ARA gasoil stocks still at high level despite drop

Jul 03, 2015 10:33 am UTC| Commentary

This week saw ARA gasoil stocks fall by 112,000 tons after they had risen a week earlier to their highest level since the data series began in early 2008.Stocks are still well above last years level and 30% above the...

Decline in US drilling activity stopped

Jul 03, 2015 10:30 am UTC| Commentary

Oil prices shed their early gains again and closed trading more or less unchanged. They find themselves under renewed pressure this morning. Brent has fallen to below $62 per barrel, putting it at the bottom end of the...

US economy appears to be back on track

Jul 03, 2015 10:07 am UTC| Commentary

The US economy appears to be back on track following the growth slowdown in Q1. Economic indicators, particularly from the labour market and consumer data, have improvedmarkedly of late. The Vice Chairman of the Federal...

US sold more gold coins again in June

Jul 03, 2015 09:52 am UTC| Commentary

US labour market data which were somewhat weaker than expected caused the US dollar to depreciate yesterday, lending support to the gold price. After initially falling to a 3½-month low of $1,157 per troy ounce, it...

RBA to keep interest rate at 2%

Jul 03, 2015 09:46 am UTC| Commentary

The RBA lowered its key interest rate in February and May to 2% in a move to ease the structural adjustment of the economy to cope with the end of the mining boom. Although the weaker AUD is also helping, as it improves...

BoE MPC members differ on rate change

Jul 03, 2015 08:50 am UTC| Commentary

Mr Haldane, chief economist of EoB argued in a speech that growth risks are skewed to the downside and he has "considerable sympathy" with the argument that interest rates should be "lower for longer" in order to avoid...

USA services are still the growth driver

Jul 03, 2015 08:06 am UTC| Commentary

While US industry is suffering from the sluggish global economy and the strong dollar of late, the strongest growth impetus has been from sectors outside manufacturing.In May, the nonmanufacturing ISM index printed at an...