Crude oil advanced after the three-day low of USD $ 98.21 which it plunged to yesterday. WTI crude futures recovered by 1.31 percent to USD $ 99.50 a barrel. After unexpectedly falling by 5.5 percent on account of data which showed that contrary to expectations, US Gasoline stocks increased instead of decreasing in anticipation of…Read more
May 2011
Oil price update: US Stockpile and Gasoline inventories climb – commodities and precious metals tumble
Yesterday’s crude US stockpile and inventory update was heard around the world. While analysts expected crude inventories to rise, gasoline inventories were expected to dip in anticipation of the summer driving season. However demand for petroleum products at the gas pump in the US was not just flat but down. U.S. crude oil stocks rose…Read more
Currencies Exchange Rate Update- Yen Depreciates, USD Rises
The Yen depreciated against other major currencies, as a recovering global economy reduced the demand of safe-haven currencies such as the Yen and the Swiss Franc. The USD-JPY exchange rate rose by 0.0399 percent to 80.9155 Yen. Also, the strong economic news helped in appreciating the US Dollar against the Euro. The Euro-USD exchange rate…Read more
Gold and Silver Price Update-Commodities Register Increases as Inflation in China rises
Gold and silver made advances because the risings level of interest in China, coupled with renewed fears about Greece defaulting on its external dept, have increased the demand for these precious metals as safe-havens. Silver future advanced by 1.47 percent to USD $ 39.05 an ounce. Gold futures increased by 0.40 percent to USD $…Read more
Oil Futures Advance
Oil futures rose yesterday, as concerns about the flooding of the Mississippi River forced oil futures to rise, in spite of signs that the Chinese economy was slowing down. WTI crude future increased by 0.16 percent to USD $ 104.05 a barrel. Brent crude future was at USD $ 117.63 a barrel. The flooding of…Read more
Silver Advances on Account of Downgrading of Greece’s Credit Rating
Silver futures advanced from their highest weekly drop since 1975 on account of Standard & Poor(S & P) revising Greece’s credit rating downwards. Silver futures rose by 1.72 percent to be at USD $ 37.755 an ounce. Meanwhile, gold futures advanced by 0.55 percent to USD $ 1511.50 an ounce. S&P cut Greece’s credit ratings…Read more
Oil Futures Decline After Surging to 3-day High
Crude oil futures declined at the end of trading yesterday, after surging to a three-day high on account of traders taking advantage of the price surge in order to gain profits. WTI crude futures fell by 1.37 percent to USD $ 101.15 a barrel. Brent crude futures declined by 1.22 percent to USD $ 114.49…Read more
Oil Futures Decline After Surging to 3-day High
Crude oil futures declined at the end of trading yesterday, after surging to a three-day high on account of traders taking advantage of the price surge in order to gain profits. WTI crude futures fell by 1.37 percent to USD $ 101.15 a barrel. Brent crude futures declined by 1.22 percent to USD $ 114.49…Read more
Exchange Rates Update- Euro Appreciates, Reversing Declining Trend.
The Euro reversed its declines against the US Dollar which it had been experiencing for the past two days amidst signs that the currency does not appear to be weakening anytime soon. The Euro-USD exchange rose to USD $1.4408, increasing by 0.6416 percent. Last Friday, European Union officials agreed to review the terms of the…Read more
Commodities Price Update-Silver, Gold Overturn Last Week’s Losses
Silver futures regained after their worst weekly decline since 1975, while gold futures increased in value too. Silver futures rose by 2.43 percent to USD $ 36.145 an ounce. Gold futures rose by 0.83 percent to USD $ 1504 an ounce. The rebound in the commodities market was spurred by the idea that investors would…Read more