crude oil futures news

crude oil futures news

December 31st, 2018

Crude futures plunged to fresh 17-month lows Monday amid fears of a sell-off amid the dramatic fall in equity markets, along with a partial US government shutdown. The decline comes despite OPEC ministers reiterating that they are committed to production cuts which kick off in January.
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At 1505 GMT, ICE February Brent crude futures were down 86 cents/b from Friday’s settle at $52.96/b, while the NYMEX February light sweet crude contract was down $1.16 cents/b at $44.43/b.

The steady decline in oil prices over the past few weeks has caused concern to several OPEC ministers, with some reiterating that the group’s production cuts may even be extended from June next year, if needed.

The UAE energy minister Suhail al-Mazrouei told reporters on Sunday that if the OPEC and non-OPEC producers’ plan to take 1.2 million b/d off the market does not work, there is always an option to call an extraordinary meeting.

“If we are required to extend for [another] six months, we will do it … I can assure you an extension will not be a problem,” Mazrouei said.

Petromatrix analyst Olivier Jakob said that despite “repeated comments from OPEC members that they are serious about supply reduction, and that they can consider doing additional cuts if the market balance does not improve,” the market is expected to be locked in a bearish cycle.

Meanwhile on the supply side, Libyan crude production remained down by 400,000 b/d as the country’s largest field Sharara remains shut-in, according to the state-owned National Oil Corporation. This was despite assurances from the country’s UN-backed government that the site would reopen soon.

China released its recent oil data earlier in the day which showed that its overall crude supply in November surged 12% from a year ago to 426.17 million barrels, and rose 6% from October, led by a sharp increase in net crude imports, while domestic crude output was largely rangebound.

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dow jones futures brokers

dow jones futures quotes

December 12th, 2018

Dow Jones futures closed higher on Wednesday as investors digested news related to the ongoing trade war between the United States and China.

The Dow Jones Industrial Average rose 157.03 points to 24,527.27, led by gains in Caterpillar. The S&P 500 climbed 0.6 percent to close at 2,651.07 as the consumer discretionary sector outperformed. The Nasdaq Composite jumped 1 percent to 7,098.31 as Facebook, Amazon, Netflix and Google-parent Alphabet rose.

The major averages came off their highs in afternoon trading. The Dow had risen as much as 458.05 points, while the S&P 500 gained 1.85 percent at its session high. The Nasdaq rose as much as 2.35 percent.

“There’s a lot of anxiety around there,” said Dan Deming, managing director at KKM Financial. “The market is just dealing with some headline issues it just can’t seem to shake off.”

“Until we get some resolution to some of those issues, I think this will continue,” Deming said.

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soybean futures brokers

soybean futures brokers

November 2nd, 2018

U.S. soybean futures scaled to two-week peaks on Friday on signs of easing trade tensions between Washington and Beijing, but slipped from the highs after a White House official said he was less optimistic that a trade deal could be reached.

Corn futures also climbed, lifted by expectations for a cut to the U.S. Agriculture Department’s U.S. crop forecast in a monthly report next week, while wheat edged up in tandem with firming corn.

Soybeans posted their steepest gain in four months on Thursday after U.S. President Donald Trump and China’s Xi Jinping spoke on the phone about trade and agreed to meet this month at the G-20 meeting in Argentina. The rally put the soy market on track for the strongest weekly advance in 16 months.

“Both presidents are putting out some optimistic vibes in terms of the potential for a trade deal,” said Terry Linn, analyst with Linn & Associates. “Both sides are talking and the meeting is set up in just under three weeks. Maybe something will happen.”

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cotton futures news

cotton futures news

October 18th, 2018
The USDA World Agricultural Supply and Demand Estimates for October contained a couple of surprises. The revisions of the 2018/19 world cotton numbers included a large — and long-awaited — revision to India’s historical balance sheets covering 2002-2013 crops.

For the 2018/19 balance sheet, this was reflected by a 2.9 million-bale month-over-month reduction to Indian carry-in stocks. This cut went straight to the bottom line, reducing Indian and foreign ending stocks. World production was cut 310,000 bales, mainly from a half-million bale reduction in Australia that outweighed smaller increases elsewhere. World consumption was reduced by 180,000 bales, mainly in Turkey.

The bottom line of all these adjustments was a fundamentally bullish 3.01 million bale reduction in world ending stocks, month-over-month.

The October revisions to 2018/19 U.S. cotton involved another surprising, albeit small, increase in U.S. supply. This adjustment was attributed to production increases in Texas and Georgia (pre-Hurricane Michael) that outweighed post-Hurricane Florence reductions in the Carolinas. U.S. 2018/19 exports were reduced by 200,000 bales to reflect lower world trade and consumption.

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sugar futures brokers

sugar futures brokers

August 24th, 2018

Sugar futures prices have fallen to their lowest levels in a decade and are likely to drop further as record world-wide production collides with healthier eating.

Raw sugar futures traded on the ICE Futures U.S. exchange SBV8, -1.90% settled at 10.1 cents a pound on Monday, the lowest finish for a front-month contract since June 10, 2008, according to Dow Jones Market Data. Year to date, prices have lost more than 32%—the biggest percentage decline so far among major commodities.

“The world has gone from supply deficit to supply surplus in the past year and a half,” says Sal Gilbertie, president and chief investment officer at Teucrium Trading. “This year, both India, the world’s second-largest producer of sugar, and Thailand, the world’s fourth-largest sugar producer, are having record production years, which has ballooned the surplus.”

World sugar production is forecast to reach a record level of 187.6 million metric tons in the 2017-18 marketing year, according to the United Nations’ Food and Agriculture Organization, or FAO. That would mark an increase of just over 11% from the previous year.

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s&p futures news

s&p futures news

August 7th, 2018

Wall Street was higher on Tuesday, as the S&P 500 edged closer to the all-time high it reached in January.

The S&P 500 rose 8 points, or 0.29%, to 2,858.70 as of 9:35 AM ET (13:35 GMT). The all time high is 2,872.87.

The Dow increased 103 points, or 0.41%, to 25,605.58 and the tech-heavy Nasdaq Composite gained 34 points, or 0.44%, to 7,894.08.

Stock prices were driven higher by a better-than-expected earnings season, with almost 80% of the S&P 500 since Monday posting profits to the upside, according to FactSet. Meanwhile, the CBOE Volatility Index (VIX), or Wall Street’s fear gauge, fell to its lowest level since early February.

Earnings season continues, with the biggest focus on Walt Disney (NYSE:DIS) and Snap (NYSE:SNAP), which both report after the close. Disney was up 0.78%, while Snap slumped 1.69%.

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wheat futures brokers

wheat futures brokers

August 2nd, 2018

Wheat prices leapt to multiyear highs on Thursday on fears of curtailed exports from the Black Sea after heat and drought damaged crops across Europe.

Milling wheat in Paris settled up 2.7 per cent at €212.75 per tonne, the highest since 2014. In Chicago, soft winter wheat closed 0.4 per cent higher at $5.60½ a bushel after spiking near $6 for the first time since 2015.

Headlines from Ukraine, a leading grain producer, ignited a market already fretful over short supplies this year.

Ukraine planned to sign a memorandum with traders to set limits for grain exports, Bloomberg reported, citing a Agriculture Ministry statement posted on Facebook. The ministry’s press service later said that it was not holding talks about “strict and direct limits for milling wheat exports,” Reuters reported.

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crude oil futures 101

crude oil futures 101

August 2nd, 2018

Oil prices dropped Thursday, extending losses that came in the wake of fresh U.S. government data showing mounting petroleum stockpiles.

Brent crude LCOV8, -0.35%  , the global benchmark, was down 0.6% at $71.94 a barrel on London’s Intercontinental Exchange. On the New York Mercantile Exchange, West Texas Intermediate futures CLU8, -0.40%  were trading down 0.9% at $67.05 a barrel.

The U.S. Energy Information Administration said late Wednesday that U.S. crude oil inventories increased by 3.8 million barrels last week, to stand at 409 million barrels. Traders and analysts surveyed by The Wall Street Journal had predicted an average weekly decline of 2.2 million barrels.

Prices fell to their lowest level in almost six weeks after the data came out Wednesday.

“The build was driven by lower crude oil exports, which fell by 1.37 million barrels a day week-on-week,” according to analysts at ING Bank.

Tamas Varga, an analyst at brokerage PVM Oil Associates, noted that total U.S. commercial oil inventories, including refined products, increased by more than 10 million barrels last week.

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live cattle futures

live cattle futures

April 16th, 2018

While winter lingers in the upper Midwest, ranchers in the U.S. central plains are dealing with relentless drought, forcing some ranchers to send livestock to feedlots earlier. We’ll see this Friday how many more head are at feed yards when USDA releases the monthly Cattle on Feed report.

Cattle futures have been sliding as market watchers expect a landslide of meat in the coming months. Severe drought is parching the U.S. Plains, and ranchers have had no choice but to send their animals to yards where they’re fattened up for market with grains. That speeds up the growing process and means the animals will go to market earlier than usual.

“It’s a shockingly weak market,” said Dennis Smith, a senior account executive at Archer Financial Services Inc. in Chicago. Traders can expect “a bulge in production that’s going to happen in the second and third quarter,” he said.

Extreme and exceptional drought has spread across Texas, Oklahoma, Kansas and Colorado, according to the U.S. Drought Monitor in Lincoln, Nebraska. It’s been that way for around six months, and doesn’t show signs of improving.

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natural gas futures news

natural gas futures news

April 23rd, 2018

Natural gas futures started the week in negative territory on Monday, amid speculation the start of spring will bring warmer temperatures throughout the U.S. and cut into demand for the fuel.

Front-month U.S. natural gas futures slumped 1.9 cents, or around 0.7%, to $2.748 per million British thermal units (btu) by 9:00AM ET (1300GMT).

The commodity notched its second straight weekly gain, with futures rising about 0.2% last week, thanks to lingering winter-like weather conditions, which has delayed the official start of the storage injection season.

Despite recent gains, market experts warned that futures are likely to remain vulnerable in the near-term as below-normal temperatures in April mean less than they do in January and February.

Spring usually sees the weakest demand for natural gas in the U.S, as the absence of extreme temperatures curbs demand for heating and air conditioning.

Meanwhile, market participants looked ahead to this week’s storage data due on Thursday, which is expected to show another draw in a range between 3 and 17 billion cubic feet (bcf) for the week ended April 20.

That compares with a decline of 36 bcf in the preceding week, an increase of 74 bcf a year earlier and a five-year average rise of 60 bcf.

Total natural gas in storage currently stands at 1.299 trillion cubic feet (tcf), according to the U.S. Energy Information Administration.

That figure is 808 bcf, or around 38.3%, lower than levels at this time a year ago, and 449 bcf, or roughly 25.7%, below the five-year average for this time of year.

Record high domestic production levels have overshadowed the fact that stocks in storage are well below their seasonal averages for this time of year.

- Investing.com.