Wednesday, 4 June 2014

Commodity Market Update (Crude Oil

Precious metals are trading higher with Gold trading up by 0.16% and Silver is up by 0.33% at 1246.50 and 18.88 an ounce. The near term bias is neutral and we can see prices trading in a narrow range in the coming hours. Crude Oil and Natural Gas prices on NYM are trading mixed with Crude Oil recording gains of more than half a percent at 103.24 and Natural gas is trading down by 0.04% at 4.62 per mmbtu. Crude Oil weekly inventories report is scheduled to release later today and may set direction for prices. Base metals on LME are trading sharply down today, Copper and Aluminum are down by more than a percent and is expected to continue the same while rest of the metals are likely to take cues from Copper.
Photo: Commodity Market Update (Crude Oil):
Precious metals are trading higher with Gold trading up by 0.16% and Silver is up by 0.33% at 1246.50 and 18.88 an ounce. The near term bias is neutral and we can see prices trading in a narrow range in the coming hours. Crude Oil and Natural Gas prices on NYM are trading mixed with Crude Oil recording gains of more than half a percent at 103.24 and Natural gas is trading down by 0.04% at 4.62 per mmbtu. Crude Oil weekly inventories report is scheduled to release later today and may set direction for prices. Base metals on LME are trading sharply down today, Copper and Aluminum are down by more than a percent and is expected to continue the same while rest of the metals are likely to take cues from Copper.

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