Energy Update
TOKYO, Oct 24 (Reuters) - Japan's biggest steelmaker Nippon
Steel & Sumitomo Metal Corp is seeking an increase in
product prices of about 10,000 yen ($96) per tonne from
customers amid surging coking coal prices and weak margins, its
president said.
The recent invitation by OPEC for US officials to join in production freeze talks is clearly a nod to the production powerhouse Americas has become as a result of the shale revolution.
(Mon, 24 Oct 2016) Short positions in West Texas Intermediate (WTI) crude oil futures contracts held by producers or merchants totaled more than 540,000 contracts as of October 11, 2016, the most since 2007, according to data from the U.S. Commodity Futures Trading Commission (CFTC).
LOS ANGELES, Oct 23 (Reuters) - Hundreds of people gathered
in Los Angeles on Sunday to protest against climate change and
show support for activists demonstrating against the
construction of an oil pipeline in North Dakota.
SINGAPORE, Oct 24 (Reuters) - Oil prices fell early on
Monday as Iraq said it wanted to be exempt from any deal by
producer cartel OPEC to cut production to prop up the market,
and as U.S. drillers stepped up work.
LONDON, Oct 21 (Reuters) - While no steel maker will be
happy with the explosion in coking coal prices, Chinese mills
are the best placed to deal with the impact, given they are
nowhere near as exposed to spot prices as competitors in the
rest of Asia and Europe.
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