Commodities News

WTI falls for a second day, China and QE outlook in focus

West Texas Intermediate fell for a second day, extending last weeks decline as market players await this weeks two day Fed policy meeting and the final reading of Chinas HSBC/Markit PMI. Crude was also pressured as Saudi Prince Alwaleed bin Talal said in an open letter that demand for oil by the group has declined […] Read more

Oil extends losses as China forces capacity cuts

Oil continued to fall on Friday, drawing closer to its first weekly decline in more than a month as the Chinese government forced 1 400 companies in over 19 industries to shut down excess capacity until the end of the year. On the New York Mercantile Exchange, WTI crude for September delivery traded at $103.96 […] Read more

Natural gas extends losses

Natural gas continued its steep fall this week and extended losses on Friday as weather forecasting models continued to point at mild temperatures over key consuming areas of the U.S., reducing demand for the fuel. On the New York Mercantile Exchange, natural gas for September delivery traded at $3.611 per million British thermal units, down […] Read more

Copper drops as China cuts capacities in some industries

Copper fell on Friday as the Chinese Ministry of Industry and Information Technology announced yesterday that 1 400 companies in 19 industries will have to cut excess production capacity this year. This comes as a part of Premier Li Keqiangs efforts to restructure the countrys economy in order to achieve a slower but more sustainable […] Read more

Grain futures mixed, soybeans extend decline on favorable weather

Grain futures were mixed on Friday with wheat and corn advancing, while soybeans fell to a 17-month low as favorable weather conditions boosted crop prospects and demand for U.S. supplies declined. On the Chicago Board of trade, soybeans for August delivery traded at $13.4663 a bushel at 9:52 GMT, down 0.57% on the day. Prices […] Read more

Gold en route to best month since January 2012

Gold advanced on Friday and is headed for the longest weekly rally since March as overall controversial U.S. economic data eased concern over an imminent deceleration of Feds monetary stimulus, which supported dollar-denominated dollars. On the Comex division of the New York Metal Exchange, gold futures for August delivery traded at $1 330.95 per ounce […] Read more

WTI headed for first weekly drop in five

West Texas Intermediate fell on Friday and is poised for a first weekly drop in five as U.S. output reached a 22-year high while Chinas latest economic data showed a further slowdown in its manufacturing sector. Brent also fell and is headed for a weekly decline. On the New York Mercantile Exchange, WTI crude for […] Read more

Natural gas reserves gain less than expected

According to the Energy Information Administrations weekly report, natural gas stockpiles in the U.S. gained less than expected in the week ending July 19. However, the build was well above last years reading during the comparable week. On the New York Mercantile Exchange, natural gas for September delivery traded at $3.653 per million British thermal […] Read more

Gold advances following mixed U.S. data

Gold extended positions in the early U.S. session as the dollar plunged following mixed U.S. economic data which showed an increase in durable goods orders and disappointing labor data. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1 325.75 an ounce at 14:08 GMT, up 0.47% […] Read more

Soft futures mixed, Brazil avoids frost

Soft futures were mixed on Thursday with sugar and cocoa advancing, while robusta fell and arabica extended its biggest tumble in five weeks as Brazil avoided frost damage. On the ICE Futures U.S., arabica coffee for September delivery traded at $1.2175 a pound at 13:32 GMT, down 0.08% on the day. Prices ranged between days […] Read more