May 22, 2013 3:14 pm
The U.S. crude oil inventories dropped for the week ending May 17 by 338 000 barrels to 394,6 million barrels, down from 394,9 million barrels in the preceding week. This is below the forecast, which predicted a decrease to 394,5 million barrels. WTI crude futures slipped 1,1% to $95.12 on the New York Mercantile Exchange […]
Read moreMay 22, 2013 2:29 pm
Natural gas declined for the first time since four days today after investors decided to cash out and secure gains after the fuel reached a three-week high earlier today. Still, increased demand continues to apply upward pressure on gas price due to the hot weather forecasts in the central parts of the U.S., which shot […]
Read moreMay 22, 2013 10:01 am
Copper and Silver gained today following shifting expectations about the outcome of Ben Bernankes testimony at the U.S. Joint Economic Committee. The minutes of Feds May meeting are also scheduled to be released later in the day. Silver went up 0,6% on the day and traded at $22.59 on the Comex division of the New […]
Read moreMay 22, 2013 9:00 am
Corn sunk for a third day following information by the USDA that as of Sunday, May 19, 71% of the U.S. corn crop was planted. U.S. farmers planted the most ever in a single week. The number has almost reached the five-year average, which is 79% and it is a drastic improvement compared to the […]
Read moreMay 22, 2013 7:58 am
Gold prices gained today following speculation that the Federal Reserve bank will continue with its $85 billion bond buying program (Quantitative Easing 3). Moves in gold prices this year have been tracking closely the shifting expectations about the possible scaling back of the stimulus program. Last week gold was under heavy pressure following statements by […]
Read moreMay 22, 2013 7:13 am
Natural gas kept rising on Tuesday and traded 2,47% higher at $4,191 per million British units as weather forecasters predicted higher-than-average temperatures in the central parts of the U.S. When warm weather is expected, natural gas surges as increased electricity demand to power air-conditioning calls for more supply of the fuel, which is used for […]
Read moreMay 22, 2013 6:54 am
WTI crude prices dipped below $96 today amid concerns of lower demand and uncertainty over the end of the Quantitatve Easing program. Ben Bernanke is scheduled today to shed some light into that matter after some FED representatives voiced opinion lately that the U.S. economy has recovered enough and the labor market is now stable. […]
Read moreMay 21, 2013 2:02 pm
Demand for platinum and palladium is increasing amid decline in supply. Generally the price of platinum is more volatile than gold and is very dependable of the economys current state. During periods of sustained economic growth the price of platinum tends to be a lot higher than gold and the other way around. The reason […]
Read moreMay 21, 2013 10:52 am
Wheat for July delivery fell 1,4% on the day and traded at $6,7438 a bushel after earlier in the session it tumbled 1,5% and reached its weakest level since April 3. Wheat prices are experiencing downward pressure amid improved weather forecasts for crop developing in the Black Sea region, which is easing the concerns about […]
Read moreMay 21, 2013 9:18 am
According to data published by the General Administration of Customs today, Chinas copper imports dropped to 183 023 metric tons last month, its lowest level since June 2011. Exports sunk 52% to 29 072 tons compared to 60 642 tons in March. This is the first contraction in copper exports for the last eight months. […]
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