May 30, 2013 8:40 am
Brent oil dropped on Wednesday by $1.80, its biggest fall since May 1. Oil prices fell to nearly $101 per barrel today amid disappointing U.S. GDP growth data. Gross Domestic Product for the first quarter was revised downwards to 2.4% compared to the 2.5% growth forecast. Initial jobless claims were more than forecast and equaled […]
Read moreMay 30, 2013 7:57 am
WTI crude traded near a four-week low after an industry report by the American Petroleum Institute yesterday showed gasoline inventories rose 1,9 million barrels, compared to forecasts of a 100 000 barrels increase. Distillate products rose by 3,1 million barrels, way above the expectations for a lack of volume change. After the settlement on Wednesday, […]
Read moreMay 30, 2013 7:07 am
Gold futures for August delivery gained 1.3%, reaching highest level since May 22 and traded at $1 410,40 a troy ounce as stocks and the greenback retreated. Spot gold traded at $1 411, 27 an ounce, up 1,3%. The dollar lost positions versus the Japanese yen and euro yesterday, thus shooting gold prices up. Nevertheless, […]
Read moreMay 29, 2013 3:25 pm
Natural gas dropped 1.35% today on the New York Mercantile Exchange and traded at $4,107 per million British thermal units. Futures came under selling pressure as the June contract expires at the end of Wednesdays trading session. Earlier it fell by 1.5% and traded at the lowest price since May 21 at $4,102. Contract expiration […]
Read moreMay 29, 2013 3:10 pm
Wheat for July delivery dropped 0,4% to $6,9075 a bushel on the Chicago Board of Trade, following a 5.5% slump in prices for the month. Prices are pressured by weather forecasts favorable for wheat cropping. Rains in central and eastern areas of the U.S. and in western Australia will be recharging soil moisture, which will […]
Read moreMay 29, 2013 2:10 pm
Gold futures for August delivery were 0,5% up on the day on the Comex division of the New York Mercantile Exchange and traded at $1 386,25 a troy ounce, following a 0,8% surge earlier in the day. Golds gain was supported by the weakened dollar, which lost positions against the euro and the Japanese yen. […]
Read moreMay 29, 2013 10:29 am
Copper fell on the London Metal Exchange following the International Monetary Funds prediction Chinas economy will grow below forecasts. The Asian nations economy is poised to grow 7,75% according to the IMF, down from 8%. The Organisation for Economic Co-operation and Development also cut its forecast to 7,8% from 8%. China is the metal’s biggest […]
Read moreMay 29, 2013 8:48 am
Corn reached a three-week high as the report by the U.S. Department of Agriculture showed yesterday corn crop planting pace was slowed down due to excessive rains. Parts of Iowa, Missouri, Illinois and South Dakota had 15 centimeters of rain. Nevertheless, farmers made good progress last week. The front-month July corn contract reached a three-week […]
Read moreMay 29, 2013 8:07 am
Gold kept on gaining and ended its second month of decline as lower prices lured investors, among which many central banks. On the Comex division of the New York Mercantile Exchange gold futures for August delivery were up 0,5% on the day and traded at $1 386,55. Russia and Kazakhstan have been diversifying assets by […]
Read moreMay 29, 2013 7:14 am
U.S. crude stockpiles probably have decreased by 750 000 barrels last week as refineries have increased their output, spurred by increased demand before Memorial Day. The holiday marks the american peak driving season ending in September. The U.S. Crude Oil Inventories report, scheduled for release tomorrow by the Energy Information Administration, will bring some light […]
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