May 17, 2013 9:43 am
According to a KPMG LLP Global Energy Institute survey of U.S. energy executives natural gas will keep trading below $4 per million British thermal units for the rest of the year. Gas for delivery in June dropped yesterday to $3.932, which is a 12% decrease from the 2013 high on May 1 at $4.444. News […]
Read moreMay 17, 2013 8:44 am
Neste Oil Oyj, Finlands only refiner, joined the side of investigated oil companies by the European Commission. Neste announced it was asked to provide information about potential manipulation of global crude and biofuel markets. Representatives said the company is not a target of the investigation and will cooperate. Statoil ASA, one of the investigated refiners, […]
Read moreMay 17, 2013 7:42 am
According to a Bloomberg survey, 17 out of 26 market analysts predict a bearish trend for the gold with 8 expecting a bullish market and 3 are neutral. After news came out yesterday that George Soros, billionaire investor, joined BlackRock Inc. and Northern Trust Corp. in cutting his holdings in gold backed ETPs on March […]
Read moreMay 17, 2013 6:48 am
WTI crude fell towards $95 a barrel after rising most in a week as the disappointing U.S. data brought back worries over lower demand. Price keeps swinging between gains and losses and further fluctuations are expected today with the upcoming economic data for Canada – CPI and Wholesale Sales. The USD/CAD correlation is strong and […]
Read moreMay 16, 2013 3:03 pm
Natural gas plunged 3% after the U.S. Energy Information Administration recently published data showing U.S. gas reserves increased more than expected. Natural gas storage rose by 99 million cubic feet last week, above the forecast for an increase of 95 billion cubic feet. The five-year average change for the week stood at 69 billion cubic […]
Read moreMay 16, 2013 2:50 pm
West Texas Intermediate crude rose following the released data today according to which more Americans than projected have filed applications for unemployment benefits and U.S. consumer prices decreased. The Consumer Price Index (CPI) dropped 0,4% today, going worse than the 0,2% decrease expectation. Futures climbed after jobless claims exceeded all forecasts in a Bloomberg survey […]
Read moreMay 16, 2013 12:47 pm
Sugar fell to its weakest level since August 9, 2010. The reason lies in the forecast for a record harvest of 589.6 million metric tons of sugar cane in Brazils center-south region, where around 90% of the countrys production is situated. Millers crushed 31.5 million tons of cane in the second half of April compared […]
Read moreMay 16, 2013 12:06 pm
Based on increased demand for U.S. supplies by China- the biggest importer of the oilseed, soybeans rose in Chicago. China is showing continuing interest for soybeans, which accounts for a 0,2% price increase for the day. According to data compiled by Bloomberg, China imported 3.98 million tons of soybeans in April. According to the grains […]
Read moreMay 16, 2013 9:29 am
George Soros, billionaire investor, joined Northern Trust Corp. and BlackRock Inc. in lowering investments in gold backed ETPs. That happened before the market went bearish last month, followed by the deepest plunge in history April 15 and thus erasing $42 billion from the value of ETP assets this year, according to data compiled by Bloomberg. […]
Read moreMay 16, 2013 8:13 am
West Texas Intermediate continues its bearish trend amid signs of economic weakness in most of its major consumers. Data released yesterday showed below expectations economic growth in Germany, slip into recession by France, Italy performed worse than forecast and the U.S. showed slowdown in the industrial sector. This and the cut estimate of Chinas GDP […]
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