Commodities articles

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Why the ‘+’ in OPEC+ Matters to Oil Markets

A new term has emerged in the world of crude oil price analysis: “OPEC+”. The Organization of Petroleum Exporting Countries and its new crude-producing allies make up OPEC+, with the “+” consisting of ten additional oil-producing nations, the largest three being Russia, Mexico and Kazakhstan. April Meeting Cancelled In the same way that people focus

Vale’s Woes Could Be Good News for U.S. Steel Stocks

The drama surrounding the tragic dam collapse in Brazil’s Minas Gerais province continued to unfold on Monday. Over the weekend, Vale (VALE) CEO Fabio Schvartsman stepped down—albeit temporarily—amid questions of collusion and huge fines in connection with Vale’s late-January mining disaster. Vale stock has dropped 0.4% to $12.34. In addition to the human costs, the

Oil up 9 sessions in a row, longest win streak for U.S. benchmark since 2010

A move higher in the last few minutes of trading on Thursday allowed oil futures to notch a ninth straight session of gains, the longest winning streak in about nine years for the U.S. benchmark and more than 11 years for global crude prices. “The market was looking for a bigger sell off” following comments

Oil ends at a 1-week low after failing to extend Friday’s OPEC-led price surge

Oil futures settled at their lowest in roughly a week on Monday on growing concerns over a slowdown in energy demand, failing to extend last week’s rally in prices following the OPEC-led agreement among major producers to cutback on production. West Texas Intermediate crude for January delivery CLF9, +0.37%  fell $1.61, or 3.1%, to settle

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