Oil prices are on the rise in early morning trade and are
trending closer to the psychologically critical $90 a barrel mark
amid a decline in crude inventories coupled with an increase in
global demand, especially in China.
Gold too is up over worries about Europe's financial situation,
particularly Ireland's sovereign debt.
At 0750 ET, Brent crude is up 0.1% at $89.08 a barrel, while
light sweet crude is up 0.6% at $88.30 a barrel, and natural gas is
up 1.3% at $4.10 a million British thermal units.
Gold is up nearly 1% at $1,412.90 an ounce, while silver is up
2.9% at $27.64 an ounce, and copper is up 2.5% at $4.10 a
Salamander Energy plc (SMDR) will buy Indonesia's Elnusa
Bangkanai Energy Ltd for $11.2 million to bolster its foothold in
the country. Elnusa has a 69% stake in the Bangkanai prospect that
contains the Kerendan gas field, which has about 157 billion cubic
feet of gas.
DNO International ASA (
) said oil exports from Iraq's Kurdish region could resume once a
government is firmly established in Baghdad, according to
Ship fuel supplier Aegean Marine Petroleum Network Inc (
) reported third quarter results that fell short of analysts'
estimates, and has plunged over 38% before the opening bell on the
In the mining sector, AngloGold Ashanti Ltd (
) projected full year production of gold at 4.5 million ounces,
which is at the lower end of its guidance due to delays and
shutdowns at its mines in Ghana and South Africa. In August, the
company had projected output of 4.5 million and 4.7 million