Commodities News

Latest News

  • Halliburton, Baker Hughes call off merger

    US oil services companies Halliburton and Baker Hughes have called off their proposed $34.6 billion merger

  • The aborted merger of oilfield services provider Halliburton (HAL.N) and smaller rival Baker Hughes (BHI.N) had raised significant competition concerns in Europe, EU Commissioner Margrethe Vestager said on Monday. The Commission said it took note of the companies' announcement that they had abandoned their proposed merger, …

  • Oil prices fall on rising OPEC crude production Reuters - 1 hour 29 minutes ago
    Fuel pumps are pictured at a Neste Oil gas station in Adazi

    SINGAPORE/KITAKYUSHU (Reuters) - Oil prices fell on Monday as rising production in the Middle East outweighed a decline in the U.S. output and a sliding dollar, while Morgan Stanley warned that an emerging gasoline glut could also spill back into crude markets. Analysts said rising output from the Organization of the Petroleum …

  • Asian shares slip, Nikkei skids on yen strength Reuters - 2 hours 8 minutes ago
    Employees of the Tokyo Stock Exchange (TSE) work at the bourse in Tokyo,

    Asian shares fell on Monday, led by a plunge in Japan's Nikkei after the dollar notched a fresh 18-month low against the yen. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4 percent, after Wall Street marked losses following a spate of disappointing earnings.

  • Now, the oil and gas company is among the first casualties of the energy slump to exit bankruptcy and Evans has a message for its peers: even once you are debt-free you cannot take survival for granted if energy prices do not recover soon. With little chance of seeing hundreds of millions of dollars in debt repaid, creditors …

  • FILE - In a Nov. 18, 2014 file photo, Halliburton Chairman, President and CEO David Lesar, third from right, rings the New York Stock Exchange opening bell. Halliburton and Baker Hughes, two companies crucial to the business of U.S. energy exploration, have abandoned their planned $34 billion merger, the Justice Department said Sunday, May 1, 2016. The department filed suit April 6 to block the merger. (AP Photo/Richard Drew, File)

    WASHINGTON (AP) — Two companies crucial to the business of U.S. energy exploration have abandoned their planned $34 billion merger, the Justice Department said Sunday.

  • It is the latest example of a large merger deal failing to make it to the finish line because of antitrust hurdles. "Challenges in obtaining remaining regulatory approvals and general industry conditions that severely damaged deal economics led to the conclusion that termination is the best course of action," said Dave …

  • The flurry of dealing kicked off when prices pierced $45 (31 pounds) per barrel earlier in April. While it was not clear if oil prices will remain at current levels, it may also be a sign producers are preparing to add rigs and ramp up output. This week, Pioneer Natural Resources Co, a major producer in the Permian shale …

  • The Australian government is expected to announce a A$5 billion (2.6 billion pounds) fund for major public transport projects as part of its federal budget, a spending plan under more scrutiny than usual as it doubles as an unofficial election campaign launch. Treasurer Scott Morrison, presenting his rookie budget on Tuesday, …

  • Correction: Venezuela-Minimum Wage story Associated Press - 6 hours ago
    File-This April 19, 2016, file photo shows Venezuela’s President Nicolas Maduro greeting supporters upon his arrival to Bolivar Square to celebrate the 206th anniversary of the call for independence from Spain, in Caracas, Venezuela.  The president is ordering a 30 percent increase in the minimum wage, the latest move by the socialist government to grapple with high inflation and economic stagnation. The boost announced Saturday, April 30, 2016, by Maduro comes after a 25 percent increase on March 1. (AP Photo/Fernando Llano, File)

    CARACAS, Venezuela (AP) — In a story April 30 about (topic), The Associated Press reported erroneously that the black market value of the new wage is about $50. The black market value is about $13.50.

  • Virgin planes are parked next to each other at Kingsford Smith airport in Sydney

    Virgin Australia Holdings Ltd, the country's No. 2 airline, on Monday blamed uncertainty about an upcoming Federal election and weak consumer demand as it warned that it will cut capacity for the remainder of fiscal 2016. The airline said underlying pre-tax profit jumped 16.2 percent to A$18.6 million ($14.17 million) …

  • A VW emblem is pictured on a Volkswagen car in a delivery tower at the plant of German carmaker in Wolfsburg

    Qatar's sovereign wealth fund is reducing its focus on investments in Europe and placing more of its money with external managers following an internal review, sources familiar with the matter told Reuters. Qatar Investment Authority, estimated by industry tracker Sovereign Wealth Fund Institute to hold $256 billion (£175.2 …

  • DUBAI, United Arab Emirates (AP) — Qatar's largest bank acknowledged Sunday that some personal customer data that was leaked online may be authentic, and said it has hired an outside expert to review potential vulnerabilities to its computer systems.

  • German industrial output is expected to increase at a faster pace this year despite weaker growth in exports, the BDI industry association said in its latest report, which was seen by Reuters on Sunday. Domestic demand has replaced foreign trade as the main support of Europe's largest economy, and the government predicts …

  • A general view of Qatar National Bank's head office building in Doha

    Qatar National Bank, the Middle East's largest lender by assets, said it had taken immediate steps to ensure customers would not suffer any financial loss after a security breach last week exposed personal data of thousands of clients.

  • Venezuelan president decrees 30 pct minimum wage boost

    Venezuelan President Nicolas Maduro, pictured in Caracas on April 19, 2016, is at the midpoint in his six-year term and faces an emboldened opposition as the country is mired in economic chaos

  • Indeed, South Korea reported April demand from China was the worst in three months, with exports to its biggest market tumbling 18.4 percent on-year. March data had spurred hopes that the long suffering manufacturing sector was bottoming out, with growth in industrial output and profits improving.

  • Senegal, Mauritania bet on oil and gas in perilous climate

    Energy firms say Senegal and Mauritania's current oil and gas ventures will transform them into net exporters by 2020

  • Crisis-hit Venezuela to push clocks forward to save power

    Watches with images of Venezuelan President Hugo Chavez at a shop in Caracas on January 7, 2012

  • Wrecked helicopter fuselage raised from the sea in Norway Associated Press - Sat, Apr 30, 2016 15:20 BST
    Wrecked helicopter fuselage raised from the sea in Norway

    Emergency crews pulled the wrecked fuselage of an Airbus EC-225 helicopter out of the sea Saturday off western Norway after a crash that killed all 13 people on board. As aviation experts looked for answers ...

  • Colombia's illegal mining linked to malaria outbreak

    Critics point to stagnant water buildups at Colombia's clandestine mining sites and poor sanitary conditions at the workers' camps for an increase in mosquitos spreading

  • Texas court blocks Houston from using tougher clean-air laws Associated Press - Sat, Apr 30, 2016 06:48 BST
    FILE - In this June 28, 2011 file photo, an oil tanker is docked at the ExxonMobil Baytown complex along the Houston Ship Channel in Baytown, Texas. Houston's efforts to use local clean air laws to regulate pollution in the home of the nation's largest petrochemical complex were halted Friday, April 29, 2016, by a Texas Supreme Court ruling in favor of energy and chemical companies that claimed the city had overreached. The coalition made up of ExxonMobil Corp. and other companies with nearby refineries and plants had sued the nation's fourth-largest city in 2008 after Houston passed ordinances that required businesses to pay registration fees based on the number and type of pollution sources on each site.  (AP Photo/David J. Phillip, File)

    HOUSTON (AP) — Houston's efforts to use local clean air laws to regulate pollution in the home of the nation's largest petrochemical complex were halted Friday by a Texas Supreme Court ruling in favor of energy and chemical companies that claimed the city had overreached.

  • Argentina's big unions join to protest layoffs, inflation Associated Press - Sat, Apr 30, 2016 03:58 BST
    Workers protest skyrocketing consumer prices and job cuts in Buenos Aires, Argentina, Friday, April 29, 2016. Thousands of state employees have been fired since Argentina's President Mauricio Macri came to power in December with promises to cut spending. The protest was staged ahead of Sunday’s May 1 Labor Day. (AP Photo/Natacha Pisarenko)

    BUENOS AIRES, Argentina (AP) — Argentina's strongest unions brought thousands of people into the streets Friday to protest high inflation and job cuts in the biggest demonstrations against President Mauricio Macri since he took office in December.

  • AP Top Extended Financial Headlines at 7:43 p.m. EDT Associated Press - Sat, Apr 30, 2016 00:43 BST

    Lower oil prices push Exxon's 1Q profit down by 63 percent; weakest quarter since 1999

  • Eurozone economy regains size of 2008 but remains shaky Associated Press - Sat, Apr 30, 2016 00:30 BST
    Eurozone economy regains size of 2008 but remains shaky

    It's been a long and tortuous journey, but the eurozone economy is finally back to the size it was before the global financial crisis. The 19-country currency union, which as a bloc is the world's second-largest ...

  • Top Venezuela beer maker halts production amid shortages Associated Press - Fri, Apr 29, 2016 23:05 BST
    FILE - In this July 31, 2015 file photo, a liquor store worker unpacks a case of Polar beer, in downtown Caracas, Venezuela. Cerveceria Polar announced Friday, April 29, 2016,  it has shut down beer production at its factory in Carabobo, the last of its four, due to a shortage of imported supplies. (AP Photo/Fernando Llano, File)

    CARACAS, Venezuela (AP) — Venezuela's largest brewer said it shut down beer production Friday at the last of its four factories due to a shortage of imported supplies.

  • Pennsylvania probes possible link between quakes, Associated Press - Fri, Apr 29, 2016 21:19 BST

    Pennsylvania environmental regulators want to determine whether a series of minor earthquakes in the state this week were caused by nearby fracking operations by an oil and gas company. Five tiny temblors, ...

  • Figures on government spending and debt Associated Press - Fri, Apr 29, 2016 21:01 BST

    Figures on government spending and debt in millions of dollars. The government's fiscal year runs Oct. 1 through Sept. 30.

  • Grain mixed, livestock mixed Associated Press - Fri, Apr 29, 2016 20:41 BST

    Grain futures were mixed Thursday on the Chicago Board of Trade. Wheat for May delivery was up 2.50 cents at $4.78 a bushel; May corn was 3.25 cents higher to 3.9025 a bushel; May oats were off .75 cent ...

  • Norway oil-rig helicopter crash kills 13; flying ban issued Associated Press - Fri, Apr 29, 2016 20:31 BST
    Norway oil-rig helicopter crash kills 13; flying ban issued

    A helicopter carrying Statoil workers from an offshore rig in the North Sea crashed Friday on an island off western Norway, killing all 13 people on board, rescuers said. The Airbus EC-225 helicopter shattered ...

  • US rig count drops 11 this week to 420, another all-time low Associated Press - Fri, Apr 29, 2016 20:23 BST

    The number of rigs exploring for oil and natural gas in the U.S. dropped by 11 this week to 420, again reaching an-time low amid depressed energy industry prices. A year ago, 905 rigs were active. Houston ...

  • Oil profits plunge as industry eyes a bottom AFP - Fri, Apr 29, 2016 19:52 BST
    Oil profits plunge as industry eyes a bottom

    Oil company results reflect the effects of a nearly 40 percent drop in prices to under $30 a barrel for much of the first quarter amid a persistent global oversupply

  • The Latest: Black boxes found in Norwegian helicopter crash Associated Press - Fri, Apr 29, 2016 18:57 BST
    A search and rescue vessel patrols off the island of Turoey, near Bergen, Norway, as emergency workers on the shoreline attend the scene after a helicopter crashed believed to be have 13 people aboard, Friday April 29, 2016.  The helicopter carrying around 13 people from an offshore oil field crashed Friday near the western Norwegian city of Bergen, police said. Many are feared dead.  (Marit Hommedal / NTB scanpix via AP) NORWAY OUT

    COPENHAGEN, Denmark (AP) — The Latest on the crash of a helicopter on an island off western Norway (all times local):

  • Exxon's 1Q profit plunges 63 percent on lower oil prices Associated Press - Fri, Apr 29, 2016 18:02 BST
    Exxon's 1Q profit plunges 63 percent on lower oil prices

    Exxon Mobil produced its weakest quarter in more than 16 years as lower oil prices pushed its profit down by 63 percent. Revenue tumbled 28 percent, and the oil giant lost money in its vaunted exploration ...

  • Fed's Kaplan says may back June or July rate rise Reuters - Fri, Apr 29, 2016 17:58 BST

    Dallas Federal Reserve President Robert Kaplan said on Friday that he could back a rise in U.S. interest rates as soon as June or July, if U.S. economic data firms up as he expects. Kaplan, who does not currently vote this year on the Federal Open Market Committee, said interest rates should rise gradually but that financial …

Next >>