Commodities News - Part 322

Natural gas little changed

July 4, 2013 3:11 pm

Natural gas remained fairly unchanged during Thursdays thin trade. Investors kept in focus EIAs weekly natural gas storage report that was released on Wednesday instead of Thursday due to the Independence Day holiday. Natural gas for August delivery traded at $3.657 per million British thermal units at 15:09 GMT, below opening price of $3.688. Prices […] Read more

Gold drops on Draghi comments

July 4, 2013 2:42 pm

Gold traded in a narrow range throughout the day and hit a session low as the dollar pushed against the euro following Mario Draghis announcement on the future direction of ECBs monetary policy. Gold futures for August delivery traded at $1 248.15 per troy ounce at 14:41 GMT, below its opening price of $1 252.65. […] Read more

Cocoa gains on crop delay concern, coffee drops

July 4, 2013 12:47 pm

Cocoa fell on Thursday amid speculation next harvest in the worlds biggest growing region will be delayed due to unfavorable weather. On NYSE LIFFE in London, cocoa futures for July delivery traded at $1 497 pounds per ton, up 1.49% on the day. Prices ranged between days high and low of $1 503 and $1 […] Read more

Copper falls on weak China data and QE outlook

July 4, 2013 9:00 am

Copper fell on Thursday as decreased demand outlook from the metals biggest consumer, China, weighed on prices. Investors also laid eyes on tomorrows key U.S. economic data that is expected to be on track withs Fed projections as a step towards Quantitative Easing tapering. Copper futures for September delivery traded at $3.149 a pound at […] Read more

Gold retains Wednesday’s gains

July 4, 2013 8:25 am

Gold remained fairly unchanged during Thursdays slow trading, supported by speculation demand may increase amid Europes debt crisis and political turmoil in Egypt. Gold for August delivery traded at $1 252.35 per troy ounce at 7:54 GMT, down 30 cents from opening price. The precious metal held range between days high and low at $1 […] Read more

WTI hovers above $101 on Egypt unrest and drop in inventories

July 4, 2013 7:02 am

West Texas Intermediate traded above $101 on Thursday, holding in tight range as there will be no floor trading in New York due to the Independence Day holiday. Oil prices surged recently as political tension in Egypt threatened to close the Suez Canal and EIAs latest oil reserves report showed an unexpectedly large drop in […] Read more

U.S. crude reserves drop more than expected

July 3, 2013 2:59 pm

According to the Energy Information Administrations weekly oil reserves report, U.S. Crude Oil Inventories dropped well above expectations. Gasoline and distillate fuel stockpiles also decreased, rebutting projections. On the New York Mercantile Exchange, WTI crude for August delivery traded at $101.96 a barrel at 14:58 GMT, up 2.37% on the day. Prices ranged between days […] Read more

Gold extends gains following controversial U.S. data

July 3, 2013 2:27 pm

Gold retained its previous daily gains and advanced further as several key U.S. economic indicators showed controversial readings. Increased physical demand kept supporting prices while concern of an earlier-than-expected Quantitative Easing deceleration still weighed. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1 257.85 per troy […] Read more

Soft futures mixed, cocoa advances

July 3, 2013 12:54 pm

Soft futures were mixed on Wednesday with coffee marking daily losses, while cotton and sugar remained fairly unchanged near their previous close and cocoa advanced amid speculation over crop delays. On the NYSE LIFFE cocoa futures for July delivery traded at $1 475 a ton, up 1.65% on the day. Prices ranged between days high […] Read more

Copper rises on supply concern

July 3, 2013 11:30 am

Copper rose on Wednesday amid concern over physical supply as output in recent months was interrupted. However, gains were limited by Feds monetary stimulus outlook prior to key U.S. economic data, scheduled for today. Another bit of negative China data also weighed on prices. On the Comex division of the New York Mercantile Exchange, copper […] Read more