Wednesday, 17 June 2015

Commodity Market Update (Crude Oil)

On Comex, Precious metals remained muted as investors looked ahead to the Federal Reserve’s monetary policy statement due later in the day for fresh triggers. Gold future prices are trading at $1178 per troy ounce, down by two dollars while Silver prices are trading at $15.95 per troy ounce with flat note. On Nymex, WTI Crude Oil prices edged higher as traders speculate that today’s upcoming weekly US supply data will be dropped. Crude oil  is trading now at $61.18 per barrel, higher by two percent while Natural Gas is trading at $2.90 per mmBtu, almost flat. On LME, all the base metals are trading in the green except Zinc ahead of FOMC statement. Copper is currently quoting at $5768 per tonne, up by 17 dollars and Nickel prices are trading at $12825 per tonne, higher by 135 points. Lead is selling at $1809 per tonne, lower 11 dollars while Zinc is trading at $2093 per tonne, lower by two dollars.

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