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Aug 11, 2015

Oil to copper to corn unhinged by shock China devaluation

LONDON/SINGAPORE, Aug 11 (Reuters) – Oil and copper prices
slumped to six-year lows and other commodities tumbled on
Tuesday after China devalued the yuan, raising concerns that a
persistently weaker currency will choke demand in the world’s
top consumer.

Adding to a weeks-long summer selloff that has rattled raw
material investors and producers, major commodity markets fell 3
percent or more after China’s central bank made what it called a
“one-off depreciation” of nearly 2 percent in the yuan after a
run of poor economic data, which sent the currency to a
three-year low.

Aug 11, 2015

Shock China devaluation unhinges commodities

LONDON/SINGAPORE (Reuters) – Oil, copper and other commodities tumbled on Tuesday after China devalued the yuan, raising concerns that a persistently weaker currency will choke off demand in the world’s top commodities consumer.

China’s central bank made what it called a “one-off depreciation” of nearly 2 percent in the yuan after a run of poor economic data, which sent the currency to a three-year low.

Aug 5, 2015

Oil rises for second day after U.S. inventories fall

LONDON (Reuters) – Oil prices edged up for a second day on Wednesday, recovering from a drop below $50 a barrel, after weekly data showed a fall in U.S. crude inventories, while a stronger dollar tempered gains.

The dollar rose to its highest in over three months after a voting member of the U.S. Federal Reserve’s policy-setting committee expressed support for an interest rate hike in September.

Aug 5, 2015

Oil prices rise for second day after U.S. inventories fall

LONDON (Reuters) – Oil prices rose for a second day on Wednesday, recovering from a drop below $50 a barrel after weekly data showed a fall in U.S. crude stocks, although a stronger dollar tempered gains.

The dollar rose to its highest in over three months after a voting member of the U.S. Federal Reserve’s policy-setting committee expressed support for an interest rate hike in September.

Aug 3, 2015

Oil falls to near $50 after OPEC monthly supply rise

LONDON (Reuters) – Oil slid to six-month lows on Monday, hit by fresh evidence of growing oversupply, investor bearishness and slowing demand in China, leaving crude prices on course for their weakest third-quarter performance since the financial crisis in 2008.

A Reuters survey last week showed oil output by the Organization of the Petroleum Exporting Countries (OPEC) reached the highest monthly level in recent history in July.

Aug 3, 2015

Oil pushed to six-month lows by over-supply concerns

LONDON (Reuters) – Oil fell to its lowest in six months on Monday, knocked by fresh evidence of growing oversupply and data highlighting slowing demand in China, leaving crude prices set for their weakest third-quarter performance since 2008.

A Reuters survey last week showed oil output by the Organization of the Petroleum Exporting Countries (OPEC) reached the highest monthly level in recent history in July.

Jul 31, 2015

Options market sees oil price fall despite OPEC confidence

LONDON (Reuters) – OPEC policymakers seem confident in a sustained recovery of oil prices from this year’s lows as demand improves, but the derivatives market is geared for an alternative scenario: a fall below $50 a barrel by the end of the year.

The level of volatility in the market, a broad measure of risk sentiment that determines the price of an option, has been edging higher.

Jul 29, 2015

Oil prices fall for sixth day as glut bites

LONDON (Reuters) – Oil prices fell for a sixth day on Wednesday, marking their longest string of losses in a year, as worsening global oversupply offset the potential lift from a weaker dollar and an expected drop in U.S. crude stocks.

A Reuters survey on Tuesday showed members of the Organization of the Petroleum Exporting Countries produced around 3 million barrels per day (bpd) of oil more than daily demand in the second quarter, compared with around 2 million bpd in the first three months of the year.

Jul 29, 2015

Oil prices fall in longest decline in a year

LONDON, July 29 (Reuters) – Oil prices fell on Wednesday, in
their longest string of daily losses in a year as worsening
global oversupply offset the potential lift from a weaker dollar
and an expected drop in U.S. crude stocks.

A Reuters survey on Tuesday showed members of the
Organization of the Petroleum Exporting Countries produced
around 3 million barrels per day (bpd) of oil more than daily
demand in the second quarter, compared with around 2 million bpd
in the first three months of the year.

Jul 28, 2015

Oil prices sent close to six-month lows by China rout

LONDON, July 28 (Reuters) – Oil prices fell to their lowest
point in nearly six months on Tuesday as a meltdown in Chinese
equities deepened doubts about the outlook for crude demand in
the world’s top commodities consumer.

China’s already volatile benchmark stock index, with
a combined market capitalisation of $4.6 trillion, has lost 10
percent in the last two days of trade.

    • About Amanda

      "I moderate the Global Markets Forum, a Reuters online community for financial professionals. Based in London, I have worked at Reuters for over ten years, reporting from both London and New York on foreign exchange, macroeconomics, government bonds and commodities."
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