Oil prices rose on Friday, reversing some of the previous day's sharp losses as stock markets strengthened and the U.S. dollar slipped, though gains were capped by the coronavirus situation in major oil consumer India.
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RIO DE JANEIRO, May 14 (Reuters) - Asian spot prices for liquefied natural gas (LNG) rose this week on the back of tightened supplies around the world.
The average LNG price for June delivery into Northeast Asia LNG-AS was estimated at about $10.15 per million British thermal units (mmBtu), up $0.50 from the previous week, industry sources said.
The price for July delivery was estimated at about $10.25 per mmBtu, according to traders, almost twice as much February levels ($5.60).
Export issues in Australia, Peru, Indonesia, Malaysia and Nigeria have contributed to a tight global supply at a time when Japan and Korea, among the world’s largest buyers, are keeping LNG demand strong for summer power generation, industry sources said.
Global DNS, DHCP, & IPAM Market Research Report by Organization Size (Large Enterprises and Small and Medium-Sized Enterprises), by Component (Services and.
Gold eyes second straight weekly gain (Adds comments, updates prices)
May 14 (Reuters) - Gold rose on Friday, as the dollar pulled back from one-week highs after U.S. Federal Reserve officials downplayed an imminent rise in interest rates despite a sharp rise in inflation.
Spot gold gained 0.5% at $1,835.11 per ounce by 1158 GMT. U.S. gold futures rose 0.6% to $1,835.30.
The dollar index was down 0.3% against its rivals, making gold cheaper for other holders of other currencies.
“The Fed is not going to throw the economic recovery off course by raising rates,” StoneX analyst Rhona O’Connell said. “There’s too much risk involved to start either aggressive tapering or raising rates because there is not enough underlying strength in the economy.”
By Reuters Staff
(Updates with official prices)
LONDON, May 14 (Reuters) - Copper prices were on course for their first weekly decline since the start of April on Friday as rising inflation fears and a dip in demand from China dragged prices down.
Benchmark copper on the London Metal Exchange (LME) was 1% lower at $10,239.50 a tonne in official trading, having scaled a record high of $10,747.50 on Monday.
It was down about 1.7% over the week.
Many analysts expect the metal used in construction and power to rise further as the global economy rebounds and moves from fossil fuels to copper-intensive electrification.
“Supply is relatively tight while demand keeps expanding,” said WisdomTree analyst Nitesh Shah. “I think it will start going up again.”