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January 16, 2021

Commodities News (3rd Party)

Alibaba’s Cainiao launches container booking service, cites global cargo woes

Reuters
FILE PHOTO: Cainiao’s logo, Alibaba’s logistics unit, is seen at the warehouse in Wuxi, Jiangsu province, China October 26, 2020. REUTERS/Aly Song SHANGHAI (Reuters) – Alibaba Group’s Cainiao launched a container booking service for air and sea freight on Thursday, and said the move was in response to a global......

Companies must set climate targets in line with science – executives

Reuters
By Susanna Twidale, Nina Chestney LONDON (Reuters) – Companies must listen to scientists and align their plans to reach net zero targets with a global pact to fight climate change, executives told a Reuters Next conference on Monday. FILE PHOTO: Smoke and steam billow from the Belchatow Power Station, Europe’s......

OPEC crude output cuts should help U.S. shale profits in 2021

Reuters
HOUSTON (Reuters) – A decision by OPEC and allied countries to cut crude production through March delivered a late Christmas present for U.S. shale firms that have slashed costs, but any rise in prices spurred by the unexpected move may be just a modest stocking stuffer. FILE PHOTO: A Marathon......

Buildings shake as deep quake hits Taiwan, but no damage reported

Reuters
TAIPEI (Reuters) – Buildings shook briefly in Taipei on Saturday as a deep, 5.7 magnitude earthquake struck off the northeastern coast of Taiwan, but there were no reports of damage. The quake’s epicentre was just off the coast of Yilan county, at a depth of 72.2 km (44.9 miles), according......

Ukraine’s average temperature rises to record in 2020

Reuters
FILE PHOTO: A combine harvests wheat in a field near the village of Hrebeni in Kyiv region, Ukraine July 17, 2020. REUTERS/Valentyn Ogirenko KYIV (Reuters) – Ukraine’s average annual air temperature in 2020 exceeded the average long-term level by 2.2 degrees Celsius and reached a record high 10.7 degrees, Ukrainian......

Asian shares fall amid uncertainty about Georgia senate runoff

Reuters
TOKYO (Reuters) – Asian shares edged lower on Tuesday amid uncertainty about Senate runoffs in Georgia, which could have a big impact on incoming U.S. President Joe Biden’s economic policies. TV camera men wait for the opening of market in front of a large screen showing stock prices at the......

World stocks ring in new year with record highs

Reuters
LONDON (Reuters) – World stock markets hit record highs on Monday, the first trading day of the new year, as investors hoped the rollout of vaccines would ultimately lift a global economy decimated by the COVID-19 pandemic. The Chinese yuan surged nearly 1% against the dollar, while the greenback plumbed......

‘Pivotal moment’ as Britain set to roll out AstraZeneca vaccine

Reuters
LONDON (Reuters) – Britain will become the first country to roll out the low cost and easily transportable AstraZeneca and Oxford University COVID-19 vaccine on Monday, another step forward in the global response to the pandemic. FILE PHOTO: A dose of the Oxford University/AstraZeneca COVID-19 vaccine is displayed at the......

Mexico farm lobby blasts ban on GMO corn; organic growers welcome it

Reuters
MONTERREY, Mexico (Reuters) – Mexico’s main agricultural lobby on Saturday criticized the government’s decision to ban genetically modified corn, while organic growers hailed the move that should protect smaller farmers. FILE PHOTO: A farmer holds different types of corn cobs in Otzolotepec, on the outskirts of Mexico City, February 7,......

A (markets) journal of the plague year

Reuters
By Marc Jones, Ritvik Carvalho LONDON (Reuters) – Last December, the first infection with the new coronavirus was reported to the World Health Organization. Twelve months later, as the charts below show, global financial markets have been on a roller coaster like no other. FILE PHOTO: A trader walks past......

Global Markets: European shares end 2020 in a slump

Reuters
LONDON (Reuters) – European shares fell on Thursday as lockdowns and rising COVID-19 cases overshadowed the optimism around the rollout of vaccines in the New Year, while the dollar fell to a two-and-a-half-year low. Traders from BGC, a global brokerage company in London’s Canary Wharf financial centre react as European......

Vaccines, stimulus set tone for 2021 as year ends on bullish note

Reuters
By Naveen Thukral, Gavin Maguire SINGAPORE (Reuters) – Global commodity markets are poised to end 2020 on a strong note, with recovering demand and widespread stimulus packages buoying prices after a roller coaster ride caused by the global coronavirus pandemic. FILE PHOTO: A fisherman rows his dinghy past oil refineries......

Oil set for 20% drop in 2020 as lockdowns weigh, market eyes more stimulus

Reuters
SINGAPORE (Reuters) – Global crude oil markets have lost about a fifth of their value in 2020 as strict coronavirus lockdowns paralysed much of the global economy, but prices have rebounded strongly from their lows as governments rolled out stimulus. FILE PHOTO: 3D printed oil barrels and percentage symbols are......

Oil set for 20% drop in 2020 as lockdowns weigh, market eyes more stimulus

Reuters
SINGAPORE (Reuters) – Global crude oil markets have lost about a fifth of their value in 2020 as strict coronavirus lockdowns paralysed much of the global economy, but prices have rebounded strongly from their lows as governments rolled out stimulus. FILE PHOTO: 3D printed oil barrels and percentage symbols are......

Oil set for 20% drop in 2020 as lockdowns weigh

Reuters
FILE PHOTO: 3D printed oil barrels and percentage symbols are seen in front of dollar banknotes in this illustration taken May 25, 2020. REUTERS/Dado Ruvic/Illustration SINGAPORE (Reuters) – Global crude oil markets have lost about a fifth of their value in 2020 as strict coronavirus lockdowns paralyzed much of the......

Dollar lifts gold amid worries over U.S. stimulus delay

Reuters
(Reuters) – Gold inched higher on Wednesday as the dollar eased, while investors weighed a top U.S. Republican leader’s decision to postpone a vote on increased pandemic relief payments. FILE PHOTO: Gold bars are pictured on display at Korea Gold Exchange in Seoul, South Korea, August 6, 2020. REUTERS/Kim Hong-Ji/File......

Oil rises on hopes of recovery in fuel demand

Reuters
SINGAPORE (Reuters) – Oil prices gained more ground on Wednesday as a U.S. coronavirus fiscal aid package and expectations of global economic recovery lifted hopes for higher fuel demand. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S.,......

Oil rises on hopes of recovery in fuel demand

Reuters
SINGAPORE (Reuters) – Oil prices gained more ground on Wednesday as a U.S. coronavirus fiscal aid package and expectations of global economic recovery lifted hopes for higher fuel demand. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S.,......

Oil rises on hopes of recovery in fuel demand

Reuters
SINGAPORE (Reuters) – Oil prices gained more ground on Wednesday as a U.S. coronavirus fiscal aid package and expectations of global economic recovery lifted hopes for higher fuel demand. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S.,......

Gold rises as dollar dips on prospect of higher U.S. aid

Reuters
(Reuters) – Gold prices rose on Tuesday as the dollar weakened after the approval of larger coronavirus relief checks by Democratic-led U.S. House of Representatives, while improved risk appetite kept it below last session’s one-week high. FILE PHOTO: A vendor shows gold stud earrings at a jewellery showroom in Colombo,......

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