Commodities and Energy Page Editor: Michael Roddy, London newsroom +44 207 542 8075 Provided by: Reuters News Updated: 22 September 2008 22:42:30 (GMT+07:00)
Oil rises $3 on banking rescue plan LONDON, Sept 22 (Reuters) - Oil rose more than $3 to $108 a barrel on Monday, continuing a rally sparked by the United States' rescue plan for its financial sector. Story ID: nSYD356880 Gold, precious metals soar as dollar weakens LONDON, Sept 22 (Reuters) - Gold soared more than 2 percent on Monday as the dollar weakened and fears spread that a $700 billion U.S. plan to stabilise the financial sector may not be enough to avert further trouble ahead. Story ID: nLM553371 Nearly 13,000 in hospital in China milk scandal BEIJING, Sept 22 (Reuters) - The number of Chinese infants sick in hospital after drinking tainted milk formula doubled to nearly 13,000 and Premier Wen Jiabao threatened harsh punishment for culprits in the latest blight on the "made-in-China" brand. Story ID: nPEK80229 CBOT corn, soy, wheat higher, led by crude, gold CHICAGO, Sept 22 (Reuters) - Corn, soybean and wheat futures on the Chicago Board of Trade opened higher on Monday, following early strength in crude oil and gold as the U.S. government's bank bailout plan boosted commodities overall, traders said. Story ID: nN22288763 Copper rallies to one-week high as dollar slips LONDON, Sept 22 (Reuters) - Copper rallied to a one-week high on Monday as the dollar fell against the yen and the euro and as stocks fell in Asian warehouses, suggesting a pick-up of demand in China. Story ID: nLM590067 Ivory Coast says disbands BCC, begins reform ABIDJAN, Sept 22 (Reuters) - World number one cocoa grower Ivory Coast has disbanded its Coffee and Cocoa Bourse (BCC) marekting body and established a committee to manage the sector pending broader reform, the government said on Monday. Story ID: nLM725659 Australia cuts zinc, nickel outlook but stays upbeat SYDNEY, Sept 22 (Reuters) - Australia cut its estimates of annual zinc and nickel output on Monday, citing falling prices and a domestic energy crisis, but kept a bullish outlook for its giant mining industry despite fears of global recession. Story ID: nSYD369086 Indonesia cuts Oct palm oil export tax to 7.5 pct JAKARTA, Sept 22 (Reuters) - Indonesia's trade ministry said on Monday it has cut its palm oil export tax for October to 7.5 percent, from 10 percent in September. Story ID: nJKF000074 Saudi trims oil supply to majors, US-industry sources DUBAI, Sept 22 (Reuters) - Top oil exporter Saudi Arabia has trimmed oil supplies to international majors and U.S. refiners since the start of September, industry sources said on Monday. Story ID: nLM593046 Metals tycoon to buy half of Russia's RenCap MOSCOW, Sept 22 (Reuters) - Renaissance Capital, one of Russia's biggest home grown investment banks, has followed Western peers' example and sold 50 percent to a local tycoon a week after a liquidity crunch sent Russian stocks into freefall. Story ID: nLM668515 Copyright © 2008 Reuters News
