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April 17th, 2012
Commodity Investing – Commodities and stocks advanced after Spain sold more debt than targeted and the International Monetary Fund increased its forecasts for global economic growth. The pound climbed as U.K. inflation unexpectedly accelerated.
The Standard & Poor’s 500 Index gained 1 percent at 10:33 a.m. in New York and the Stoxx Europe (SXXP) 600 Index advanced 1.6 percent. The yield on the Spanish 10-year bond fell 17 basis points to 5.90 percent, with the similar-maturity Italian yield 10 basis points lower. Ten-year Treasury yields increased two basis points to 2.00 percent. The pound strengthened against 12 of its 16 most-traded peers after U.K. consumer prices rose 3.5 percent in March, the first increase in six months.
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April 17th, 2012
Crude oil rose to the highest in three days in New York on a bigger-than-projected gain in U.S. retail sales and expectation that the Seaway crude pipeline reversal will help reduce a supply glut.
Crude oil futures in New York also extended gains after advancing for a third time in four days yesterday on better-than-expected German investor confidence data and Spain bond auction. Seaway pipeline operators said they would reverse its flow earlier than planned. U.S. retail sales increased more than forecast in March as Americans snapped up everything from cars and furniture to clothes and electronics.
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April 11th, 2012
Crude oil rose from the lowest close in almost two months in New York after a European Central Bank official signaled the lender may act to stem the spread of the region’s debt crisis.
Crude oil futures gained as much as 0.7 percent as the euro strengthened against the dollar after ECB Executive Board member Benoit Coeure suggested that the bank may restart bond purchases for Spain. Crude declined yesterday after an industry report showed U.S. stockpiles rose for a third week. The Energy Department will release its inventory report later today.
“Oil is getting some support from a weaker greenback amid some ECB reassurances,” said Andrey Kryuchenkov, an analyst at VTB Capital in London. “We also have a general rebound across the board along with equities after losses yesterday, though it seems this may be short-lived.”
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March 20th, 2012
Crude Oil dropped on forecasts that U.S. crude stockpiles increased to a six-month high and on signals that economic growth and fuel demand will slow in China.
Crude oil futures fell as much as 2.2 percent before a report tomorrow that will show supplies rose for a fifth week, according to a Bloomberg News survey. China raised fuel prices by the most in two years and the nation’s vehicle sales may miss industry targets. Saudi Arabia’s cabinet seeks to restore “fair” crude prices, the state news agency said yesterday.
“We’re pricing in another build in crude supplies,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. “There are re-emerging worries about the Chinese economy, and we’re seeing the Saudis and others put additional supplies on the market.”
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crude oil futures rise
March 13th, 2012
Crude oil rose after U.S. retail sales increased by the most in five months and equities gained, signaling stronger growth and higher demand.
Crude oil futures advanced as much as 0.9 percent as retail sales rose 1.1 percent in February, the Commerce Department said. Prices reversed an earlier loss as the dollar reduced gains against the euro and the Standard & Poor’s 500 index reached the highest level since 2008.
“Retail sales definitely are having a bullish impact on the market,” said Phil Streible, a Chicago-based commodities broker at RJO Futures. “We had a little selloff earlier on a stronger dollar, but the dollar has come off its highs now. Equities also helped the market.”
Crude oil futures for April delivery rose 74 cents, or 0.7 percent, to $107.08 a barrel at 12:38 p.m. on the New York Mercantile Exchange. It fell as much as 0.6 percent earlier. The price is up 8.3 percent this year.
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March 6th, 2012
Soybean futures rose to a fresh five-month high on Wednesday, amid indications demand from top consumer China will remain strong in the near-term, while investors readjusted positions ahead of Friday’s closely-watched U.S. government report on global soybean supplies.
On the Chicago Mercantile Exchange, soybeans futures for May delivery traded at USD13.3862 a bushel during European morning trade, edging up 0.32%.
It earlier rose by as much as 0.4% to trade at USD13.3875 a bushel, the highest since September 23.
Soybean prices have gained in nine of the last ten trading sessions leading up to Wednesday.
Futures have rallied almost 11% since the beginning of February, as traders focused on distressed crops in major South American soy growers and on hopes demand from top consumer China will remain robust in the near-term.
China’s northeast province of Heilongjiang, the country’s top corn and soy grower, aims to expand its corn acreage by paring back on land for soy crops in an effort to raise total grains output by 8% in 2012.
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March 7th, 2012
Crude oil climbed from the lowest price in more than two weeks in New York on forecasts that gasoline supplies are falling and employment increasing in the U.S., the world’s biggest consumer of crude.
Crude oil futures gained as much as 0.9 percent before government data today that may show motor-fuel inventories slipped by 1.6 million barrels last week. Stockpiles decreased 2.25 million barrels, the most since November, the industry-funded American Petroleum Institute said yesterday. U.S. employers probably added 210,000 jobs in February after gaining 243,000 in January, according to a Bloomberg survey before a March 9 report.
“U.S. economic figures have been surprisingly good, and this of course helps commodities,” said Hannes Loacker, an analyst at Raiffeisen Bank International AG (RBI) in Vienna who predicts U.S. crude will average $104 a barrel this quarter. “So hopefully this will continue.”
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February 29th, 2012
Crude oil futures rose, heading for its best month in New York since October, amid signs of economic recovery and concern that tension with Iran threatens global crude supplies.
West Texas Intermediate futures climbed as much as 0.8 percent after sliding yesterday the most in five weeks. Industrial output in Japan and South Korea beat estimates and U.S. consumer confidence rose to the highest level in a year. Oil has advanced 8.6 percent in February, its first monthly gain in three, as sanctions tighten against Iran, OPEC’s second- biggest producer.
“Oil prices will run up further as U.S. economic data remains supportive, and Iran and Syria continue to give cause for supply-side worries,” said Christopher Bellew, a senior broker at Jefferies Bache Ltd. in London, who earlier this month correctly predicted Brent crude’s rise to $120 a barrel.
Crude oil futures for April delivery increased as much as 88 cents to $107.43 a barrel in electronic trading on the New York Mercantile Exchange and was at $106.98 at 12:25 p.m. London time. Yesterday, the contract slipped $2.01, or 1.9 percent, to $106.55, the lowest close since Feb. 22 and the biggest drop since Jan. 20.
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February 22nd, 2012
Crude oil rose to a nine-month high as officials from the International Atomic Energy Agency were denied access to an Iranian military base and said negotiations “couldn’t finalize a way forward.”
Crude oil futures climbed for a fifth day after the IAEA, the United Nations’ nuclear body, said Iran refused inspectors permission to visit the Parchin base during two days of talks that ended yesterday. Crude fell as much as 0.6 percent earlier as reports showed manufacturing activity slowed in Europe and China, signs that fuel demand may decline.
“We’re just watching the Iranian story play out,” said Tim Evans, an energy analyst at Citi Futures Perspective in New York. “What occurs in the market will depend on the developments there.”
Crude oil futures for April delivery increased 3 cents to $106.28 a barrel on the New York Mercantile Exchange, the highest settlement since May 4. Futures have gained 14 percent in the past year.
Brent oil for April settlement climbed $1.23, or 1 percent, to $122.89 a barrel on the London-based ICE Futures Europe exchange. The price reached $123.23, the highest intraday level since May 3. The European benchmark was at a $16.61-a-barrel premium to New York-traded West Texas Intermediate oil. The spread was $1.20 wider than yesterday.
An Iranian general, Mohammad Hejazi, said his nation would consider pre-emptive action when threatened, Fars news agency reported yesterday.
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February 21st, 2012
Crude oil futures increased to a nine-month high after Greece won a second bailout and Iran said it stopped selling crude to France and Britain.
Crude oil futures rose as much as 2.7 percent after the euro-area ministers approved 130 billion euros ($173 billion) in aid for Greece by tapping into European Central Bank profits and coaxing investors into providing debt relief, shielding the region from a default. Iran stopped selling oil to the countries yesterday, preempting a European Union ban, an official news website said.
“There’s a lot of relief about the Greek situation in the market and Iran is making a lot of noises,” said Kyle Cooper, director of research at IAF Advisors, a Houston-based energy consulting company. “The Greek agreement has increased optimism about the economy.”
Crude oil futures for March delivery gained $2.62, or 2.5 percent, to $105.86 a barrel at 2:04 p.m. on the New York Mercantile Exchange. The contract climbed to $106.07, the highest intraday level since May 5. Futures have risen 7.1 percent this year. The March contract expires at the close of floor trading today.
The more actively traded April contract increased $2.69, or 2.6 percent, to $106.29 a barrel on the Nymex. Floor trading was closed yesterday because of the U.S. Presidents Day holiday.
Brent oil for April settlement increased $1.63, or 1.4 percent, to $121.68 a barrel on the London-based ICE Futures Europe exchange.
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