link to Brent price

link to WTl price

link to Exchange Rates

link to GBP/USD

link to GBP/EUR


Brent Crude & West Texas Light Charts..
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BP. and RDSB Charts.
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Gold and Cable Charts.
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Silver and Platinum Charts.
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GBP/USD
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GBP/EUR
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Spiking up as the news came out ........

Oil rises on Saudi offer to cut output as OPEC talks loom

* Sources tell Reuters Saudi Arabia could cut output
* Analysts cautious about upcoming oil producer meeting

LONDON, Sept 23 (Reuters) - Oil prices jumped on Friday after sources told Reuters Saudi Arabia could reduce its crude production should regional foe Iran cap its own output this year.

The Saudi offer, ahead of next week's meeting of OPEC ministers trying to staunch oil price losses, has yet to be accepted by Tehran, three sources familiar with the discussions told Reuters.

Brent crude oil and U.S. West Texas Intermediate (WTI) futures turned positive immediately after the news, with the European benchmark jumping more than 1 percent.

By 1111 GMT, Brent futures were at $48.04 per barrel, up 39 cents or 0.82 percent. WTI futures were trading at $46.40 per barrel, up 8 cents or 0.17 percent.

Oil futures started the day in negative territory as investors held little hope of a breakthrough to prop up prices at talks held by members of the Organization of the Petroleum Exporting Countries in Algeria next week.

But the Saudi offer revives the notion, as signalled by Riyadh and Tehran earlier in the year, that they could coordinate to support the market.

If agreed, such a deal would shift Saudi Arabia's strategy of defending its share of the global market, despite falling prices, at the expense of other producing countries, especially those where oil production is more expensive.

Market observers say a deal to freeze crude output across 14 OPEC members spanning Asia, the Middle East and the Americas is still unlikely. However, some sort of cooperation among exporters should prevent production from ballooning further.

ANZ bank said "discussions between Saudi Arabia and Iran this week suggest they are keen to get something done ... which raises the possibility of a sharp reaction to the upside in prices if an agreement is reached".

OPEC members will meet on the sidelines of the International Energy Forum, which groups producers and consumers, from Sept. 26-28. Non-OPEC producer Russia is also attending the forum.

Oil prices retreat as investors wait for clarity on OPEC deal

FTSE buoyed by oil shares after OPEC agrees supply curbs

Oil prices stable on planned OPEC cut, but current glut still weighs

Unfortunately due to changes at MAM, the charts in the header don't currently work!

I hope MAM can sort something PDQ!

link to Brent price

link to WTl price

link to GBP/USD

link to GBP/EUR

A good day for the brave!

OIL spiking up again this afternoon after slowly losing the ground from yesterday's rise this morning
Brent futures

Bloomberg today - "A Trump presidency could send bullion to $1,395 an ounce, according to more than 20 analysts and traders surveyed by Bloomberg before the vote. Futures were up 2.2 percent to $1,303.51 on Wednesday. Gold is having one of its heaviest trading days ever as investors rushed to havens on concern Trump’s presidency will upend decades of U.S. economic and foreign policy. About 570,000 futures changed hands by 8:06 a.m. in New York, based on data using the most-active Comex contract."

Oil demand won't peak before 2040, despite Paris deal: IEA

Era of fossil fuels appears far from over: IEA chief
5 Hours Ago
IEA Executive Director Fatih Birol gives his views on what a Donald Trump presidency will mean for the oil and gas industry, as well as COP21.

video - Era of fossil fuels appears far from over: IEA chief

Oil down on firmer dollar, set for weekly gain on OPEC hopes

Iraq to Offer New Proposals to Implement OPEC Oil Output Cut - Nov. 20, 2016 5:45 p.m. ET

Proposals to be discussed at Vienna technical meeting Monday and Tuesday

LONDON—Iraq will offer three new proposals at a meeting in Vienna this coming week to discuss implementing an OPEC accord to cut output, Iraq’s Oil Minister Jabbar al-Luaibi said late Sunday, in the latest sign the country is inching closer to resolving its differences with the cartel.

The options will be consistent with OPEC policy and are designed to bolster the unity of the group, said Mr. Luaibi, who has until very recently been at loggerheads with the group over Iraq’s contribution to the reduction. He declined to give details over the proposals.

“Our alternatives are based on other variables and will make it easier for OPEC members to make a decision,” he told The Wall Street Journal.

“All of the options will be logical and in line with OPEC policy,” he added.

The Organization of the Petroleum Exporting Countries agreed in September to reduce output to help draw down a global supply glut that is weighing on oil prices, but left the details of the plan to be worked out later. The group is holding a so-called “technical meeting” at their Vienna headquarters Monday and Tuesday to discuss the mechanism for implementing the September agreement. The technical meeting will prepare for OPEC’s ministerial meeting Nov. 30 in Vienna.

Iraq has been ramping up its oil production for more than two years. Mr. Luaibi has said Iraq should be exempted from cutting production because it needs the revenues to prosecute a costly war against Islamic State. But Friday, Mr. Luaibi said he is optimistic that OPEC will reach an agreement at the Nov. 30 meeting. His comments were followed by similarly positive comments from Iran, which had also been reluctant to rein in its output.

Http://www.wsj.com/articles/iraq-to-offer-new-proposals-to-implement-opec-oil-output-cut-1479681923

Brent crude 5 days

Skinny, apart from the daily Gold chart in the header, all others are now missing, which I assume is due to the revised formatting by MAM?

Unfortunately yes Harry - I've just put the direct links to them in the header.

Gold currently in a down trend. IG hoping for a bounce to $1250 but aware that little support for gold between current price and $1100. That's from a trading perspective, but a few gold miners' sp's also closely correlated to the gold price, so not looking good for them either.