crude oil futures news

crude oil futures news

August 27th, 2015

Crude oil approached its biggest weekly advance in more than four years, sustaining a rebound above $40 a barrel amid signs of a strengthening economy in the U.S., the world’s biggest crude-consuming country.

Futures climbed a second day, extending a 10 percent rally on Thursday that was the biggest in more than six years. U.S. consumer purchases climbed in July as incomes grew, showing the biggest part of the nation’s economy was off to a good start in the second half of the year. This comes on the heels of data showing spending and the overall economy did better than previously estimated in the second quarter.

Prices fell Monday to the lowest close since February 2009 after a slump in Chinese stocks sent ripples through global financial markets. Crude is still down more than 20 percent this year on concern a supply glut will persist. The Chicago Board Options Exchange Crude Oil Volatility Index closed at 49.03 on Thursday, near the highest since April.

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dow jones futures

dow jones futures

August 24th, 2015

Wall Street looked set for another rout on Monday as alarm bells rang across world markets following a more-than 8 percent drop in Chinese shares and a steep fall in prices of oil and other commodities.

The S&P 500 and Nasdaq composite indexes were poised to slip into correction territory, or 10 percent off their 52-week highs. The Dow Jones industrial average and the Nasdaq 100 slid into a correction zone on Friday.

The Dow was set to open below 16,000 for the first time since February 2014.

The lack of new measures from Beijing to support Chinese stocks following an 11 percent drop last week sparked a free-fall in global equities and a selloff in oil and commodities.

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crude oil futures 101

crude oil futures 101

August 18th, 2015

Crude oil futures eased in Asia on Tuesday with attention focused on demand prospects from China in the wake of a weaker yuan and looking ahead to U.S. industry estimates of stockpiles.

On the New York Mercantile Exchange, WTI crude for October delivery traded down 0.13% to $42.36 a barrel.

On Tuesday, the American Petroleum Institute will release its estimates of U.S. crude and refined products stocks at the end of last week. The estimates are followed by more closely-watched figures from the U.S. Department of Energy released on Wednesday.

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natural gas futures news

natural gas futures news

August 13th, 2015

Natural gas futures extended losses on Thursday, after data showed that U.S. natural gas supplies rose more than expected last week.

Natural gas for delivery in September on the New York Mercantile Exchange dropped 8.5 cents, or 2.88%, to trade at $2.847 per million British thermal units during U.S. morning hours. Prices were at around $2.912 prior to the release of the supply data.

The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. in the week ended August 7 rose by 65 billion cubic feet, above expectations for an increase of 55 billion and following a build of 32 billion cubic feet in the preceding week.

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crude oil futures news

crude oil futures news

August 10th, 2015

Crude oil futures rose from the lowest level in almost five months in New York as Chinese crude imports climbed to a record in July.

China’s crude imports rose to a record on a monthly basis, driven by buying from small private refineries, according to preliminary data from the Beijing-based General Administration of Customs on Saturday. Prices fell to new lows earlier as the number of U.S. rigs seeking oil rose by six to 670, the third weekly gain, figures from Baker Hughes Inc. showed Friday.

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commodity investing 101

commodity investing 101

August 5th, 2015

Commodity hedge funds, having been bloodied by buying grains as the market tumbled, followed up with widespread selling in ags, turning more bearish on soft commodities and livestock as well as the likes of corn and wheat.

Managed money, a proxy for speculators, slashed its net long position in futures and options in the top 13 US-traded agricultural commodities, from cotton to cattle, by nearly 135,000 contracts in the week to last Tuesday, according to data from the Commodity Futures Trading Commission regulator.

The cut in the net long – the extent to which long positions, which profit when values rise, exceed short bets, which benefit when prices fall – was the second largest over the past two years.

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live cattle futures

live cattle futures

August 4th, 2015

The slump in live cattle futures has raised a cloud over the US beef cattle rebuild, a leading ag academic said, even as the head of the top US meat group forecast the strongest herd growth in 35 years.

Chris Hurt, professor of agricultural economics at Purdue University, said that the market for live cattle futures had been “surprisingly negative” in falling more than 10% from an April high, to stand on Monday at 147.90 cents a pound in Chicago for the spot August contract.

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