crude oil futures news

crude oil futures news

October 30th, 2015

Crude oil futures rose near two-week highs on Friday, helped by a weaker U.S. dollar, although expectations for a U.S. rate hike before the year-end limited gains.

U.S. crude futures for December delivery were last at $46.25 a barrel, up 0.40% for the day.

On the ICE Futures Exchange in London, the December Brent contract were up 0.78% at $49.19 a barrel.

The dollar came under pressure after the Commerce Department reported on Thursday that U.S. gross domestic product grew at an annual rate of 1.5% in the three months to September, missing expectations for growth of 1.6%.

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sugar futures brokers

sugar futures brokers

October 26th, 2015

Morgan Stanley restated an upbeat call on corn, soyoil and sugar, based largely on expectations for importer demand, despite the revival in the dollar which will make the commodities more expensive for buyers in other currencies.

The bank acknowledged that, for corn, “near-term weakness” in US export sales may be “exacerbated” by the latest revival in the dollar, spurred by Chinese and eurozone monetary policy moves last week.

US export commitments for corn had, as of October 15, reached 11.88m tonnes for 2015-16, a drop of 35% year on year, according to US Department of Agriculture data.

However, market weakness would not last for ever, with the prospect of a decline in Brazilian shipments to send demand back the way of the US.

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natural gas options

natural gas options

October 20th, 2015

U.S. natural gas futures extended gains from the prior session on Tuesday, as forecasts for chilly temperatures across key consumption regions of the U.S. boosted demand expectations for the fuel.

Natural gas for delivery in November on the New York Mercantile Exchange jumped 4.4 cents, or 1.8%, to trade at $2.487 per million British thermal units during U.S. morning hours.

A day earlier, natural gas futures tacked on 1.2 cents, or 0.49%, as a cold blast hit the U.S. Northeast, boosting near-term demand expectations for the heating fuel.

Updated weather forecasting models showed that a cold front will impact the northern U.S. through October 28.

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crude oil futures news

crude oil futures news

October 9th, 2015

Crude oil prices swung back and forth in choppy trade on Friday as traders closed positions at the end of a week that saw prices rising by the most in over six years earlier in the session.

Market participants flipflopped between the negative fundamentals of persistent oversupply and support factors from Syria-related concerns and a weaker U.S. dollar.

“Prices are moving on profit-taking before the weekend. There is also a partial holiday in the U.S. on Monday,” Commerzbank analyst Carsten Fritsch said, referring to the U.S. Columbus Day holiday.

Earlier in the session, Brent was on track to notch its highest weekly percentage gain since 2009, but some traders said the sharp rise was overblown, prompting speculators to take profits.

Brent crude, the global benchmark, was down 18 cents at $52.87 a barrel at 11:48 a.m. EDT (1548 GMT), during a volatile session that saw the contract touch an intraday high of $54.05.

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commodity investing 101

commodity investing 101

October 5th, 2015

Commodity investing funds undertook a sharp wave of short-covering as pessimism over agricultural commodity prices waned, particularly in sugar, in which they turned more positive on prospects at the fastest pace in 15 months.

Managed money, a proxy for speculators, lifted its net long position in futures and options in the top 13 US-traded agricultural commodities, from corn to cotton, by 100,285 contracts in the week to last Tuesday, analysis of data from the Commodity Futures Trading Commission regulator shows.

The shift took the net long – the extent to which long bets, which profit when values rise, exceed short holdings, which benefit when prices fall – to 125,025 contracts.

And it was fuelled by a cut in short positions, of more than 90,000 lots, amid recovering markets for many agricultural commodities, with only cattle and cocoa among main contracts showing losses during the week.

The closure of short positions was evident in a cut to 1.38m lots, from 1.42m contracts, in speculators’ open interest – the total number of live contracts they hold.

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