May 2011

Oil futures rebounded in New York, after going for the biggest weekly slump in 2008. WTI crude futures increased by 1.85 percent to be priced at USD $ 98.98 a barrel, while Brent crude futures rose by 1.56 percent to USD $ 110.83 a barrel. Oil futures rose in New York after it became apparent…Read more

Silver futures declined further, as the increase in the margins required continues to influence investors in selling off the commodity. Silver futures declined by 2.63 percent to close the market at USD $ 35.287 an ounce. On the other hand, gold advanced by 0.69 percent to be at USD $ 1491.60 an ounce. The CME…Read more

Oil futures fell for a fifth consecutive day, marking the longest declining streak since 2008. WTI futures dropped by 2.63 percent to last settle at USD $ 97.18 per barrel. In the process, they have dropped by 15 percent since their price at 29th April of USD $ 113.93 a barrel. Brent crude futures were…Read more

All commodities registered declines during today’s morning trading. WTI crude future dropped by 5.2 percent to USD $ 94.63 a barrel. Brent crude future dropped by 5.1 percent to USD $ 105.15 a barrel. Silver future fell by 3.99 percent to USD $ 34.795 an ounce, while Gold future regained its value by 0.41 percent…Read more

The Euro plunged against major currencies, after the European Central Bank decided not to raise interest rates to tackle inflation. At the time of market closure, the Euro-USD exchange rate registered a slight gain of 0.0325 percent to be at USD $ 1.4544. The European Central Bank president, Jean Claude-Trichet, announced that the central bank…Read more

Gold and silver registered decline in their prices, as commodities generally dropped in value due to a series of news hinting towards a weak outlook of the global economy. Silver future last settled in at USD $ 34.825 an ounce, falling by 3.90 percent, while gold future made a slight gain of 0.45 percent and…Read more

Oil prices made advances after plunging by the biggest percentage decline in two years. WTI crude future gained by 0.44 percent to last settle in at USD $ 100.24 per barrel. Brent crude future closed the market at USD $ 111.90 per barrel, increasing by 0.99 percent. Oil fell dramatically by 8.6 percent on the…Read more

Four days ago, I recommended that we short oil and commodities post the OBL event. Today is pay day. WTI broke into double digits after trading above 110 while Brent headed lower to the 111 range all the way down from 120. While the list of culprits is long, ECB decision to hold rates, the…Read more

Four days ago, I recommended that we short oil and commodities post the OBL event. Today is pay day. WTI broke into double digits after trading above 110 while Brent headed lower to the 111 range all the way down from 120. While the list of culprits is long, ECB decision to hold rates, the…Read more

The Euro gained against the US, on expectations that the European Central Bank is looking towards increasing interest rates to combat inflation. The Euro/USD exchange rate rose by 0.2210 percent to be at USD $ 1.4860. The European Central Bank President, Jean-Claude Trichet, is expected to announce today an increase in the interest rates in…Read more