Friday 31 March 2017
US crude settles at $50.35, rising 1.7% on expectations for OPEC deal extension
Oil costs bounced for a third day on Thursday to their most astounding in three weeks after Kuwait gave its sponsorship for an augmentation of OPEC creation slices trying to decrease worldwide oversupply.
Kuwait oil serve Essam al-Marzouq said his nation was among a few countries supporting the augmentation of an arrangement between the Organization of the Petroleum Exporting Countries and different exporters to point of confinement yield, state news office KUNA announced.
The bounce back has restored some good faith following a time of three weeks where examiners forcefully diminished long positions taking after weeks of higher-than-anticipated stock figures. Both Brent and U.S. rough achieved their largest amounts since March 9 on Thursday.
U.S. unrefined petroleum settled 84 pennies, or 1.7 percent, higher at $50.35, it's best shutting level in three weeks.
Brent unrefined petroleum was up 53 pennies, or 1 percent, at $52.95 a barrel by 2:36 p.m. ET (1836 GMT) , subsequent to hitting a session high of $53.10.
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Thursday 30 March 2017
Gold and Silver Price in Malaysia in Malaysian Ringgit (MYR)
Last refresh: Thursday 30th March 2017, 05:48 am as indicated by the time zone of Greenwich (Thursday 30th March 2017, 01:48 pm as per the time zone of Kuala Lumpur)
Gold and Silver costs are refreshed frequently.
The accompanying tables demonstrates the most recent gold cost in Malaysia ascertained in Malaysian Ringgit (MYR) and refreshed routinely. The costs are now and then refreshed all the more much of the time on occasion of solid value moves in light of live spot gold value (Bid Price). The keep going refresh was on Thursday 30th March 2017, 05:48 am (GMT) or Thursday 30th March 2017, 01:48 pm as indicated by the nearby time of Kuala Lumpur.
Gold costs are figured both per ounce, gram, kilogram and tola and for the most well-known karats.
Latest updates for traders:
Gold Price Today in Singapore in Singapore Dollar (SGD)
Last refresh: Thursday 30th March 2017, 03:48 am as per the time zone of Greenwich (Thursday 30th March 2017, 11:48 am as indicated by the time zone of Singapore)
Gold and Silver costs are refreshed consistently.
The accompanying tables demonstrates the most recent gold cost in Singapore figured in Singapore Dollar (SGD) and refreshed frequently. The costs are here and there refreshed all the more every now and again on occasion of solid value moves in view of live spot gold value (Bid Price). The keep going refresh was on Thursday 30th March 2017, 03:48 am (GMT) or Thursday 30th March 2017, 11:48 am as per the neighborhood time of Singapore.
Gold costs are ascertained both per ounce, gram, kilogram and tola and for the most widely recognized karats.
Latest Updates:
Wednesday 29 March 2017
Oil rises on Libyan supply disruptions, likely OPEC output cut extension
Oil costs on Wednesday amplified picks up from the past session, lifted by supply disturbances in Libya and desires that an OPEC-drove yield diminishment will be reached out into the second 50% of the year.
Front-month Brent rough prospects, the global benchmark for oil, rose 29 pennies, or 0.6 percent, to $51.62 per barrel by 0653 GMT.
In the United States, West Texas Intermediate (WTI) rough prospects were up 34 pennies, or 0.7 percent, at $48.71 a barrel.
The increases added to an ascent of more than 1 percent for both rough benchmarks the earlier day.
Oil creation from the western Libyan fields of Sharara and Wafa has been hindered by outfitted dissidents, diminishing yield by 252,000 barrels for every day (bpd), a source at the National Oil Corporation (NOC) revealed to Reuters late on Tuesday.
"That (Libya), alongside the Iranian oil serve saying there is probably going to be an expansion to the creation cut arrangement helped raw petroleum rally overnight," said Greg McKenna, boss market strategist at fates business AxiTrader.
The Organization of the Petroleum Exporting Countries (OPEC), alongside some different makers including Russia, have consented to cut generation by right around 1.8 million bpd amid the primary portion of the year with a specific end goal to get control over a worldwide fuel supply shade and prop up costs.
Yet, as business sectors remain bloated most of the way into the cuts, there is an expansive desire that the supply cuts will be stretched out into the second 50% of the year.
Regardless of the rising agreement of broadened cuts, the OPEC-drove technique to re-adjust oil markets is not without contention.
As OPEC and particularly Saudi Arabia cut their creation, different makers not taking part in the slices have rushed to fill the supply hole and pick up piece of the pie.
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Vietnam's Jan-March crude oil exports fall 15.8 pct y/y
Vietnam's January-March raw petroleum sends out fell 15.8 percent from a year back to an expected 1.53 million tons, or 125,000 barrels for each day (bpd), the administration said on Wednesday.
Unrefined petroleum send out income in the three months, in any case, rose 29.7 percent from a similar time a year ago to $650 million, the administration's General Statistics Office said in its month to month report.
Oil item imports fell 4.3 percent in a similar period to an expected 2.63 million tons, while the esteem hopped 56.6 percent to $1.43 billion, the report said.
Vietnam's condensed oil gas imports amid the initial three month of this current year edged down 0.6 percent from a year prior to 313,000 tons, it included.
Latest updates for traders:
Friday 24 March 2017
Oil edges up as Saudis cut supplies to US, but global glut remains
SINGAPORE: Oil costs edged up on Friday, bolstered by a fall in Saudi fares to the United States, yet general markets stayed under weight on the back of a world market flooded with fuel
Costs for front-month Brent unrefined prospects, the universal benchmark for oil, were at $50.63 per barrel at 0343 GMT, up 7 pennies from their last close.
In the United States, West Texas Intermediate (WTI) unrefined prospects were up 12 pennies at $47.82 a barrel.
Brokers said the lift in costs came as a report that Saudi Arabia's rough fares to the United States in March would fall by around 300,000 barrels for every day (bpd) from February, in accordance with OPEC's consent to lessen supply.
"We have turned bullish ... over a three-month time skyline ... on the commence of solid stock attracts Q2 2017 and firm OPEC, non-OPEC consistence," BMI Research said in a note to customers.
In the United States, abroad oil providers like Saudi Arabia need to go up against rising shale boring, which has pushed up U.S. oil creation by more than 8 percent since mid-2016 to simply over 9.1 million bpd.
Latest updates for traders:
PRECIOUS-Gold steady as markets await U.S. healthcare
Gold costs held relentless on Friday in the midst of a firmer dollar as business sectors held up to check whether U.S. President Donald Trump will confront leaps on his financial motivation after U.S. administrators deferred a vote on a medicinal services charge. Essentials
* Spot gold <XAU=> was down 0.1 percent at $1,243.60 per ounce by 0058 GMT. On Thursday, it touched its most grounded since Feb. 28 at $1,253.12.
* U.S. gold fates <GCcv1> were down 0.3 percent at $1,243.80.
* Palladium <XPD=> moved to a pinnacle of $808.70 in the earlier session, its most noteworthy since March 2015.
* U.S. President Donald Trump will get another opportunity to attempt to finalize the negotiations with Republican legislators on disassembling Obamacare in a high-stakes vote on another social insurance charge rescheduled for Friday.
* An unpleasant ride for the medicinal services plan could influence Trump's endeavors to cut duties and lift foundation, with the possibility to drive more financial specialists to gold as a place of refuge if securities exchanges fall, investigators and merchants said.
* Economic recuperation in the euro zone is making progress and a few information focuses to strong energy in the primary quarter in spite of instability over Brexit, China's rebalancing and new U.S. arrangements obfuscating the standpoint, the European Central Bank said on Thursday.
* Dallas Federal Reserve Bank President Robert Kaplan said the U.S. national bank ought to move "purposely however calmly" to evacuate money related approach convenience, the length of the economy keeps on gaining ground toward the Fed's objectives.
* Federal Reserve Chair Janet Yellen did not address financial strategy or the monetary standpoint in arranged comments for an adolescence training meeting in Washington.
* Workers brought down instruments on Thursday in a wildcat strike at Harmony Gold's <HARJ.J> Kusasalethu mine west of Johannesburg, the organization said.
Latest updates for traders:
Thursday 23 March 2017
Asia Fuel Oil-Market complex edges higher but supply overhang persists
Costs in Asia's fuel oil showcase complex edged higher on Wednesday on expanded purchasing interest and falling raw petroleum costs, however picks up were topped by a diligent shade in worldwide supplies of the modern fuel.
More grounded purchasing enthusiasm for the center and back-end of the Platts window limited money rebates of the 380-cst fuel after a sum of 110,000 tons of the fuel traded hands through five arrangements, industry sources said.
Merchants said the enhanced purchasing enthusiasm towards the back-end of the valuing window, which compares to around mid-April and later, could indicate the progressive narrowing of provisions then as recharges simplicity following quite a while of constrained arbitrage openings. This comes as worldwide stock information demonstrated supplies of leftover powers stayed at hoisted levels.
In the United Arab Emirates, the Fujairah Oil Industry Zone on Wednesday revealed a 11 percent expansion in substantial distillates and deposit inventories in the week to March 20, information by means of S&P Global Platts appeared. Fuel oil inventories in the capacity center bounced 1.06 million barrels (very nearly 158,000 tons) to a sum of 10.92 million barrels (or 1.63 million tons), the most elevated amount since records started in January, the information appeared.
This takes after capacity information in the earlier week that indicated fuel oil inventories in the Amsterdam-Rotterdam-Antwerp (ARA) center hopped 20 percent in the week to March 16, their most elevated since records started in 1995, while supplies of the mechanical fuel in Singapore edged just 3 percent far from an eight-month high in the week to March 15. In the paper markets, raised exchange movement in the close term showcase structure of the 380-cst fuel limited its contango on desires of a facilitating supply overhang.
The ICE 380-cst April/May time spread was exchanging at a contango of 75 pennies a ton by 1730 Singapore time (0930 GMT), while the May/June contract was exchanging at equality to each other after additionally posting increases of 25 pennies a ton from the past session, sources said.
In the mean time, falling unrefined petroleum costs poked Singapore fuel oil refining edges higher on Wednesday to their most elevated since March 13. Singapore's April 180-cst fuel oil limited its markdown to Dubai unrefined subsequent to picking up 39 pennies a barrel from the past session to less $3.76 a barrel, while edges of the April 180-cst fuel against Brent rough likewise climbed 35 pennies a barrel from Tuesday's near short $5.33 a barrel.
Traders could check daily updates here:
Malaysia ‘firmly on the path’ to be high-income nation
KUALA LUMPUR: Malaysia is "immovably on the way" to wind up distinctly a high-salary country. The "center salary trap" is no longer an issue after the presentation of the National Transformation Program (NTP), as indicated by Prime Minister Datuk Seri Najib Razak.
The remark distinct difference a conspicuous difference to a remark by Institute for Democracy and Economic Affairs (Ideas) two days prior that Malaysia is extremely off-track from its Vision 2020 pay objective.
Thoughts highlighted that the normal wage per individual in Malaysia had contracted by 15% to US$8,821 (RM38,989) in 2016, from US$10,345 in 2013.
Talking at The Global Transformation Forum, Najib called attention to that the NTP had made 1.8 million employments, of which more than one million were high-wage occupations. He likewise shared that gross national salary had expanded by about half, and that destitution had nearly been killed with a diminishment to scarcely 0.6%.
The head administrator stored adulates on the administration's choice to make some intense calls, for example, the expulsion of fuel sponsorships and the presentation of the products and ventures assess, as it manufactured more grounded strength when raw petroleum costs had fallen forcefully in the course of recent years.
"Yet, had we not gone for broke [to make intense calls], we would have been enduring today due to that sharp and sudden decrease in oil costs. We would have been in desperate straits, confronting a gigantic gap in the nation's financial plan. Rather, as the consequence of those intense decisions, we fabricated the versatility that even in the troublesome circumstances for [the] worldwide economy, despite everything we enlist [a] development of 4.2% in 2016.
"We expect a somewhat higher [economic growth] figure this year, and for it to ascend in 2018. These figures indicate Malaysia developing at more than twofold the rates the IMF (International Monetary Fund) predicts for cutting edge economies over a similar day and age," Najib said.
The head administrator likewise told the crowd that Malaysia's 2050 NTP is for the nation to be a main 20 nation by 2050.
"PriceWaterhouseCoopers has quite recently distributed a report in which they anticipate Malaysia will have the 25th most astounding GDP (total national output) on the planet, measured by buying power equality, by 2030, and the 24th by 2050. In this way, best 20 is inside our grip," he said.
Traders could check daily updates here:
Wednesday 22 March 2017
Oil prices fall early Wednesday on bloated US crude storage
SINGAPORE: Oil costs plunged on Wednesday as rising rough stocks in the United States underscored a continuous worldwide fuel supply overhang regardless of an OPEC-drove push to cut yield. Costs for front-month Brent rough fates, the global benchmark for oil, were at $50.92 per barrel at 0051 GMT, down 4 pennies from their last close.
U.S. West Texas Intermediate (WTI) unrefined prospects were down 8 pennies at $48.16 a barrel.
"Unrefined petroleum costs fell as worries over rising U.S. inventories reemerged... Rising fares in Libya likewise weighed on costs," ANZ bank said on Wednesday. U.S. unrefined petroleum inventories ascended by 4.5 million barrels in the week to March 17 to 533.6 million, the American Petroleum Institute (API) said late on Tuesday.
The bloated stockpiling comes as U.S. oil creation has ascended more than 8 percent since mid-2016 to more than 9.1 million barrels for each day (bpd) to levels practically identical in late 2014, when the oil showcase droop began.
Rising generation in the United States and somewhere else, and bloated inventories, are undermining endeavors drove by the Organization of the Petroleum Exporting Countries (OPEC) to cut yield and prop up costs.
"2017-19 is probably going to see the biggest increment in super undertakings creation ever," Goldman Sachs said in a note to customers on Tuesday. "Driven by U.S. shales, (this) could make a material oversupply in 2018-19. As OPEC gets ready for its May 25 meeting, it is probably going to measure the relative advantage of solidness (develop the cut) versus the danger of long haul (showcase) share misfortune," the bank included.- Reuters
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Saudi Aramco’s US$7bil investment in the Petronas Pengerang Integrated Complex in Johor
KUALA LUMPUR: Saudi Aramco's US$7bil interest in the Petronas Pengerang Integrated Complex in Johor, is a noteworthy confirmation that Malaysia is not very nearly insolvency.
PM Datuk Seri Najib Tun Razak said it was incomprehensible for the Saudi Arabia state-claimed oil organization to focus on such an expansive interest in a nation that was going bankrupt.
"I bring up this issue in light of the fact that, as you most likely are aware, there has been a great deal of fake news recently. Lamentably, the legislatures rivals here in Malaysia frequently lean toward not to draw in with us on the realities.
"They make false purposeful publicity like this is a state very nearly insolvency some of which tragically picks up footing universally," he said in his keynote address at the 2017 Global Transformation Forum here today.
He ticked off such activity as nothing not as much as monetary harm for egotistical, individual political additions which would influence all Malaysians.
"The Aramco arrangement was practically destroyed by such fake news. All things considered, many would not anticipate that a previous pioneer will educate lies concerning his own particular nation.
"So when he tells individuals that Malaysia is confronting chapter 11, some trust him. Actually, he knows he is telling falsehoods," said Najib, who is likewise the Finance Minister.
He said the reality of the situation was, be that as it may, the inverse, with a huge number of occupations made, solid and steady development, and in addition, low swelling and unemployment, notwithstanding the diminishment in financial shortfall to 3.1% a year ago from 6.7% in 2009.
Crude Oil
| INDEX | UNITS | PRICE | CHANGE | %CHANGE | CONTRACT | TIME (EDT) | |
|---|---|---|---|---|---|---|---|
| USD/bbl. | 47.82 | -0.42 | |||||
| USD/bbl. | 50.56 | -0.40 | |||||
| JPY/kl | 34,570.00 | -1,120.00 |
Traders could check updates about Crude oil here:
Tuesday 21 March 2017
PRECIOUS-Gold steady as Fed rate hike outlook weighs on dollar
Walk 21 (Reuters) - Gold costs edged up on Tuesday to hold close to two-week highs hit in the past session, with the dollar plunging after the Chicago Federal Reserve's leader said the U.S. national bank would not race to climb loan fees. Essentials
* Spot gold <XAU=> was up 0.1 percent at $1,234.40 per ounce by 0045 GMT. On Monday, it touched its most grounded since March 6 at $1,235.50.
* U.S. gold fates <GCcv1> were for the most part unaltered at $1,234.60.
* The dollar record <.DXY>, which measures the greenback against a wicker bin of monetary standards, was down 0.2 percent at 100.190.
* The Fed will probably hold up at any rate until a June strategy meeting to choose whether to lift U.S. loan costs once more, giving it an opportunity to process monetary and money related market information and in addition any clearness on the Trump organization's financial approach arranges, Chicago Fed President Charles Evans said on Monday.
* Markets were propping for a stuffed week of Fed informing with a few approach creators set to talk, including Chair Janet Yellen on Thursday.
* Yellen's mindful direction a week ago has financial specialists valuing in no possibility of another rate ascend at the following approach meeting in May.
* While Asian shares have been upheld by indications of solid worldwide monetary development, worries about protectionism cast a shadow after money related pioneers of the world's greatest economies dropped a vow to keep worldwide exchange free and open, assenting to an inexorably protectionist United States.
* Holdings of SPDR Gold Trust <GLD>, the world's biggest gold-upheld trade exchanged store, fell 0.46 percent to 830.25 tons on Monday from 834.10 tons on Friday.
* Greece and its euro zone banks are still at chances over changes required before new advances can be dispensed to Athens, the head of euro zone fund priests said on Monday after an uncertain meeting in Brussels.
* Ultra-low Bank of England loan costs since the money related emergency have most likely taken an unassuming toll on efficiency, however were a value worth paying to dodge higher unemployment, Bank of England boss financial specialist Andy Haldane said on Monday.
* Russia's national bank, which is looking to expand the nation's legitimate stores, posted an expansion in its gold holds in February, for the second successive month.
Latest Updates:
Oil prices rise on talk that OPEC could extend supply cut
Oil costs ascended on Tuesday on desires that an OPEC-drove generation slice to prop up the market could be broadened, while solid request would likewise work to gradually disintegrate a worldwide fuel supply overhang.
Costs for front-month Brent rough prospects, the worldwide benchmark for oil, were at $51.86 per barrel at 0401 GMT, up 24 pennies, or 0.5 percent, from their last close.
U.S. West Texas Intermediate (WTI) rough prospects were up 13 pennies, or 0.3 percent, at $48.35 a barrel.
The Organization of the Petroleum Exporting Countries (OPEC), together with different makers including Russia, has swore to cut its yield by right around 1.8 million barrels for each day (bpd) amongst January and June with an end goal to prop up costs and get control over a worldwide supply excess that has obstinate markets for just about three years.
However so far the reduction has not had the coveted impact as consistence by included exporters is inconsistent and as different makers, including the United States, have ventured up to fill the hole, bringing about rough costs falling more than 10 percent since the start of the year.
To stop the decay, OPEC individuals progressively support extending the agreement past June to adjust the market, sources inside the gathering stated, in spite of the fact that they included this would require non-OPEC individuals like Russia to likewise venture up their endeavors.
Brokers likewise said that sound oil request would help rebalance markets and bolster costs.
"Worldwide interest for 2017 is relied upon to stay solid and outperform long haul normal development sought after of 1.2 million barrels for each day by in the vicinity of 0.2 and 0.4 million barrels for each day. All things considered, the mix of powerful request and weaker worldwide supply prompting rebalanced markets won't be de-railed by U.S. shale oil," said Jeremy Baker, Senior Commodity Strategist, at Vontobel Asset Management.
Bread cook said this would "bolster the case for a move from contango to backwardation in the rough markets amid the second-half 2017."
Latest Updates:
Crude Oil Price Analysis for March 21, 2017
Raw petroleum is by all accounts attempting to remain above water as a twofold base inversion design framed at the base of its long haul rising channel. Support is holding up until now and a break past the neck area around $50 could affirm that a rally is likely. All things considered, unrefined petroleum could ricochet move down to the channel resistance close $55 or possibly until the region of enthusiasm at $53.
The 100 SMA is underneath the more drawn out term 200 SMA on this time span however the crevice is narrowing so an upward hybrid could be expected. All things considered, bullish weight could get and give the ricochet more footing. RSI is making a beeline for affirm that purchasers are responsible for value activity right now. Stochastic is likewise traveling north so unrefined petroleum could take action accordingly, however this oscillator is as of now in the overbought zone, which implies that bulls are drained.
Latest Updates:
Monday 20 March 2017
Gold Tips
Janet Yellen's mitigating words on the pace of U.S. financing cost climbs were a day late for speculative stock investments losing confidence in the metal.
Cash chiefs cut their bullish wagers on bullion by the most since 2015 in the week finished March 14. The following day, Federal Reserve Chair Yellen emphasized that money related arrangement will stay accommodative for "some time," facilitating market fears that there may be more than three rate climbs this year. Her words started the greatest gold rally since November.
Gold, which moved through the initial two months of the year, had foundered in March as the possibility of higher obtaining costs checked the interest of non-enthusiasm bearing resources. Yellen's comments came as the Bank of Japan keeps up its uncommon financial facilitating program and the Bank of England holds its benchmark rate at a record low, keeping yields on trillions of dollars worth of obligation underneath zero.
"The way that despite everything we have stimulative measures, the way that regardless we have adverse rates out there - that creates instability in individuals' psyches," said George Milling-Stanley, the head of gold methodology at State Street Global Advisors, which regulates $2.47 trillion. "There's as yet a dreadful parcel of things out there that are strong of gold in the short-to long haul."
Latest Updates:
Oil prices drop on rise in US drilling
Oil costs fell on Monday as rising US penetrating movement and consistent supplies from OPEC nations in spite of touted generation cuts compelled as of now bloated markets.
Costs for front-month Brent unrefined fates, the worldwide benchmark for oil, were 20 pennies beneath their last settlement at 0025 GMT (8:25 p.m. ET on Sunday), at US$51.56 per barrel.
US West Texas Intermediate (WTI) unrefined fates were down 28 pennies at US$48.50 a barrel.
Dealers said that costs were under weight because of rising US boring movement and continuous high supplies by the Organization of the Petroleum Exporting Countries (OPEC) in spite of its vow to cut yield by right around 1.8 million barrels for each day (bpd) together with some different makers like Russia.
"Raw petroleum has endeavored to break out of the exchanging range that shaped a year ago … However, this uptrend has slowed down," fates financier CMC Markets said in a note on Monday. "Presently there is great, solid force to the downside."US drillers included 14 oil fixes in the week to March 17, bringing the aggregate number up to 631, the most since September 2015, vitality benefits firm Baker Hughes Inc said on Friday, augmenting a recuperation that is relied upon to lift shale creation by the most in six-months in April.
Therefore, US oil yield has ascended to more than 9.1 million bpd from beneath 8.5 million bpd in June a year ago.
Responding to the continuous excess in business sectors, money related oil merchants cut their net long US rough fates and choices positions in the week to March 14, the third back to back cut, the US Commodity Futures Trading Commission (CFTC) said on Friday.
Challenging rising assumption that oil markets remain oversupplied, a few examiners say markets will fix soon, contending that the OPEC-drove slices will just begin to chomp from April, similarly as request grabs as refineries come back from current support blackouts.
"The cuts in OPEC creation from the begin of 2017 ought to begin to appear between mid-March (now) and mid-April. Over the coming weeks we expect a sharp diminishment in imports and increment in refining runs which ought to prompt to amazing unrefined stock draws," experts at AB Bernstein said on Monday in a note to customers.
"The blend of falling imports and more grounded rough runs ought to prompt to generous stock cuts over the coming months," they said.
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