This Month
Iron ore above $US100 to deliver budget windfall next year
Market pundits say the government’s “too low” iron ore forecast – more than 50 per cent below current levels – will push the budget into a surplus.
- Joanne Tran
Oil steadies after longest decline in five years
Oil has dropped by about a fifth since late September as output surges in the US and other key producers.
- Updated
- Grant Smith and Yongchang Chin
Petrol prices drop 30¢ at the bowser as oil slumps
It is good news for motorists as NRMA says petrol prices are expected to fall further across the country, unless you live in Sydney.
- Joanne Tran
Oil’s brief relief rally fades as bearish sentiment settles in
US oil retreated below $US70 a barrel after slumping 11 per cent over the previous five sessions, the longest run of daily losses since February.
- Mia Gindis
Chinese lithium stocks surge, lifting hope rout almost done
China’s two biggest producers – Tianqi Lithium Corp and Ganfeng Lithium Group Co – closed up 6.5 per cent and 7 per cent in Hong Kong.
- Bloomberg News
Oil drops to a five-month low as US crude exports fuel pessimism
US benchmark West Texas Intermediate fell more than 4 per cent to break below $US70 a barrel. Brent crude slid below the $US75 mark.
- Julia Fanzeres and Alex Longley
Vale says China can’t control price of iron ore
“The rule of economics [is] going to drive the price, the rule meaning supply and demand,” Vale chief executive Eduardo Bartolomeo says.
- Mariana Durao and Thomas Biesheuvel
Gold price swings dramatically after surging to record
The precious metal rallied in Asia only to be sold off in the US amid signs that traders’ aggressive pricing of Federal Reserve rate cuts may have gone too far.
- Sybilla Gross and Eddie Spence
Oil extends losses amid pessimism over swelling global supplies
Benchmark oil fell back below $US80 a barrel, and US oil tumbled below $US75 as the price outlook turned bleak.
- Mia Gindis and Alex Longley
November
China’s property stimulus creates iron ore price conundrum
Beijing is taking the most decisive steps yet to ease the impact of a devastating real estate crunch, but it’s also grappling with the price of iron ore.
- Bloomberg News
Angola, Nigeria target higher oil output amid OPEC+ talks
Angolan OPEC governor Estevao Pedro said it was “fighting” to boost production and that investment was being made to make that happen.
- Alex Lawler, Ahmad Ghaddar and Maha El Dahan
Oil plunges after OPEC+ meeting delayed as talks hit turbulence
Brent crude tumbled more than 4 per cent, briefly falling below $79 a barrel, amid Saudi dissatisfaction with other members’ oil production levels.
- Fiona MacDonald, Nayla Razzouk and Salma El Wardany
Oil rebounds on expectations OPEC will further cut output
Volatility swung through oil markets again, propelling crude 4 per cent higher in New York’s final session of the week.
- Timothy Moore
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Oil plunges to July low, fuelled by swelling supplies
Brent crude settled 4.6 per cent lower, and US oil tumbled 4.9 per cent, as selling pushed the commodity through key support levels.
- Julia Fanzeres and Mia Gindis
SQM sees lithium glut pushing down prices through year-end
SQM has “seen some softening of demand outside China”, an executive said, though the company held its forecast for global demand to rise 20 per cent this year.
- James Attwood
Diamond world takes radical steps to stop price plunge
With prices in free fall around the globe, slowing demand and swelling inventory has prompted one-time monopoly De Beers to take unprecedented action.
- Thomas Biesheuvel
Cattle market on the rebound after 70pc price plunge
A much welcome rain boon has halted the tumble in cattle and beef prices, but farmers still need to badly reduce their flocks and herds for a major improvement.
- Cecile Lefort
Petrol prices to drop as Middle East supply fears ease
NRMA said prices in some Australian cities were hitting the top of their cycle as geopolitical tensions in the Middle East appeared to have subsided.
- Joshua Peach
China steel-making boss says iron ore prices ‘unreasonable’
Iron ore futures in Singapore slipped on Wednesday as the president of a state-run company warned that the elevated costs were squeezing margins.
- Joshua Peach and Tim Moore
