e-Coops

BY REUTERS

Posted 2/1/2007

Gold breached five-month highs Thursday, settling above $660 an ounce, as technical buying and strong fund interest helped the market break recent volatility. But energy prices remained fickle, ending lower in a yo-yo session amid nagging concerns over stockpiles.

A slew of late selling pulled U.S. crude oil futures sharply lower in a volatile session dragged down by bearish storage data on natural gas.

On the New York Mercantile Exchange, March crude settled 84 cents, or 1.4%, lower at $57.30 a barrel, after trading between $57.10 and $58.86. It was the first losing session in three.

The day’s high, spurred by forecasts calling for colder weather, was the highest since $60.97 on Jan. 3.

Temperatures in the Northeast and Midwest, both key gas-consuming regions, were forecast to remain below normal for the next 10 days, according to private forecaster AccuWeather. Heating demand in the Northeast, the key heating-oil-consuming region, will average near to above normal during most of the next five days, private forecaster DTN Meteorlogix predicted Thursday.

The National Weather Service’s eight- to 14-day outlook, released on Wednesday, called for below-normal temperatures for the Northeast, Mid-Atlantic and most of the Midwest. Seasonal or above-seasonal readings were expected in the West and in Gulf Coast states from Texas to Florida.

Forecasts of lengthening cold came just as distillate stocks fell for the first time in seven weeks last week, by 2.6 million barrels to 130 million barrels, according to data from the EIA released on Wednesday.

Inventory worries also dragged down copper, which lost 2.5% in both U.S. and U.K. trade.

In other commodities, cocoa led the action in softs, closing up 1.5% in New York at $1,641 a ton. Soybeans led grains, climbing $2 to $7.21-1/2 a bushel in Chicago.

Commodity indexes weighted on energy were down after tracking the drop in oil and gas.

The Reuters-Jefferies CRB Index, which includes crude oil and 18 other futures, ended down 0.66% at 299.22, pulling back from a 4 1/2-week high of 301.22 in the previous session. The Goldman Sachs Commodity Index, the most oil-weighted among its peers, slid 1% to 5,438.30.

Traders said there was also little influence on gold prices from the dollar, which was fairly subdued after Wednesday’s decision by the Federal Reserve to leave short-term interest rates unchanged.

This entry was posted on Tuesday, February 13th, 2007 at 10:32 am and is filed under . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

BY REUTERS

Posted 2/1/2007

Gold breached five-month highs Thursday, settling above $660 an ounce, as technical buying and strong fund interest helped the market break recent volatility. But energy prices remained fickle, ending lower in a yo-yo session amid nagging concerns over stockpiles.

A slew of late selling pulled U.S. crude oil futures sharply lower in a volatile session dragged down by bearish storage data on natural gas.

On the New York Mercantile Exchange, March crude settled 84 cents, or 1.4%, lower at $57.30 a barrel, after trading between $57.10 and $58.86. It was the first losing session in three.

The day’s high, spurred by forecasts calling for colder weather, was the highest since $60.97 on Jan. 3.

Temperatures in the Northeast and Midwest, both key gas-consuming regions, were forecast to remain below normal for the next 10 days, according to private forecaster AccuWeather. Heating demand in the Northeast, the key heating-oil-consuming region, will average near to above normal during most of the next five days, private forecaster DTN Meteorlogix predicted Thursday.

The National Weather Service’s eight- to 14-day outlook, released on Wednesday, called for below-normal temperatures for the Northeast, Mid-Atlantic and most of the Midwest. Seasonal or above-seasonal readings were expected in the West and in Gulf Coast states from Texas to Florida.

Forecasts of lengthening cold came just as distillate stocks fell for the first time in seven weeks last week, by 2.6 million barrels to 130 million barrels, according to data from the EIA released on Wednesday.

Inventory worries also dragged down copper, which lost 2.5% in both U.S. and U.K. trade.

In other commodities, cocoa led the action in softs, closing up 1.5% in New York at $1,641 a ton. Soybeans led grains, climbing $2 to $7.21-1/2 a bushel in Chicago.

Commodity indexes weighted on energy were down after tracking the drop in oil and gas.

The Reuters-Jefferies CRB Index, which includes crude oil and 18 other futures, ended down 0.66% at 299.22, pulling back from a 4 1/2-week high of 301.22 in the previous session. The Goldman Sachs Commodity Index, the most oil-weighted among its peers, slid 1% to 5,438.30.

Traders said there was also little influence on gold prices from the dollar, which was fairly subdued after Wednesday’s decision by the Federal Reserve to leave short-term interest rates unchanged.

This entry was posted on Saturday, February 10th, 2007 at 7:34 pm and is filed under . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

BY REUTERS

Posted 2/1/2007

Gold breached five-month highs Thursday, settling above $660 an ounce, as technical buying and strong fund interest helped the market break recent volatility. But energy prices remained fickle, ending lower in a yo-yo session amid nagging concerns over stockpiles.

A slew of late selling pulled U.S. crude oil futures sharply lower in a volatile session dragged down by bearish storage data on natural gas.

On the New York Mercantile Exchange, March crude settled 84 cents, or 1.4%, lower at $57.30 a barrel, after trading between $57.10 and $58.86. It was the first losing session in three.

The day’s high, spurred by forecasts calling for colder weather, was the highest since $60.97 on Jan. 3.

Temperatures in the Northeast and Midwest, both key gas-consuming regions, were forecast to remain below normal for the next 10 days, according to private forecaster AccuWeather. Heating demand in the Northeast, the key heating-oil-consuming region, will average near to above normal during most of the next five days, private forecaster DTN Meteorlogix predicted Thursday.

The National Weather Service’s eight- to 14-day outlook, released on Wednesday, called for below-normal temperatures for the Northeast, Mid-Atlantic and most of the Midwest. Seasonal or above-seasonal readings were expected in the West and in Gulf Coast states from Texas to Florida.

Forecasts of lengthening cold came just as distillate stocks fell for the first time in seven weeks last week, by 2.6 million barrels to 130 million barrels, according to data from the EIA released on Wednesday.

Inventory worries also dragged down copper, which lost 2.5% in both U.S. and U.K. trade.

In other commodities, cocoa led the action in softs, closing up 1.5% in New York at $1,641 a ton. Soybeans led grains, climbing $2 to $7.21-1/2 a bushel in Chicago.

Commodity indexes weighted on energy were down after tracking the drop in oil and gas.

The Reuters-Jefferies CRB Index, which includes crude oil and 18 other futures, ended down 0.66% at 299.22, pulling back from a 4 1/2-week high of 301.22 in the previous session. The Goldman Sachs Commodity Index, the most oil-weighted among its peers, slid 1% to 5,438.30.

Traders said there was also little influence on gold prices from the dollar, which was fairly subdued after Wednesday’s decision by the Federal Reserve to leave short-term interest rates unchanged.

This entry was posted on Wednesday, February 7th, 2007 at 3:13 pm and is filed under . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.