May 23, 2013 10:16 am
After the European Commissions probe into possible oil price manipulation started last week, the circle of companies to come under scrutiny has widened. Some of them are investigated, while others are asked to assist by providing information. Royal Dutch Shell, BP, Statoil – three of Europe’s biggest oil producers, and Platts – the oil-price data […]
Read moreMay 23, 2013 9:48 am
During the European morning trade on the Comex division of the New York Mercantile Exchange copper for July delivery fell 2,3% on the day and traded at $3,302 a pound. Copper price was strongly influenced by the Advance Manufacturing Purchasing Managers’ Index for China, conducted by Markit Economics and HSBC Holdings Plc,for May. The indicator […]
Read moreMay 23, 2013 9:10 am
Brent crude fell today to a three-week low below $101 together with other commodities as WTI crude, silver, platinum and palladium following negative economy information about Chinas factory activity. The Advance Manufacturing PMI for China for May, conducted by Markit Economics and HSBC Holdings Plc, dropped to 49,6, which is a negative value as 50 […]
Read moreMay 23, 2013 8:07 am
Data showed that Chinese manufacturing slowed down for the first time in seven months, which caused equities to drop, thus increasing golds attractiveness as a haven for wealth preservation and boosted its demand. Following an earlier decline, the precious metal rose by 0,5% and traded at $1 376,86 at 2.06 pm in Singapore. The Advance […]
Read moreMay 23, 2013 7:02 am
WTI crude fell for a third day on Wednesday following official data by the U.S. Energy Information Administration, which stated that cure reserves decreased less than expected and gasoline stockpiles rose way more than forecast. Crude reserves fell by 338 000 barrels, compared to a 778 000 barrels decline expectation. Gasoline stockpiles rose 3,02 million […]
Read moreMay 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 […]
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