Commodities News

Natural gas slumps as inventories gain more than expected

Natural gas extended its steep fall on Thursday after the Energy Information Administration reported gas inventories rose more than analysts expected last week, indicating weak demand. On the New York Mercantile Exchange, natural gas for September delivery fell to $3.379 per million British thermal units at 14:51 GMT, marking a 1.96% daily decline. Prices held […] Read more

Oil extends gains on piling positive U.S. data

West Texas Intermediate extended gains to over 2.4% on Thursday as more unexpectedly upbeat U.S. data which surpassed analysts expectations boosted demand prospects in the worlds top consumer. Brent continued to circle around the $109 mark while WTI returned to above $107 levels. On the New York Mercantile Exchange, WTI crude for September delivery traded […] Read more

Natural gas continues to fall ahead of EIA report

Natural gas continued to fall on Thursday, a seventh consecutive day of declines, before the Energy Information Administration releases its weekly natural gas storage report at 14:30 GMT. The government statistics are expected to show a build above the five-year average and the same week a year ago. On the New York Mercantile Exchange, natural […] Read more

Grain futures mixed, wheat on a two-week high

Grain futures were mixed on Thursday with wheat gaining, while corn and soybeans continued to decline due to ample supply forecasts. On the Chicago Board of Trade, wheat futures for September delivery traded at $6.6588 a bushel at 9:47 GMT, up 0.13% on the day. Prices ranged between days high at $6.6738, the highest since […] Read more

Copper on a one-week high amid strong China manufacturing data

Copper rose to the highest level since July 26 as surprisingly positive China manufacturing data defied analysts expectations and boosted the metals demand prospects. On the Comex division of the New York Mercantile Exchange, copper futures for September delivery traded at $3.141 a pound at 8:54 GMT, up 0.71% on the day. Prices ranged between […] Read more

Gold with minor gains as Fed keeps QE intact

Gold gained slightly on Thursday as the FOMC said after its two-day meeting on Tuesday and Wednesday that persistently low inflation could hinder economic expansion and pledged not to taper its monetary easing program. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1 317.15 per troy […] Read more

U.S. crude oil inventories defy analysts’ expectations

The Energy Information Administration said in its oil reserves report that U.S. crude stockpiles rebutted analysts predictions for a fifth consecutive weekly drop and instead increased. Gasoline stockpiles gained, while distillate fuel reserves declined. Negative reserves data however was offset by previously released upbeat U.S. data, which boosted demand prospects. On the New York Mercantile […] Read more

Natural gas rises first time in six days

Natural gas traded on the upside for the first time in six days as market players were lured back to the market to seek cheap valuations. Gains remained limited as weather forecasters kept on pointing at mild temperatures across key consuming areas. On the New York Mercantile Exchange, natural gas for September delivery traded at […] Read more

Gold erases gains on upbeat U.S. data, QE outlook in focus

Gold erased earlier gains throughout the day and slipped back to negative territory following upbeat U.S. data that outperformed analysts expectations. The U.S. economy grew much faster in the second quarter than last years downward revised pace, which shot the dollar up and pressured dollar-denominated commodities. On the Comex division of the New York Mercantile […] Read more