Wednesday, 20 May 2015

Commodity Market Update (Crude Oil)

On Comex, precious metals rebounded mildly after yesterday’s sharp fall. Gold future prices are trading at $1208 a troy ounce, up by two dollars while Silver future prices are quoting at $17.11 per troy ounce, higher by four cents. On Nymex, Crude Oil are trading at $59.04/barrel, rose by 55 cents or almost one percent on bets of US supply drop for which data is to be published later in the day. Natural Gas is now trading at $2.98 per mmBtu with little bit positive bias after yesterday’s plunge. On LME, all the base metals are trading in the red on back of stronger dollar against other currencies. Copper are currently quoting at $6209 per tonne, slumped to fresh three-week low while Zinc are trading at $2212 per tonne, down more than one percent, most among the pack. Nickel and Lead are also down by 105 dollars and 20 dollars respectively.

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