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Oil drops on weak China data and increased U.S. production

July 25, 2013 7:29 am
WTI extended yesterdays losses as U.S. crude output reached its highest pace since 1990, while the end of the driving season draws closer. Meanwhile, negative China manufacturing data from Wednesday continued to spur concern over demand in the worlds second biggest consumer. On the New York Mercantile Exchange, WTI crude for September delivery traded at […] Read more

U.S. oil inventories drop for a fourth week

July 24, 2013 3:10 pm
According to the Energy Information Administrations weekly report, U.S. oil inventories fell for a fourth straight week to the lowest level since January, indicating consistent demand in the worlds top consumer. Gasoline and distillate fuel stockpiles also decreased, confounding analysts expectations. On the New York Mercantile Exchange, WTI crude for September delivery traded at $106.40 […] Read more

Gold retreats following positive U.S. data

July 24, 2013 2:14 pm
Gold erased prior daily gains during early American trading on Wednesday as upbeat U.S. data strengthened the dollar, pressuring dollar-denominated commodities. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1 331.85 at 14:09 GMT, down 0.21% on the day. Prices ranged between a 1-month high of […] Read more

Soft futures edge lower

July 24, 2013 12:49 pm
Soft futures were mixed on Wednesday with coffee, sugar and cocoa declining, while cotton advanced. On the ICE Futures U.S. Exchange, arabica coffee for September delivery traded at $1.2285 a pound at 12:44 GMT, down 2.34% on the day. Prices ranged between days high and low of $1.2643 and $1.2240 a pound respectively. The C […] Read more

Copper on a 7-week high as European manufacturing accelerates

July 24, 2013 11:56 am
Copper continued to advance after erasing prior daily losses in early European trading and reached its strongest level since June 10 as positive economic data showed European manufacturing expanded more than expected, easing global demand concern following Chinas flash HSBC/Markit PMI fell to the lowest in 11 months. On the Comex division of the New […] Read more

Grain futures mixed, corn remains near 33-month low

July 24, 2013 9:38 am
Grain futures were mixed on Wednesday with wheat gaining and soybeans declining, while corn remained fairly steady near a recently hit 33-month low as weather conditions remained favorable and boosted prospects for a record-high crop. On the Chicago Board of Trade, corn futures for September delivery traded at $5.2263 a bushel at 9:35 GMT, remaining […] Read more

Copper rebounds after plunging on negative China PMI data

July 24, 2013 8:45 am
Copper fell during Asian and early European trading on Wednesday, followed by a rebound close to six-week highs as prices continued to draw support from Chinese governments intentions to boost economic growth and QE outlook. On the Comex division of the New York Mercantile Exchange, copper for September delivery traded at $3.210 a pound at […] Read more

Gold eases from 1-month high as higher prices spur sales

July 24, 2013 8:01 am
Gold touched a new 1-month high on Wednesday after which a decline followed as some market players decided to take advantage of the recent rally and sell. Silver and platinum gained, while palladium declined. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1 342.55 an ounce […] Read more

Natural gas rallies 2%

July 23, 2013 3:11 pm
Natural gas futures surged 2% during early U.S. trading following Mondays sell-off as investors returned to the market to seek cheap valuations. On the New York Mercantile Exchange, natural gas for August delivery traded at $3.741 per million British thermal units, up 1.73% on the day. Prices ranged between days high at $3.762 and low […] Read more