crude oil futures news

crude oil futures news

April 28th, 2016

Crude oil futures slid after setting a 2016 high on Thursday as traders locked in profits, though analysts said supply disruptions, strong investor appetite and a weakening dollar could push prices higher soon.

Brent crude futures were trading at $47.05 per barrel at 1129 GMT, down 13 cents from their last settlement and off an earlier high of $47.47. U.S. West Texas Intermediate (WTI) futures were down 19 cents at $45.14 a barrel.

Both Brent and WTI have rallied more than 70 percent since their respective 2016 lows in January and February.

Record crude storage figures may have spurred some investors to take profits on Thursday by closing positions betting on a rise in prices, traders said.

Government data on Wednesday showed that U.S. crude stocks climbed 2 million barrels last week to an all-time peak of 540.6 million barrels. [EIA/S]

Despite slipping from the highs, analysts said oil market sentiment had clearly turned bullish, and further price rises were likely.

Continue reading »

cocoa options

cocoa options

April 22nd, 2016

Cocoa futures hit fresh 2016 highs, after Asian grinders reported higher-than-expected volumes.

Asian cocoa grinding was up 2.9% in the first three months to 2016, compared to the same time last year, according to data from the Cocoa Association of Asia (CAA).

Grinding, which is treated as a proxy for consumer demand, came in at at 148,911 tonnes.

This was better than market expectations, which pointed to an increase of around 1%.

Cocoa Futures: No drop in Indonesia

Malaysia, Asia’s second-largest cocoa processor, had already reported an increase in grind of 4%.

But markets were uncertain whether that increase represented a real uptick in demand, or simply a shifting of volumes away from Indonesia, the top-ranked grinder.

Friday’s data release makes it clear that Indonesia also saw rising volumes.

Continue reading »

silver news

silver news

April 20, 2016

Silver, up 24 percent in the best start to a year since 2011, is still gaining steam, according to one technical indicator. The metal surged for a second straight session above the upper limit of its Bollinger band, which has itself been climbing since April 11, signaling a “spike is coming,” according to Fain Shaffer, the president of Infinity Trading Corp. in Indianapolis. Silver has rallied on signs of industrial demand for the metal and bets that policy makers will be slow to raise U.S. interest rates.

- Luzi-Ann Javier Bloomberg.

crude oil market

crude oil market

April 8th, 2016

Crude oil prices rebounded in Asia on Friday from a sharp overnight selloff on growing supply as investors look ahead to U.S. rig count data from Baker Hughes.

On the New York Mercantile Exchange, WTI crude for May delivery jumped 2.07% to $38.03 a barrel. Brent crude climbed 1.57% to $40.05 a barrel.

Overnight, crude futures fell sharply on Thursday, erasing some of their massive gains from the previous session, as energy traders reacted to reports of a considerable inventory build at the Cushing Oil Hub and an unexpected increase among exports in Iraq.

Continue reading »

wheat futures brokers

wheat futures brokers

April 5th, 2016

Moroccan wheat imports are set to soar, as domestic production collapses to its lowest level in 8 years, US government officials said.

The US Department of Agriculture’s bureau in Rabat estimated the 2016-17 Moroccan wheat harvest at just 3.7m tonnes, down 54% from last year’s record harvest, thanks to “dry and hot conditions during crop establishment”.

This represents a sharp reversal of fortunes from the previous season’s record breaking harvest.

“With this year’s drought, wheat imports are expected to start earlier in the year,” the bureau said, as it forecast 2016-17 imports as high as 4m tonnes, which would be the third highest on record.

Continue reading »