Articles by: Teodor Dimov

U.S. crude oil reserves increase

U.S. Crude Oil Inventories increased by 3 million barrels last week and reached 397,6 million barrels, showed the U.S. Energy Information Administrations report on Thursday. Forecast was for a decline of 600 000 barrels to 393,8 million. Crude oil inventories stood at 394,6 million barrels the preceding week, when stockpiles declined by 350 000 barrels. […] Read more

U.S. natural gas inventories gain

According to the U.S. Energy Information Administration the Natural Gas Storage has increased by 88 million cubic feet last week and reached 2,141 trillion cubic feet, compared to 2 053 trillion the preceding week. This is 3 million more than the 2 138 billion cubic feet forecast. Inventories rose by 72 billion cubic feet during […] Read more

Gold gains further amid disappointing U.S. data

Gold futures gained 1% on Thursday, following disappointing U.S. economic data. Q1 GDP growth was revised downwards to 2.4%, compared to 2.5% according forecasts, thus dampening speculation about an earlier-than-anticipated slowdown of Feds Quantitative Easing program. Initial jobless claims rose by 10 000 to 354 000, way above the forecast of a 4 000 decline […] Read more

Copper edges higher supported by weaker dollar

Copper gained on Thursday as a broadly weaker greenback supported dollar-priced commodities. On the New York Mercantile Exchange copper for July delivery was up 0.3% on the day and traded at $3.306 a pound. The greenback lost positions against the yen, which lead to a decrease in its value against all other major peers. The […] Read more

Silver surges to a one-week high

Silver followed golds trend and and hit a one-week high today supported by the weaker dollar. The greenback lost positions versus the Japanese yen and euro yesterday, thus shooting gold and silver prices up. On the New York Mercantile Exchange silver futures for July delivery were up 0,95% on the day and traded at $22.66 […] Read more

Brent oil with a 1-month record slide (updated)

Brent oil dropped on Wednesday by $1.80, its biggest fall since May 1. Oil prices fell to nearly $101 per barrel today amid disappointing U.S. GDP growth data. Gross Domestic Product for the first quarter was revised downwards to 2.4% compared to the 2.5% growth forecast. Initial jobless claims were more than forecast and equaled […] Read more

WTI crude near a four-week low

WTI crude traded near a four-week low after an industry report by the American Petroleum Institute yesterday showed gasoline inventories rose 1,9 million barrels, compared to forecasts of a 100 000 barrels increase. Distillate products rose by 3,1 million barrels, way above the expectations for a lack of volume change. After the settlement on Wednesday, […] Read more

Gold above $1400

Gold futures for August delivery gained 1.3%, reaching highest level since May 22 and traded at $1 410,40 a troy ounce as stocks and the greenback retreated. Spot gold traded at $1 411, 27 an ounce, up 1,3%. The dollar lost positions versus the Japanese yen and euro yesterday, thus shooting gold prices up. Nevertheless, […] Read more