Oil Prices Fall as Economic Outlook Deteriorates: Kemp

Global economic momentum is decelerating, according to a broad range of financial and real-economy indicators, which is weighing on worldwide equity markets and oil prices. The depth and duration of the slowdown is impossible to gauge at this point, whether it turns out to be simply a mild and short-lived “soft patch”, a longer but
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Falling spot LNG prices in Asia and record-high shipping rates could deter the movement of US cargoes to the region this winter as offtakers seek higher-value markets for export. On Wednesday, the prompt-month Platts JKM, the benchmark price for spot-traded LNG in northeast Asia, slumped to $10.20/MMBtu, S&P Global Platts data shows. After climbing to
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Asian spot prices for liquefied natural gas fell to an over two-month low this week amid increased supply and lower demand especially in Japan which is expecting a warmer-than-usual winter and the restart of nuclear reactors. High freight rates are also weighing on Asian demand, with deliveries of LNG heading to northwest Europe instead. December
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Shanghai construction steel futures notched a fourth straight day of gains on Thursday as stable demand and shrinking stockpiles in top consumer China saw the ferrous complex avoid heavy losses seen in global equities and base metals markets. The most traded steel rebar contract on the Shanghai Futures Exchange, for January delivery, rose 0.8 percent
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Shanghai rebar steel futures inched up on Tuesday, buoyed by firm demand ahead of winter when construction usually slows in northern China due to frigid conditions and anti-pollution regulations. Stockpiles of steel products at Chinese traders fell by 370,000 tonnes to 10.3 million tonnes in the week to Oct. 19, according to data compiled by
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Chinese imports of grains such as sorghum plunged in September from the year before, customs data showed on Tuesday, hit by escalating trade tensions with the United States and high prices elsewhere. Imports of sorghum, largely used in China to feed the country’s massive livestock herd, fell 76.9 percent from the same month last year
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Shanghai rebar steel futures jumped more than 1 percent on Monday after 10 cities in China’s top steel-producing Hebei province issued second-level smog alerts, prompting industrial plants to cut output. The gains in steel prices also came alongside the rally in Chinese stocks as Beijing pledged support for equity markets and as China prepares to
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Asia-Pacific benchmark Newcastle prices have fallen to five-month lows on relatively weak Chinese import demand and abundant supply, participants said on Thursday. Broker Global Coal’s benchmark Newcastle [Australia] index was assessed last at USD 106.68/t, down by 4% on the week and the lowest level since mid-May. China’s Zhengzhou thermal coal futures contract for delivery
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China’s construction steel futures recovered from the steep declines seen across international commodity and equity markets to close higher on Thursday, as possible Chinese production curbs ahead of winter remained in focus. Asian share markets sank on Thursday after Wall Street suffered its worst drubbing in eight months. Shanghai benchmark construction steel futures initially fared
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NEW DELHI: Indian sugar mills have signed deals to export raw sugar for the first time in three years as a rally in New York prices to seven-month highs along with Government subsidies made exports lucrative, five dealers and two industry officials said recently. Mills in the world’s second biggest sugar producer were reluctant to
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