COMMODITIES

Neptune Energy awards remote monitoring contract to Fugro

MetaNews July 2, 2020

7/1/2020 OSLO – Neptune Energy announced the award of a subsea inspection contract to leading geo-data specialist, Fugro, which will employ state-of-the-art remote monitoring technology to survey subsea structures at the Cygnus gas field in the UK’s southern North Sea. Fugro’s scope of

COMMODITIES

African Energy Chamber says European travel bans impact oilfield safety and productivity

MetaNews July 2, 2020

7/2/2020 JOHANNESBURG – The African Energy Chamber said the continuation of travel restrictions and suspension of visas and travel between Africa and Europe is heavily restraining the oil & gas industry’s recovery efforts. Because of its international nature, the oil & gas sector relies on global value-chains and successful cooperation and movement of people, goods

FOREX Oil

Solid Jobs Report and Relentless Reopening Optimism Drive Stocks and Oil Higher, Gold and Dollar Slump

MetaNews July 2, 2020

The US economy continues to head in the right direction. Financial markets are heading into a long weekend on a high note after a blockbuster jobs report showed 4.8 million jobs were created, the most since records began in 1939. S&P futures and European stocks are rallying as the trajectory of the economic recovery remains […]

FOREX Oil

WTI Oil Outlook: WTI is on Track to Form the Third Straight Doji as Conflicting Signals Keep Near-Term Action Directionless

MetaNews July 2, 2020

WTI continues to trade around $40 handle on Thursday, extending narrow-range movements into third straight day and on track to leave third consecutive daily Doji candle. Conflicting signals keep oil price in directionless mode as sharp drop in US crude stockpiles and boosted risk mode from US NFP beat underpin the action but rise in […]

COMMODITIES

Putin likely to retain power until 2036 on upcoming Russian vote

MetaNews July 2, 2020

By Henry Meyer on 7/1/2020 MOSCOW (Bloomberg) –Russian President Vladimir Putin is on course to secure a resounding endorsement of his bid to extend his two-decade-long rule potentially up to 2036, as the Kremlin faces criticism for its heavy-handed efforts to marshal support. Putin, a former KGB colonel who came to power in 2000, is […]

FOREX Oil

WTI Futures Weaken Their Bullish Move Above SMAs

MetaNews July 2, 2020

WTI crude oil futures have found resistance at the 41.60 barrier, sending prices sideways in the short-term. Oil is keeping its position above the moving averages despite the contradicting signals in the momentum indicators. The MACD is holding beneath its trigger line in the positive territory, while the RSI is pointing marginally up in the […]

COMMODITIES FOREX Oil

Oil prices muted, gold grinds higher on COVID

MetaNews July 1, 2020

By recent standards, oil’s price action overnight flatlined, supported by very narrow daily ranges. Brent crude fell slightly by 0.25% to $41.20 a barrel, with WTI rising 0.50% to $39.80 a barrel in directionless trading. Both contracts remain comfortably ensconced in the middle of their respective monthly ranges, as outlined yesterday. Covid-19 nerves are definitely

COMMODITIES

Shell plans multi-billion writedown on weakened oil demand

MetaNews July 1, 2020

By Laura Hurst on 6/30/2020 LONDON (Bloomberg) –Royal Dutch Shell said it will write down between $15 billion and $22 billion in the second quarter, as the company gave investors a wider glimpse of just how severely the coronavirus crisis has hit Big Oil. The impairment is the firm’s largest since Royal Dutch Petroleum Co. […]

COMMODITIES

ConocoPhillips to restore curtailed production as oil prices rise

MetaNews July 1, 2020

By Rachel Adams-Heard on 6/30/2020 HOUSTON (Bloomberg) – ConocoPhillips said it will begin restoring curtailed oil production in July as crude prices rebound from their lockdown depths. The company will bring back output in Alaska and other states next month, with Canadian production coming back in the third quarter. “Given ongoing variability and uncertainty in […]

COMMODITIES

SolGold makes another attempt at acquiring all of Alpala project

MetaNews June 30, 2020

(Kitco News) – SolGold describes Alpala as one of the top undeveloped copper gold projects globally. Last month SolGold raised $32.6 million to advance the project. Source