Wednesday 3 December 2014

Commodity Market Update (Crude Oil)

Precious metals on CMX are trading higher since morning with Gold trading at 1203.60 up 4.30 points or 0.37% an ounce while Silver tested a high of 16.575 before settling at 16.49, up 3 cents or 0.21% an ounce. Base metals are continuing their last session’s declines except Nickel which is gaining around a percent or 135 points to 16435.00. Copper tested a low of 6361.00 before settling at 6389.00, down 28 points or half a percent followed by rest of the metals which are down more or less half a percent each. Light Sweet Crude Oil futures tested a high of 67.97 before settling at 67.44, up 0.57 points or 0.87% per barrel. Natural Gas is extending its last five days losing streak and tested a low of 3.83 before trading at 3.84, easing around a percent or 3 cents per mmbtu. Oil traders are waiting for EIA’s Crude Oil Inventories report tonight at 9.00PM with analyst forecast of 1.1 Mbd against the previous week of 1.9 Mbd.

Photo: Commodity Market Update (Crude Oil):
Precious metals on CMX are trading higher since morning with Gold trading at 1203.60 up 4.30 points or 0.37% an ounce while Silver tested a high of 16.575 before settling at 16.49, up 3 cents or 0.21% an ounce. Base metals are continuing their last session’s declines except Nickel which is gaining around a percent or 135 points to 16435.00. Copper tested a low of 6361.00 before settling at 6389.00, down 28 points or half a percent followed by rest of the metals which are down more or less half a percent each. Light Sweet Crude Oil futures tested a high of 67.97 before settling at 67.44, up 0.57 points or 0.87% per barrel. Natural Gas is extending its last five days losing streak and tested a low of 3.83 before trading at 3.84, easing around a percent or 3 cents per mmbtu. Oil traders are waiting for EIA’s Crude Oil Inventories report tonight at 9.00PM with analyst forecast of 1.1 Mbd against the previous week of 1.9 Mbd.

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