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Commodities

Saudis backtrack, now expect to have one-third of crude output back online by Monday

Saudi Arabia’s national oil company expects to restore roughly a third of crude output disrupted due to a weekend attack by day’s end on Monday, Saudi officials said, a step back from earlier hopes that it could quickly resume full production by the start of the week. 2:50 p.m. Today

Saudi attack should have limited effect on U.S.

The latest drone strikes on Saudi Arabian oil-production facilities likely would have a limited direct effect on the U.S. economy, but could result in higher gas prices, potentially exerting an additional drag on slowing global growth, economists say. 2:24 p.m. Today

Lean hogs rally as China exempts pork from additional tariffs on U.S. goods

Beijing’s decision on Friday to exempt pork from additional tariffs on U.S. goods follows a spike in China’s pork prices, as the nation continues to struggle with the decimation of its hog population that continues to suffer from African swine fever. 10:08 a.m. Sept. 14, 2019

Commodities Headlines

 - iStockphoto
Oil logs a weekly loss amid worries about rise in supplies

Oil futures finish lower on Friday, with both U.S. and international benchmark crude posting sizable weekly falls as worries about the prospect of rising inventories appeared to overshadow a U.S.-China tariff detente.

3:15 p.m. Sept. 13, 2019
 - Getty Images
Gold ends lower, suffers a weekly loss as bond yields rise

Gold futures end lower on Friday, giving up earlier gains to feed a loss for the week as appetite returns for assets perceived as risky and bond yields climb.

2:14 p.m. Sept. 13, 2019
 - AFP/Getty Images
Why Russian and Chinese central banks will keep buying gold

Emerging markets have beefed up gold holdings, undeterred by prices near their highest levels in more than six years, as countries such as Russia and China diversify their foreign-exchange reserves—a trend that is likely to continue.

1:48 p.m. Sept. 13, 2019
Gold futures settle below $1,500 an ounce, down 1.1% for the week

Gold futures fell on Friday, posting a loss of 1.1% for the week, as strength in U.S. bond yields dulled appetite for the haven metal, ahead of the Federal Reserve's decision on interest rates next week. December gold lost $7.90, or 0.5%, to settle at $1,499.50 on Comex.

1:42 p.m. Sept. 13, 2019
Oil pares losses after Baker Hughes reports a 4th straight weekly decline in the U.S. oil-rig count

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil declined by five to 733 this week. That followed three consecutive weekly declines in the oil-rig count. The total active U.S. rig count, meanwhile, also fell by 12 to 886, according to Baker Hughes. October West Texas Intermediate crude was down 8 cents, or 0.2%, at $55.01 a barrel. It was trading lower for the session at $54.96 before the rig data.

1:06 p.m. Sept. 13, 2019
 - Reuters
Oil ends with a loss as OPEC+ puts talk of deeper output cuts on hold until December

Oil futures finish with a loss on Thursday as OPEC and its allies reiterated their commitment to current output cuts, but failed to announce bigger production cuts as some had expected in the wake of easing tensions between the U.S. and Iran.

3:43 p.m. Sept. 12, 2019
Oil futures end lower for a third session in a row

Oil futures finished lower for a third session in a row on Thursday. A meeting of the Organization of the Petroleum Exporting Countries and its allies in Abu Dhabi "ended without a deeper output cut" and with "a pledge to clean up compliance to lower collective output by several hundred thousand barrels per day over a two-month period," strategists at RBC Capital Markets wrote in a note Thursday. October West Texas Intermediate oil fell 66 cents, or 1.2%, to settle at $55.09 a barrel on the New York Mercantile Exchange. That was the lowest finish since Sept. 3, FactSet data show.

2:38 p.m. Sept. 12, 2019
 - Reuters
Palladium prices top $1,600 to tally highest settlement ever

Palladium futures top $1,600 an ounce on Thursday to settle at their highest level on record, shaking off recent data showing a decline in Chinese auto sales, as emissions standards fuel bets surrounding strong demand for the metal used in pollution-control devices.

2:00 p.m. Sept. 12, 2019

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