U.S. Corn Export Sales Land on Low End of -2-

0916 GMT - European natural-gas prices continue to hover around their highest level this year on stronger demand and concerns over Russian flow disruptions. The benchmark Dutch TTF contract currently trades 0.8% lower at 45.84 euros a megawatt hour. Austrian energy company OMV said it intends to stop paying Gazprom for imports to recoup damages it won in an arbitration--a move that could result in curtailed flows. "The threat of an imminent cut to supply comes as the strain of the heating season emerges," ANZ Research says. Gas has been drawn down from EU facilities at the fastest pace in more than five years, according to analysts at the firm. EU storage is currently 92.1% full, with net withdrawals of more than 5.6 terawatt hours as of Wednesday. ([e-mail])

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Gold Futures Stabilize After Trump Win Sparked Selloff -- Market Talk

0910 GMT - Gold futures are broadly flat at $2,573.00 a troy ounce, stabilizing after more than a week of losses. Futures are down 4.9% on week. Gold has been weighed down by a rising U.S. dollar, retreating from an all-time high of $2,801.80/oz set in late October. The dollar rally was ignited by Donald Trump's victory in the U.S. presidential elections, say BMI analysts. The surge in dollar strength, coupled with uncertainty over the pace of Federal Reserve interest-rate cuts after Trump's win acted as a headwind to gold, BMI says. The Fed is now unlikely to ease monetary policy as much as the market had hoped for given Trump's inflationary policies, adding further pressure to gold prices. Higher interest rates typically dampen the appeal of non-interest-bearing bullion. ([e-mail])

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Oil Set for Weekly Loss Amid Demand Worries, Rate-Cut Slowdown Prospects -- Market Talk

0901 GMT - Oil futures are headed for weekly losses as a gloomy demand outlook and expectations of fewer rate cuts in the U.S. drive bearish sentiment. In early European trade, Brent crude and WTI both fall 1.2% to $71.67 and $67.82 a barrel, respectively. The benchmarks are down around 3% on the week, pressured by a sluggish demand outlook in top crude importer China. Meanwhile, the latest initial jobless claims data in the U.S. signals that "broad labour market conditions remain healthy and suggests no need for the Fed to ease in an accelerated fashion," ANZ Research analysts say in a note. Higher rates for longer can weigh on fuel demand and lead to a stronger U.S. dollar, making oil more expensive for holders of other currencies. ([e-mail])

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Copper Prices Higher but Still Pressured by Strong Dollar, High Inventories -- Market Talk

0307 GMT - Copper is higher in early Asian trading after prices dipped overnight. The Chinese market is likely to clear some inventories by the end of the year following recent price drops, Galaxy Futures analysts say in a commentary. Prices remain under pressure from a strong dollar and high copper inventory levels globally, they add. The three-month LME copper contract rises 0.8% to $9,064.00 a ton. ([e-mail])

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Iron Ore Lower Amid Rising Supply -- Market Talk

0247 GMT - Iron ore is lower in early Asian trading as rising supply weighed on sentiment, ANZ research analysts say in a note. Still, prices have stabilized in recent weeks, as China's stimulus measures are encouraging demand, they say. Prices are also likely to be supported by higher exports over the next few months as Chinese steel producers try to front-run a potential rise in tariffs when Trump takes office, the analysts add. The most-traded iron-ore contract on the Dalian Commodity Exchange is down 1.8% at CNY746.0/ton. ([e-mail])

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Gold Edges Higher; Upcoming Data to Determine Sentiment -- Market Talk

0051 GMT - Gold edges higher in early Asian trade, with spot gold up 0.1% at $2566.66/oz. Upcoming U.S. data should influence market sentiment. The precious metal's outlook remains bearish as markets await the release of U.S. retail sales due later today, says Bas Kooijman, CEO and asset manager at DHF Capital, in an email. In particular, the December Fed meeting outcome will be key, Kooijman adds. ([e-mail])

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(END) Dow Jones Newswires

11-15-24 1137ET