Commodities News

Natural gas reserves drop above expectations

Natural gas fell to a 5 1/2-month low on Thursday as the EIA reported in its weekly report that the U.S. natural gas stockpiles gained more than analysts expected in the week ending August 2 and surpassed the five-year average amount of gas held in underground storage hubs. On the New York Mercantile Exchange, natural […] Read more

Gold retains gains after U.S. jobless data

Gold continued to trade on positive territory, remaining fairly unchanged after the U.S. Department of Labor reported that more people filed for initial unemployment payments last week than the preceding one. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1 294.60 per troy ounce at 13:53 […] Read more

Grain futures edge higher, soybeans gain on increased demand

Grain futures advanced on Thursday with wheat rebounding from yesterdays decline, while soybeans gained as the recently hit 18-month low spurred demand prior to USDAs crop production report on August 12. Corn gained as well. On the Chicago Board of Trade, soybeans for September delivery traded at $12.0988 a bushel at 9:03 GMT, up 0.91% […] Read more

Copper rises to a two-month high on upbeat China data

Copper hit a two-month high on Thursday following unexpectedly upbeat trade data in China, which fueled optimism over stabilizing economic activity in the worlds top consumer of the red metal. On the Comex division of the New York Mercantile Exchange, copper futures for September delivery traded at $3.251 a pound at 8:30 GMT, up 2.46% […] Read more

Gold rallies ahead of U.S. jobless data

Gold rose for a second day on Thursday ahead of U.S. unemployment data which is expected to show an increase in the number of people who filed for initial unemployment payments in the week ending August 3. Gains however remained limited amid comments from Fed presidents who recently said that the central bank may taper […] Read more

Oil gains for first time in five days on upbeat China data

Oil prices rose for the first time in five days as positive Chinese trade data surpassed analysts expectations, fueling optimism about improvement in the Chinese economic activity. On the New York Mercantile Exchange, WTI crude for September delivery traded at $104.65 a barrel at 7:05 GMT, up 0.26% on the day. Prices ranged between days […] Read more

Crude oil inventories drop less than expected

According to the Energy Information Administrations weekly report, U.S. crude oil inventories fell less than expected in the week ending August 2. Gasoline and distillate fuel gained, confounding analysts expectations. On the New York Mercantile Exchange, WTI crude for September delivery fell to $104.67 per barrel by 14:37 GMT, down 0.60% on the day. Futures […] Read more

Natural gas down almost 2% on mild weather

Natural gas extended its steep fall and declined for an eleventh straight day as weather forecasting models continued to point at below-normal temperatures for the season, reducing demand for the fuel. On the New York Mercantile Exchange, natural gas for September delivery hit a new days low at $3.254 per million British thermal units at […] Read more

Grain futures edge lower

Grain futures fell on Wednesday with corn and soybeans slipping slightly, while wheat made a moderate fall. Corn rebounded from Tuesdays 34-month low on speculation low prices may spur demand before USDAs crop production report on August 12. On the Chicago Board of Trade, corn futures for September delivery traded at $4.7213 a bushel at […] Read more

Copper declines on QE outlook

Copper fell on Wednesday as more unexpectedly upbeat U.S. data on Tuesday reinforced the view of some of Feds officials that the central banks monetary easing program might be tapered in September. On the New York Mercantile Exchange, copper futures for September delivery traded at $3.167 a pound at 8:52 GMT, down 0.18% on the […] Read more