Commodities News

U.S. oil reserves remain unchanged, oil at session low

Oil fell to a session low after the Energy Information Administration said in its weekly report that Crude Oil Inventories remained unchanged during last week, compared to the preceding one. On the New York Mercantile, WTI traded at $94.42 per barrel at 15:11 GMT, down 0.94% on the day. Light, sweet crude rebounded after hitting […] Read more

Soft futures mixed

Soft futures were mixed on Wednesday with sugar, arabica and cotton marking declines, while cocoa traded higher. The sweetener fell after rising by 4.1% for the past three days on speculation rain would slow cane processing in the worlds biggest producer, Brazil. Meanwhile, cocoa gained the most in three weeks. On the ICE Futures U.S. […] Read more

Copper extends losses on U.S. and China economic outlook

Copper made a steep fall on Wednesday, going back towards the three-year low it hit on Tuesday, pressured by speculation Fed will taper its bond purchasing program in the near future. On the Comex division of the New York Mercantile Exchange, copper futures for September delivery traded at $3.040 a pound at 10:31 GMT, down […] Read more

Grain futures mixed, soybeans fall on increased acreage concern in the U.S.

Grain futures were mixed on Wednesday with wheat marking a daily gain, corn remaining fairly stable, but on the green side and soybeans slipping on speculation U.S. farmers will plant more acres than the previous forecast in March. On the Chicago Mercantile Exchange, soybeans futures for August delivery traded at $14.2288 per bushel at 8:33 […] Read more

Gold crumbles on stimulus outlook

Gold made a steep plunge during the Asian session and extended losses in the early European session after upbeat U.S. economic data on Tuesday supported Feds intentions to taper its bond purchasing program, thus driving the dollar up. Gold fell to a 33-month low and silver touched its lowest level since August 2010. On the […] Read more

Oil drops as stockpiles remain near 30-year high

Oil prices plunged on Wednesday following the American Petroleum Institutes weekly report that showed crude reserves dropped much less than forecast during last week. Meanwhile, upbeat U.S. economic data, which was published on Tuesday, suggested the Federal Reserve is on the right track with its intentions to scale back the monetary easing program earlier than […] Read more

Gold erases earlier gains following positive U.S. data

Gold tumbled back to the red side of the scale, erasing earlier daily gains, as positive U.S. data strengthened the dollar and supported outlook for earlier-than-expected deceleration of Feds Quantitative Easing program. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1 274.55 an ounce at 14:49 […] Read more