Commodities News

WTI erases U.S. labor data drop and heads towards weekly gain (Updated)

WTI crude is headed for a first weekly gain since four weeks after Crude Oil Inventories surprisingly contracted this week and employment rose more than projected in the worlds biggest economy. According to the Bureau of Labor Statistics, the Change in Non-Farm Payrolls indicator rose to 175 000, 12 000 more than the 163 000 […] Read more

Brazil coffee harvest accelerates

Coffee harvest in the worlds biggest producer and exporter, Brazil, is going to pick up the pace after it stalled due to unfavorable wet weather. According to a Somar Meteoroligia report, growing areas will get dry weather for a long period after June 5, following substantial rain in the beginning of the month. Brazil is […] Read more

Soybeans en route to a best week in four years

Soybeans continued to gain for a sixth straight week, the longest such streak in four years, amid increased demand, which drained inventories of last years crop. On the Chicago Mercantile Exchange, soybeans futures for July delivery gained 0.55% on the day and traded at $15.3638 a bushel at 10:17 GMT. According to the U.S. Department […] Read more

Copper rises after a three-day losing streak

After plunging for three days in a row, copper prices rose on Friday amid broadly weaker dollar and supply concerns. The Grasberg mine in Indonesia will stay closed for three months due to an independent probe, following fatal accidents that recently occurred. A tunnel collapse on May 14 killed 28 workers and another one died […] Read more

Gold’s attractiveness rises

Gold traders are most bullish since the start of the bear market two months ago, supported by weaker dollar and retreat from a five-year high in equities. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1 409.95 a troy ounce at 7:52 GMT, marking a 0,41% […] Read more

Natural gas reserves rise more than expected

Natural Gas Storage gained 111 billion cubic feet to 2.252 trillion in the week ending May 31, compared to an 88 billion increase in the preceding week. According to a survey done by Platts, the energy information arm of McGraw-Hill Cos, the EIA’s report should have shown a rise by 93 to 97 billion cubic […] Read more

Gold once again above $1 400

Gold experienced many ups and downs last few days and mostly circled around the $1 400 psychological barrier. The greenback lost positions against the euro as mixed, but overall positive news came out from the single-currency bloc. German factory orders showed worse than anticipated readings on both annual and monthly basis. However, Bank of England […] Read more

Natural gas falls ahead of inventory report

Natural gas tumbled today ahead of the Energy Information Administrations gas reserves report, published weekly on Thursday at 14:30 GMT. Gas futures rallied on Wednesday on sentiment that temperatures will rise, which boosts the fuels demand. On the New York Mercantile Exchange, natural gas for July delivery slipped 0.76% to trade at $3.971 per million […] Read more

Soft futures mixed, sugar near three-year low

Soft futures were little changed in the early U.S. morning on Thursday with sugar going near its lowest level since July 2010 amid sufficient global supply. On the ICE Futures U.S. Exchange, sugar July futures traded at $0,1635 a pound at 11:44 GMT, down 0.12% for the session. The U.S. Department of Agriculture stated in […] Read more