crude oil futures news

crude oil futures news

April 19th, 2015

U.S. oil futures climbed near their highest level of the year on speculation that supply growth is beginning to slow.

Genscape Inc. was said to report a drop in inventories at Cushing, Oklahoma, the delivery point for West Texas Intermediate contracts, in the second half of last week, according to Phil Flynn, senior market analyst at the Price Futures Group in Chicago.

Concern that a record surplus in stockpiles would strain the nation’s storage capacity had been holding back oil’s recovery from a six-year low. Prices capped their biggest weekly advance in more than four years in New York on growing expectations that a decline in drilling will curb production.

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copper futures prices

copper futures prices

April 13th, 2015

Copper futures fell to a three-week low on mounting concern that metals demand will decline in China, the world’s top consumer.

Chinese government data due Wednesday will probably show the nation’s gross domestic product expanded 7 percent in the first quarter from the same period last year, according to a Bloomberg survey. That would be the slowest pace since the global recession of 2009.

“The Chinese GDP figure will be announced tomorrow, and some people think it will not be that favorable,” Richard Fu, the director of Asian commodity trading at Societe Generale Newedge U.K. Ltd. in London, said in a telephone interview. “China is a big producer and consumer of most of the base metals, so you figure if it’s not as good as expected, there will be a more bearish mood back in the market.”

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s&p futures news

s&p futures news

April 8th, 2015

U.S. stock-index futures were little changed before the Federal Reserve releases the minutes of its March meeting and as Alcoa Inc. unofficially kicks off earnings season.

Alcoa gained 1.6 percent before reporting its first-quarter results, due after the close of trading. Energy companies were little changed as a drop in oil prices offset news that Royal Dutch Shell Plc agreed to buy BG Group Plc for about $70 billion in the oil and gas industry’s biggest deal in at least a decade.

E-mini contracts on the Standard & Poor’s 500 Index expiring in June added 0.1 percent to 2,069.5 at 8:45 a.m. in New York. Dow Jones Industrial Average futures advanced 13 points, or 0.1 percent, to 17,798.

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crude oil futures news

crude oil futures news

March 10th, 2015

Bets that oil prices will plunge below $35 a barrel by June have lost almost 80 percent of their value after the U.S. benchmark recovered from a six-year low.

June $30 and $35 puts, or wagers that West Texas Intermediate oil will drop below those levels, have tumbled since January. Prices traded within an $8 range last month, the least since September.

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