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Natural Gas Drops 3%

May 16, 2013 3:03 pm
Natural gas plunged 3% after the U.S. Energy Information Administration recently published data showing U.S. gas reserves increased more than expected. Natural gas storage rose by 99 million cubic feet last week, above the forecast for an increase of 95 billion cubic feet. The five-year average change for the week stood at 69 billion cubic […] Read more

WTI Crude Recovers After a Steady Fall

May 16, 2013 2:50 pm
West Texas Intermediate crude rose following the released data today according to which more Americans than projected have filed applications for unemployment benefits and U.S. consumer prices decreased. The Consumer Price Index (CPI) dropped 0,4% today, going worse than the 0,2% decrease expectation. Futures climbed after jobless claims exceeded all forecasts in a Bloomberg survey […] Read more

Sugar on a Record Low Since 2010

May 16, 2013 12:47 pm
Sugar fell to its weakest level since August 9, 2010. The reason lies in the forecast for a record harvest of 589.6 million metric tons of sugar cane in Brazils center-south region, where around 90% of the countrys production is situated. Millers crushed 31.5 million tons of cane in the second half of April compared […] Read more

Soybeans Advance Following Increased Demand in China

May 16, 2013 12:06 pm
Based on increased demand for U.S. supplies by China- the biggest importer of the oilseed, soybeans rose in Chicago. China is showing continuing interest for soybeans, which accounts for a 0,2% price increase for the day. According to data compiled by Bloomberg, China imported 3.98 million tons of soybeans in April. According to the grains […] Read more

Soros Joins Gold-Stake Cuts

May 16, 2013 9:29 am
George Soros, billionaire investor, joined Northern Trust Corp. and BlackRock Inc. in lowering investments in gold backed ETPs. That happened before the market went bearish last month, followed by the deepest plunge in history April 15 and thus erasing $42 billion from the value of ETP assets this year, according to data compiled by Bloomberg. […] Read more

WTI Crude Declines Amid Economic Slowdown

May 16, 2013 8:13 am
West Texas Intermediate continues its bearish trend amid signs of economic weakness in most of its major consumers. Data released yesterday showed below expectations economic growth in Germany, slip into recession by France, Italy performed worse than forecast and the U.S. showed slowdown in the industrial sector. This and the cut estimate of Chinas GDP […] Read more

China Shows Increased Gold Demand

May 16, 2013 7:17 am
Chinas gold demand increased in the first quarter by 20%, reaching 294,3 metric tons according to a report by the World Gold Council. Global demand fell 13% to 963 tons compared to Q1 2012 and gold slipped into a bear market after its biggest drop on April 15 as inflation failed to accelerate and investors […] Read more

WTI Crude Remains Low After Surprising Inventory Report

May 15, 2013 3:24 pm
According to the U.S. oil reserves report released today, crude inventories decreased by 624 000 barrels last week to 394,9 following its record amount since 1931. Economists expected a 450 000 barrels gain. Phil Flynn,senior market analyst at the Price Futures Group in Chicago said: “We are still swimming in oil. We still have plenty […] Read more

Brent Oil Slips Below $102

May 15, 2013 1:20 pm
Brent oil tumbled below $102 a barrel on May 15 after latest data revealed worsening in all of Europes major economies, including France falling in recession. Germany dodged contraction of its economy as consumption increased, but its GDP growth was barely enough to compensate for Europes economy slowdown as a whole. This marked a record […] Read more

Copper at a 1-week low

May 15, 2013 12:12 pm
Copper reached a 1-week low after data showed the economies of its three biggest consumers – China, USA and Germany, are slowing down. JPMorgan Chase & Co. cut its growth estimate this year for China from 8% to 7,6%. Germany also showed negative signs with a worse than expected performance. The Federal Statistics Office said […] Read more