crude oil futures news

crude oil futures news

May 28th, 2015

Crude oil futures gained in Asia on Thursday despite higher than expected U.S. stockpiles last week as measured by industry.

The American Petroleum Institute said crude supplies last week rose 1.268 million barrels, more than the 2 million barrels decline seen, while gasoline stocks dropped 3.591 million barrels and distillates eased 51,000 barrels

The Energy Information Administration will release its weekly inventory report on Thursday, delaying the release by a day due to the Memorial Day holiday.

Continue reading »

Natural gas higher after storage data

On May 14, 2015, in natural gas futures news, by Infinity Trading
natural gas futures brokers

natural gas futures brokers

May 14, 2015

Natural gas futures were higher on Thursday, after data showed that U.S. natural gas supplies rose less-than-expected last week.

On the New York Mercantile Exchange, natural gas for delivery in June was up 2.33% to $3.033 per million British thermal units. Prices were at around $2.899 prior to the release of the supply data.

In its weekly report, the Energy Information Administration said natural gas storage in the week ended May 8 rose by 111 billion cubic feet, compared to expectations for an increase of 116 bcf.

Total U.S. natural gas storage stood at 1,897 bcf the EIA said. Stocks were 752 bcf higher than last year at this time and 38 bcf below the five-year average of 1,935 bcf for this time of year.

Continue reading »

iwheat-1May 11th, 2015

Grain, oilseed and cotton markets have lots of big questions as they stand on the threshold of their respective 2015-16 marketing years.

How much corn will trouble-hit Ukraine export? How much wheat will Europe produce? Will Brazil rise back above the US again in the soybean export league?

And Tuesday will bring answers too all these questions, and more.

Continue reading »

crude oil futures news

crude oil futures news

May 10th, 2015

Oil held gains after rising for an eighth week as U.S. drillers further reduced the number of active rigs to the fewest since September 2010.

Crude oil futures were little changed in New York after capping a 0.4 percent weekly advance Friday, the longest run of increases since February 2013. The U.S. rig count declined by 11 to 668, extending a slide that started in December, according to Baker Hughes Inc. The Organization of Petroleum Exporting Countries, which is scheduled to meet June 5, is unlikely to cut its output quota, according to an official at National Iranian Oil Co.

Continue reading »

gold futures news

gold futures news

May 3rd, 2015

Gold futures recovered from a six-week low amid speculation that weaker economic growth will prompt officials to add to stimulus in China, which rivals India as the world’s top bullion buyer.

China’s central bank has already loosened monetary policy, and the manufacturing gauge published Monday that signaled contraction for April fueled anticipation that more measures will come. Revived growth prospects can help buoy physical demand for precious metals, according to Bart Melek, the head of commodity strategy at TD Securities.

Futures are rebounding after three weeks of declines. The Federal Reserve has damped speculation that it will delay boosting interest rates. Traders are awaiting the April U.S. payrolls report on Friday for more signals on the timing of increases for borrowing costs. Higher rates drive investors to favor assets that pay interest, such as bonds, curbing gold’s appeal as a store of value, since it generally offers returns only through price gains.

“Expectations of Chinese stimulus are helping the market,” Toronto-based Melek said in a telephone interview. “The next few days will be all about the U.S. data and the big employment number.”

Continue reading »

cotton futures news

cotton futures news

May 1st, 2015

West Africa’s cotton sector faces a “crisis” which could prompt “major shake-ups” within the region’s industry, Ecobank said, citing the knock-on effects of weak prices of the fibre.

Cash-strapped governments in the major West African cotton growing area, which includes Benin, Burkina Faso and Senegal, face a “daunting task” in setting minimum prices of the fibre for 2015-16, the bank said.

Passing on the 20% drop in prices forecast for cotton prices in 2015-16 to less than 70 cents a pound, as measured by the Cotlook A index, would prompt producers to switch to other crops, such as sesame or soybeans – an outcome “that governments want to prevent at all costs”.

“Cotton acts as a guarantee for rural food security… Cotton is simply too important for West African governments to allow a collapse in production.”

Continue reading »