forexsq.com - Crude-oil futures sank Monday, hit by comments from Saudi Arabia’s oil minister and an escalating political crisis in Greece.
Crude for June delivery CLM2 -1.72% lost $2.05, or 2.1%, to trade at $94.09 a barrel on the New York Mercantile Exchange, hovering at their lowest since mid December.
forexsq.com - Crude-oil futures fell below $97 a barrel on Tuesday, poised to extend their declines for a fifth session, as weakness in global markets in the wake of elections in Europe dented expectations for economic growth.
Crude for June delivery CLM2 -1.35% fell $1.46, or 1.5%, to $96.53 a barrel on the New York Mercantile Exchange, an acceleration following a drop of 55 cents in the prio
Gold fell on Friday and was on
track for its biggest weekly drop in a month, reflecting caution
among investors ahead of a key U.S. payrolls report after a slew
of weak economic data drove bullion down in the last three
sessions.
But a weaker-than-expected gain in the widely-watched U.S.
jobs data could hit the dollar by raising expectations of a
third round of quantitative easing, bo
forexsq.com - Gold fell 1 percent on Thursday as tumbling crude oil prices and weak U.S. service-sector data sent bullion prices to their biggest one-day drop in a month ahead of a key U.S. nonfarm payrolls report.
The metal, which for most of the year has tracked the performance of riskier assets, accelerated losses after data showed the ISM services index fell to 53.5 last month from 56.0 in
Brent crude dropped 1 percent on Tuesday as supply concerns eased about a potential Iranian disruption of a key oil choke point and Saudi Arabia signaled it was ready to increase exports to meet the loss of any of shipments from Tehran.
The OPEC kingpin has sought to calm worries that the West's standoff with Iran over its nuclear program could roil global markets, and said late on Monday it w
Norway’s sovereign wealth fund, Europe’s largest stock investor, lost 86 billion kroner ($15 billion) last year as equities slumped on concern the region’s debt crisis might tip the global economy into recession.
The $600 billion Government Pension Fund Global fell 2.5 percent, as measured by a basket of currencies, its third worst annual loss since 1998, the Oslo-based investor said today. It
Forexsq.com - Oil climbed over $110 a barrel for the first time since May after an Iranian state-run news channel reported an explosion on a pipeline in Saudi Arabia. A Saudi official said no oil facilities were sabotaged.
Futures reached $110.55 at 3:17 p.m. in New York after Iran’s Press TV reported on its English-language website that “an explosion has hit oil pipelines in the flashpoint Sa
ForexSQ.com - Crude-oil futures declined in electronic trading Monday as U.S. stock-index futures and most Asian share markets fell and the dollar strengthened amid lingering worries over Greece.
The March contract for light, sweet crude-oil futures CL2H -0.71% on the New York Mercantile Exchange fell 48 cents, or 0.5%, to $99.08 a barrel during Asian trading hours.
Forexsq.com - Gold price 'to hit $2,000 an ounce'In September gold hit a record of $1,920 an ounce but an annual survey from Thomson Reuters predicts the price will rise again as investors search for a safe haven from US economic woes and low interest rates in Europe Gold prices are on the march again. Forecast to power past $2,000 (£1,300) an ounce later this year or in early 2013, the prices wi
The financial stress in global markets continues unchecked and it could cause a global recession to re-emerge. This has resulted in the near-term demand outlook for commodities being lowered and prices have suffered as a consequence.
The normal signposts for the future, such as central bank reactions to economic development, are currently lacking. As a result, far from predictable GDP and inflation developments create distressed valuation levels and there is no market conviction.
The monthly price index of 55 global food commodities, issued by the UN FAO, averaged 231 points in August and was nearly unchanged from July, but 26 percent higher than a year ago.
A sharp rise in domestic government spending by Saudi Arabia and other key Arab oil exporters threatens to upset the mutually beneficial relationship they’ve kept for decades with energy consumers worldwide.
A wave of popular protests sweeping the Middle East and North Africa has toppled regimes in Tunisia and Egypt and led to civil war in Libya. It has also forced the region’s rulers to launc
The ability for the market to establish back above 6.20 suggests that some form of a material base could finally be in place and we could be on the verge of a trend shift. From here, look for a break back above 6.52 for additional confirmation, with setbacks now expected to be well supported above 6.20 on a daily close basis.
The correlation between the WTI contract and the S&P 500 remains firm, putting the spotlight on tomorrow’s revised first-quarter US Gross Domestic Product figures. Expectations call for the headline quarterly growth reading to be nudged higher to 2.2 percent from the originally reported 1.8 percent result. Risky assets seem to be treating the adjustment as a positive development despite its impli