Ahead of the OPEC and its allies (OPEC+) JMMC meeting scheduled on Wednesday, Russian Energy Minister Alexander Novak was tested positive for coronavirus. However, the Russian media suggested that the minister will participate in the OPEC+ meeting online, via a video link.

CME Group’s advanced prints for Natural Gas futures markets saw open interest shrinking by around 6.3K contracts at the beginning of the week after two builds in a row. In addition, volume extended the erratic performance and went down by around 288.3K contracts. Natural Gas met resistance around $2.40/MMBtuPrices of …

The dollar fell while commodity currencies rose Monday (August 17th) as investors welcomed the delay in reviewing the US-China trade agreement without compromising it. Early transactions in London witnessed limited movements in light of a state of caution following weak data and uncertainty at the beginning of a week that …

The US NY Empire State Manufacturing Index fell more than expected in August. It came at 3.7, declined from 17.2 in July and fell short of 15.0 expected. New orders -1.7 vs +13.9 last month, little changed. Employment jumped higher to +2.4 vs +0.4 last month. Shipments +6.7 vs +18.5 …

The Chinese state media reported on Monday, citing a statement from China’s cabinet saying that China will not resort to flood-like stimulus, adding that they will keep liquidity reasonably ample. This comes after the PBOC injected liquidity into the system, offering 700bn yuan in a medium term lending facility earlier …

US Commerce Secretary Wilbur Ross told Fox Business Network on Monday that China has been buying large amounts of US agricultural products. Other comments: “China-US trade talks continue at various levels.” “The US is eager for China to continue buying American farm products.” “Trump is looking to close loopholes to …

OPEC+ is meeting on 19 August to assess its supply deal as the world struggles to control the coronavirus spread that has a damaging effect on economies and fuel demand globally. The Joint Ministerial Monitoring Committee (JMMC) will gather on Wednesday to assess the compliance issue of the organization and …

Japan recorded its largest economic contraction in Q2 as the coronavirus pandemic crushed business and consumer spending, putting policymakers under pressure to take bolder action to prevent a deepening recession. Although the economy began to emerge from recession after easing the lockdown in late May, many analysts expect any rebound …

Germany’s central bank said on Monday that the German economy is poised for a rapid and broad recovery after an unprecedented contraction in peacetime in the spring, but a coronavirus vaccine may be necessary before a full recovery is possible, according to Reuters. “The clear and widespread recovery in macroeconomic …

The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9362 versus Friday’s fix at 6.9405