Commodities Hit July Storm With Putin and Powell Stirring Fear

Breadcrumb Trail Links PMN Business Commodities are careering into a second half that promises as much turmoil as the first, with the world facing an escalating energy crisis, copper plunging on Fed-fueled recession fears, and Russian President Vladimir Putin delivering a shock for Shell Plc. Author of the article: Bloomberg News Bloomberg News Publishing date: … Read more

Russian Commodities Traders Relocate to Dubai as Switzerland Tightens Sanctions

Traders of Russian commodities are rushing to set up businesses in Dubai as Switzerland makes it increasingly challenging for them to deal with Moscow. Switzerland has for decades been home to middlemen helping to match Russian producers with buyers all over the world. Now, a ratcheting up of sanctions is prompting a migration to the … Read more

Trafigura posts record half-year profit as commodities volatility intensifies

Trafigura reported record half-year profits as volatility and disruption in commodity markets, exacerbated by the war in Ukraine, supercharged earnings for the world’s biggest traders. The group’s net profit for the six months to the end of March was $2.7bn, up 27 per cent from last year, with the company trading a record volume of … Read more

Indian government trims tax on fuel, essential commodities to fight inflation By Reuters

© Reuters. FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas By Munsif Vengattil NEW DELHI (Reuters) – India on Saturday announced a series of changes to the tax structure levied on crucial commodities in a bid to insulate … Read more

Stocks, commodities slide as growth worries unnerve investors By Reuters

© Reuters. FILE PHOTO: A woman wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, looks at an electronic board displaying Japan’s Nikkei index outside a brokerage in Tokyo, Japan, March 7, 2022. REUTERS/Kim Kyung-Hoon By Anshuman Daga SINGAPORE (Reuters) -Asian shares fell to their lowest in nearly two years on Tuesday, as investors … Read more

TSX tanks more than 500 points as commodities join stock retreat

Breadcrumb Trail Links FP Investor Caught in the undertow of a global retreat from equities amid stubbornly high inflation Author of the article: Canada’s main stock index touched a more than three-month low on Monday. Photo by Reuters Article content The S&P/TSX composite index plunged to a three-month low, as Canada’s main stock market got … Read more

Stocks, commodities prices tumble on hawkish Fed, China worries

Breadcrumb Trail Links PMN Business Author of the article: Reuters Chris Prentice and Marc Jones Article content WASHINGTON/LONDON — Traders ditched riskier assets on Monday as relief over Emmanuel Macron’s victory in the French presidential election quickly gave way to renewed concerns about rising global interest rates and China’s spluttering economy. Wall Street extended last … Read more

Oil joins tumbling commodities as China COVID spread triggers fresh demand worries

Oil prices tumbled on Monday, amid fresh worries that spreading COVID cases and more lockdowns in China will hurt demand. That has added to concerns that Federal Reserve tightening could also weaken prospects for the commodity. Price action West Texas Intermediate crude for June delivery  CL.1, -4.02%   CL00, -4.02%   CL00, -4.02% CLM22, -4.02% … Read more

China lockdown fears rip through markets as stocks, commodities, Yuan tank

Fears about the economic toll of China’s strict Covid Zero policy intensified Monday, as news that lockdowns were spreading to Beijing sent stocks, commodities and the yuan tumbling. The benchmark CSI 300 Index dropped as much as 2.7% to the lowest since June 2020, wiping out gains from a … Read more