Commodities and Energy Page Editor: David Gregorio, New York newsroom, 646-223-6225 Provided by: Reuters News Updated: 27 Mei 2009 3:40:41 (GMT+07:00)
Oil hits 6-month high on confidence data, Saudi NEW YORK, May 26 (Reuters) - Oil hit a fresh six-month high on Tuesday, bolstered by U.S. consumer confidence data and comments from OPEC kingpin Saudi Arabia that prices may continue to rise. Story ID: nSYD496746 Rio cuts iron ore price 33 pct, China unsatisfied SYDNEY, May 26 (Reuters) - Rio Tinto has agreed to cut key iron ore prices to Japanese steelmakers by a third in this year's first contract, setting a benchmark analysts say China will almost certainly reject after six years of surging prices. Story ID: nSP498033 OPEC set to stay course, hopes oil rallies more VIENNA, May 26 (Reuters) - OPEC ministers are expected to leave output unchanged at their meeting in Vienna this week, as they pin their hopes on a sustained oil price rally in defiance of swollen stocks and depleted demand. Story ID: nLQ937932 Ukraine to sell $3.5 bln more Kyoto carbon rights BARCELONA, May 26 (Reuters) - Ukraine is in advanced talks with three companies to sell at least 250 million carbon emission rights under the Kyoto Protocol, worth up to $3.5 billion according to Reuters calculations, sources said on Tuesday. Story ID: nLQ415018 U.S. says climate policies among world's toughest PARIS, May 26 (Reuters) - Washington defended its plans to cut its greenhouse gas emissions as among the most ambitious in the world on Tuesday as major economies meeting in Paris rallied around a Mexican plan to raise cash to fight climate change. Story ID: nLQ382996 Copper ends firm on upbeat data, but China weighs NEW YORK/LONDON, May 26 (Reuters) - Copper prices erased earlier losses and closed near session highs on Tuesday as upbeat U.S. consumer confidence data and bullish technical momentum helped offset investor concerns over domestic copper sales by China. Story ID: nLQ266280 Gold drops on dollar rise, ETF holdings gain NEW YORK, May 26 (Reuters) - Gold dropped on Tuesday as a stronger dollar prompted profit taking, but the first notable rise in the bullion holdings of gold-backed exchange-traded funds in recent months indicated investment interest. Story ID: nLQ684638 Oil to average over $52 a barrel in 2009 LONDON, May 26 (Reuters) - U.S. crude oil is expected to average over $52 a barrel in 2009, a Reuters poll showed on Tuesday, as analysts raised their consensus forecast for the second consecutive month. Story ID: nLM932709 Soybeans rally nearly 2 percent on tight stocks CHICAGO, May 26 (Reuters) - U.S. soybean futures rose nearly 2 percent on Tuesday amid shrinking supplies of soy and as soaring equities encouraged funds to buy commodities. Story ID: nLQ25248 Funds push NY sugar to close at near 3-year peak NEW YORK, May 26 (Reuters) - Raw sugar futures jumped to close at a near three-year high Tuesday, reversing higher on fund buying as the U.S. dollar pared earlier gains, while bullish fundamentals kept the trend pointing higher, traders said. Story ID: nN26513135 Mongolia eyes its own nuclear power plant ULAN BATOR, May 26 (Reuters) - Mongolia is hoping to eventually build its own nuclear power plant and has already begun a feasibility study on the project, the head of the country's new Nuclear Energy Agency said on Tuesday. Story ID: nPEK231106 Copyright C 2009 Reuters News
