USD: US calendar may take a back seatFX markets open up in a steady fashion after Friday’s volatility. That session can largely be characterised as investors shifting to more defensive positioning ahead of the French election risk later this month.…
The dollar held firm on Monday, while the euro traded around more than one-month lows, as political turmoil in Europe ramped up the level of uncertainty among traders, while investors awaited more data to gauge the strength of the U.S.…
Iraq’s oil ministry said it is fully committed to compensating for any crude oil overproduction in 2024, referencing estimates by secondary sources of overproduction by 203,000 barrels in May above levels agreed with OPEC+. The ministry “is committed to the…
Kazakhstan plans to submit its revised plan to compensate for producing above its OPEC+ crude quota in 2024 in the coming days, the energy ministry said in a statement posted on Instagram June 12. Sluggish oil prices continue to put…
Saudi Arabia began preparing more than a year ago to sell a new chunk of state oil giant Aramco 2222.SE, targeting foreign investment that has lagged goals for years and is needed for an ambitious economic transformation. The preparations led…
The world is facing a major oil capacity glut in the current decade that could trigger lower prices and test OPEC’s market control as global oil demand peaks, the International Energy Agency said June 12. Global oil demand, including biofuels,…
The U.S. Department of Agriculture (USDA) on Wednesday cut its projection for U.S. sugar stocks-to-use ratio, a key indicator of the supply level, to 11.5% for the 2024/25 season from 11.7% last month as estimates for sugar production in the…
Non-commercial market participants reduced their net long position in Euronext’s milling wheat futures and options in the week to June 7, data published by Euronext on Wednesday showed. Non-commercial participants, which include investment funds and financial institutions, reduced their net…
Malaysia has maintained its July export tax for crude palm oil at 8%and loweredits reference price, a circular on the Malaysian Palm Oil Board website showed on Wednesday. The world’s second-largest palm exporter calculated a reference price of 3,839.63 ringgit…
Western Canadian wheat prices ended a nine-day decline June 11, but the overall lower price trend continued amid reduced demand for forward shipments out of Vancouver in recent sessions. “Asian demand is lacking and are awaiting falling prices, pushing exporters…