Other Markets

Nymex crude prices bounced higher yesterday after falling ahead of the FOMC. The announcement that interest rates would be held down close to zero until 2014 at the earliest, and the spectre of QE3 as early as next month, led a huge risk rally which undid the slide in euro and gold following a raft […]

Crude futures prices fell Wednesday as investors position ahead of a weekly government report that is expected to show an increase in U.S. oil stockpiles. Light, sweet crude for March delivery recently traded 55 cents, or 0.6%, lower at $98.40 a barrel on the New York Mercantile Exchange.

Nymex crude prices eased back yesterday with lack of any further developments over Iran, but found some support from talk of some refinery closures. The weekly API data last night reported a massive 7.3 million barrel build in crude inventories over the latest week which was well above analysts expectations but traders remain cautious ahead […]

Nymex WTI crude prices headed higher yesterday as some risk appetite returned and euro-dollar and gold both headed higher. Calls from European leaders to bolster the ESM and EFSF led the move, but the main driver appears to have been the agreement in Brussels of the EU oil import embargo on Iran as traders factored […]

Crude oil futures were modestly higher Monday after the European Union agreed to slap an embargo on oil imports from Iran. Traders said the widely telegraphed move had been largely priced into the market, resulting in a somewhat muted price response.

Spot Gold prices eased back marginally yesterday as some profit taking emerged after the metal hit week’s highs of $1670.25 in Europe. The metal opened in Asia at $1660 building higher on some risk on sentiment ahead of Spanish and French bond auctions, where the market pre-empted the strong demand.

Nymex crude prices fell back yesterday despite some strong EIA data which beat analysts expectations. The report came in with a draw of 3.44mmbl which was in strong contrast to analysts forecast of a 3mmbl build, but this failed to impress with traders noting weak import demand and refinery utilization.

Crude futures rose Thursday after weekly jobless claims fell to the lowest level since April, 2008, offering some optimism on the U.S. economy. Light, sweet crude for February delivery gained $1.09, or 1.1%, to recently trade at $101.68 a barrel on the New York Mercantile Exchange.