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Oil reserves rise against expectations

June 19, 2013 2:50 pm
The Energy Information Administration said in its weekly report that Crude Oil Inventories rose by 0.313 million barrels as of the week ending June 14. This is above the average range for this time of the year. Gasoline inventories rose by 183 000 barrels last week, also above the average. Distillate fuel inventories dropped by […] Read more

Gold off three-week low

June 19, 2013 1:05 pm
Gold gained on Wednesday, rebounding from a three-week low to which the precious metal dipped yesterday following U.S. data that showed low and steady inflation rate. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery were on the green side of the scale, gaining 0.30% for the day. The […] Read more

Soft futures mixed

June 19, 2013 12:23 pm
Soft futures were mixed on Wednesday. Sugar, cocoa and cotton slipped, while arabica and robusta coffee marked daily gains. On the ICE Futures U.S. Exchange, arabica coffee futures for September delivery traded at $1.2408 a pound at 12:21 GMT, up 0.40% on the day. Prices ranged between daily high and low at $1.2413 and $1.2343 […] Read more

Copper remains steady but low ahead of Fed meeting

June 19, 2013 11:33 am
Copper remained mostly unchanged on Wednesday after hitting a one-and-a-half month low yesterday as concerns arose Fed might scale back its monetary stimulus after one of the next FOMC meetings. Grim demand outlook from the industrial metals top consumer, China, also keeps weighing on prices. On the Comex division of the New York Mercantile Exchange, […] Read more

Grain futures mixed, corn drops on supply outlook

June 19, 2013 9:21 am
Grain futures were mixed on Wednesday with wheat and soybeans trading slightly higher on the day, while corn made a moderate plunge for the first time in three days as favorable weather forecasts supported crop developing. On the Chicago Mercantile Exchange, corn futures for July delivery lost 0.56% on the day, standing at $6.6925 a […] Read more

Natural gas extends gains amid warm weather forecasts

June 19, 2013 8:20 am
Natural gas gained for a third consecutive day on Wednesday after weather forecasts continued to show above-normal temperatures in the U.S. over the next week. On the New York Mercantile Exchange, natural gas for July delivery gained 0.40% on the day. The fuel traded at $3.921 per million British thermal units, ranging between daily high […] Read more

Gold remains near three-week low ahead of Fed meeting

June 19, 2013 7:30 am
Gold remained fairly unchanged in the early European session on Wednesday, trading near its three week low ahead of Ben Bernankes statement that will be held later today. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery gained 0.15% on the day. The precious metal traded at $1 368.95 […] Read more

WTI near nine-month high

June 19, 2013 6:45 am
Oil prices rose on Wednesday supported by the ongoing tension in the Middle East and the American Petroleum Institutes report, which showed oil reserves in the U.S. dropped last week. On the New York Mercantile Exchange, WTI crude for August delivery traded 0.19% higher on the day at $98.86 a barrel at 6:38 GMT. Light, […] Read more

Gold sinks to one-week low following U.S. data

June 18, 2013 2:37 pm
Gold dropped to a one-week low on Tuesday as mixed U.S. data spurred further speculation of a possible Quantitative Easing scale back after tomorrows Fed meeting or some of the next ones. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery dropped 1.31% on the day, standing at $1 […] Read more

Oil erases earlier losses on U.S. data

June 18, 2013 1:53 pm
Oil rebounded on Tuesday and erased earlier losses after U.S. economic indicators generally met expectations and supported prices on increased demand speculations. WTI rose back above $98 a barrel and Brent surpassed the $106 mark. On the New York Mercantile Exchange, WTI crude futures for August delivery rose to $98.39 a barrel at 13:44 GMT, […] Read more