- Global gold demand rose 36 percent in the second quarter to 1,050 tonnes , World Gold Council country manager CihanGoksel told a WGC meeting in Istanbul on Tuesday.
- Norwegian aluminium producer Norsk Hydro tripled its cost-cutting goal on Wednesday, saying it now intends to reduce smelter operating costs by $300 per tonne of metal produced.
- U.S. crude oil inventories likely fell last week due to lower imports from Canada following the Enbridge pipeline outage and as tankers navigated around tropica l weather systems in the Atlantic, anexpanded Reuters survey of analysts on Tuesday showed.
- Japanese refiner Idemitsu Kosan Co said it shut on Tuesday a 120,000 barrels per day crude distillation unit (CDU) at its Tokuyama refinery as part of a bid to curb refining amid sluggish domestic demand.
- OPEC does not need to change its oil output policy when it meets in October, Qatar's oil minister was quoted as saying in the Nikkei business daily on Wednesday.
