Nickel price highest in more than a month

Nickel prices jumped to their highest point in more than a month overnight after mining company Vale slashed its annual output target for the stainless steel ingredient due to the impact of the coronavirus pandemic. Benchmark nickel on the London Metal Exchange (LME)...

Gold price dips along with equities

Gold prices have fallen, a day after scaling over seven-year highs, as the dollar firmed and investors booked profits, although concerns of a global recession put a floor under prices. Spot gold fell 0.6 per cent to $US1,716.79 per ounce. On Tuesday, prices had jumped...

Oil price up on hopes of production cuts

Oil futures strengthened late in the session, buoyed by hopes that OPEC and its allies will strike a production cut agreement on Thursday. Crude has collapsed in 2020 because of a slide in demand due to the coronavirus pandemic and excess supply. Brent dropped to...

Saudi-Russia dispute to pressure oil price

Global benchmark oil prices are expected to open lower as a dispute between top crude exporters Russia and Saudi Arabia raises concerns of another collapse in talks to curb production at a meeting this week. The move lower may be muted as the market reacts to US...

Wall Street gains on oil price recovery

Wall Street has bounced as a recovery in oil prices outweighed the shock of weekly jobless claims soaring past six million. Initial claims for unemployment benefits last week exceeded the top end of analysts’ estimates at 5.25 million, and US President Donald...