal twice last …
India’s factory activity dropped for the first time in almost a year in June. Restrictions to contain the deadly second wave of the COVID-19 triggered slumps in demand and output. Remarkably, that pushed companies to cut more jobs. As we know, many Indian states have recently relaxed some containment measures following a fall in daily …
India’s factory activity falls for the first time in a year Read More »
Oil prices trimmed higher on Thursday, boosted by lower U.S. inventories. Investors paused for a decision from key producers on whether they would keep or reduce supply cuts in the second half of the year. Brent crude oil for September increased 15 cents, or 0.2%, to $74.77 a barrel by 0629 GMT, while the U.S. …
Oil was higher Wednesday morning in Asia after the Organization of the Petroleum Exporting Countries and partners (OPEC+) paused talks ahead of its ministerial meeting to review production policy, taking place on Thursday. Brent oil futures increased 0.61% to $74.73 by 10:39 PM ET (2:39 AM GMT) and WTI futures surged 0.69% to $73.48. Some …
Gold went for the most significant monthly decline in longer than four years following the Federal Reserve sped up their anticipated pace of policy tightening, transferring prices tumbling under $1,800 an ounce. The increase in U.S. stocks to a new record and a resurgent dollar has also counted on the precious metal. Investors are also …
Oil was falling Monday morning in Asia after rising to levels last witnessed in October 2018. Negotiations within the U.S. and Iran on improving a nuclear deal are ready to proceed. At the same time, the Organization of the Petroleum Exporting Countries and partners (OPEC+) will attend later in the week. Brent oil futures were …
Oil prices crept higher on Friday and were on course for a fifth continuing weekly gain. This was due to expectations that demand increase would exceed supply, and OPEC+ producers would be careful in returning more product to the market from August. Brent was up 4 cents, or 0.1%, at $75.60 a barrel at 0854 …
China has published details of its first round of auctions of non-ferrous metals from its state reserves. The market response was underwhelming at best. The National Food and Strategic Reserves Administration stated that it would auction 20,000 tonnes of copper, 30,000 tonnes of zinc, and 50,000 tonnes of aluminum on July 5-6. The unique auction …
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On a recent spring morning, coal mine operator Dale Murray was atop a stretch of land in western Virginia that had been slept flat by mountaintop strip mining. He appreciated the panoramic view it afforded of the surrounding Appalachian hills. Murray’s company CM Mining acquired the thousands of acres of former mining land from Alpha …
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Canada has set determined targets for cutting emissions to combat climate change. However, it suffers a stiff challenge: not only is its economy reliant on oil production, but the Canadian oil industry’s carbon emissions are between the world’s highest for every barrel of oil it pumps. The Canadian oil patch represents the most vexing problem …
Oil prices were mostly steady on Monday on growing demand in the northern hemisphere’s summer driving season. Still, traders propped for a return of Iranian crude supplies, notwithstanding a pause in talks to end U.S. sanctions. Brent crude for August fell 24 cents, or 0.3%, to $73.27 a barrel by 1255 GMT. U.S. West Texas …
Oil prices dropped for a second continuous session on Friday. The U.S. Dollar rose on the prospect of interest rate hikes in the United States. However, they were on course to end the week. Limited changed and only slightly off multi-year highs. Brent crude futures were under 52 cents, or 0.7%, at $72.56 a barrel …
Crude oil prices flew near multi-year highs on Thursday. They were buoyed by declining U.S. crude inventories, limiting the impact of a stronger U.S. dollar. Brent crude oil futures fell 12 cents, or 0.1%, to $74.27 a barrel by 1332 GMT. They score their highest after April 2019 in the past session. U.S. crude oil …
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