Global Industry: Factors Affecting Oil Prices

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Brexit impact on oil

Oil prices are factored into the economic growth of most nations because it is used as a basic energy source in the production of a majority of goods and services. The international price of oil and the global oil market are both complicated. Based source FXDailyReport.com The oil price is dependent on a multitude of factors and some of them that affect international oil prices are detailed briefly in the paragraphs below. Continue reading

Global Markets: Coking coal price surges 15%

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A coal truck at Vale Moatize Coal Mine in Tete, Mozambique

The market for coking coal exploded on Monday with the steelmaking raw material surging more than 15% to $175.70 (Australia free-on-board premium hard coking coal tracked by the Steel Index), an 11-week high. Continue reading

Opinion & Analyse: Oil Rises 2% Off Strong EIA Data

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Oil price improvement

Oil rose Wednesday morning after the U.S. Energy Information Agency (EIA) reported significant drawdowns in product inventories for the week ending March 24. Gasoline inventories fell by 3.7 million barrels, and distillate inventories (including diesel and heating oil) dropped by 2.5 million barrels. Continue reading

Africa Oil & Gas: Low oil prices keeps driving Angola budget deficits

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Falling Oil prices keep hurting Angola

Low oil prices on international markets will lead Angola’s state budget to continue to show significant deficits between 2017 and 2021, although 5.7% of GDP projected for this year is expected to fall to 4.3% in 2021, according to the Economist Intelligence Unit (EIU). Continue reading

Global Markets: Iron ore soars past $92 a tonne, highest price in 2.5 years

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Global Oil & Gas: OPEC To Meet In Vienna This Weekend For Oil Cut Compliance

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OPEC to meet soon – Oil cut compliance on the table

This weekend the representatives of OPEC and several other major oil producers outside of this group, including Russia, are meeting in Vienna for their first meeting to monitor compliance with the oil output cut agreement. Continue reading

Global Industry: “Met coal will remain strong in 2017 and beyond” – Analyst

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Moatize (Tete), Mozambique, 12/06/2013 – Moatize coal mine. Stockpile area. Photo by Marcelo Coelho

Some analysts see demand for metallurgical coal slackening off once China eases limits on production but those policies will still impact prices this year. Clarksons Platou Securities analyst Jeremy Sussman told Bloomberg this week metallurgical coal was still his pick of commodities.   Continue reading

Global Markets: Thermal coal just hit $100 per tonne

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Global Markets: Coal price forecast to rise on production fall

A truck drives past as a worker sprays water at a coal pier of Lianyungang port

A truck drives past as a worker sprays water at a coal pier of Lianyungang port, Jiangsu province February 26, 2012. REUTERS/China Daily

A greater-than-expected decline in global mine production, predominately in China, has prompted Fitch group company BMI Research to forecast higher coal prices. The research group now calculates that Newcastle coal will average $53/t this year, up on its previous forecast of $51/t.
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Mozambique Oil & Gas: Rush to service natural gas projects leads to sovereign default

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The first Ocean Eagle 43 trimaran ocean patrol vessel ordered by the Mozambican government was launched in January 2015.

Mozambique Asset Management, the state-backed company from Mozambique will default on a $535 million loan to build new shipyards to service the country’s budding offshore natural gas industry. Continue reading