Brent Oil Headed to a Weekly Gain

May 17, 2013
Brent Oil Headed to a Weekly Gain

Brent crude rebounded from an early decline and rose above $104 today, heading for a weekly high. Gains however were limited by a weaker demand. Brent’s price was supported by a rally in refined products, steadier European equities and an Iraqi pipeline shutdown due to a bomb attack. Timothy Evans, […]

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Natural Gas to Remain Below $4

May 17, 2013
Natural Gas to Remain Below $4

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 […]

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Oil Probe Circle Widens (Updated)

May 17, 2013
Oil Probe Circle Widens (Updated)

Neste Oil Oyj, Finland’s 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, […]

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Gold Outlook Still Bearish

May 17, 2013
Gold Outlook Still Bearish

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 […]

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WTI Fluctuates After Biggest Gain in a Week

May 17, 2013
WTI Fluctuates After Biggest Gain in a Week

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 […]

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Natural Gas Drops 3%

May 16, 2013
Natural Gas Drops 3%

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 […]

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WTI Crude Recovers After a Steady Fall

May 16, 2013
WTI Crude Recovers After a Steady Fall

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 […]

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Sugar on a Record Low Since 2010

May 16, 2013
Sugar on a Record Low Since 2010

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 Brazil’s center-south region, where around 90% of the country’s production is situated. Millers crushed 31.5 million tons of cane in the […]

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Soybeans Advance Following Increased Demand in China

May 16, 2013
Soybeans Advance Following Increased Demand in China

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 […]

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Soros Joins Gold-Stake Cuts

May 16, 2013
Soros Joins Gold-Stake Cuts

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 […]

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