Wednesday, 19 June 2013 02:48
Posted by Asad Naeem
NEW YORK: US spot natural gas prices rose across the country for a second straight day on Tuesday, boosted by warm weather increasing air-conditioning demand in some regions as well as above-normal nuclear power plant outages.Traders also said cash gas was rising in tandem with a second straight day of gains in the gas futures market, where prices were lifted by forecasts for continued warm weather through the remainder of the month.The Weather Channel's weather.com ...
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NEW YORK: ICE cotton closed down on Wednesday in its longest string of one-day losses in more than two weeks, as long liquidation continued and rains in Texas eased concerns over supplies in the United States, the world's top exporter.The benchmark December cotton contract on ICE Futures US settled down 0.72 cent, or 0.8 percent, at 86.60 cents per lb."We're in this summer weather market. There was some rain in Texas, which is certainly substantial," said a US trader.The top growing state in the United States has been plagued by drought conditions, creating concern over reduced US output in the new crop year that begins Aug. 1.Recent rains have eased worry and pushed December prices to a third straight daily loss, the third-month contract's longest string of down sessions since the end of May.Dealers eyed a US Department of Agriculture (USDA) acreage report due next week for an updated acreage ...
NEW YORK/LONDON: Gold fell to a one-month low on Wednesday after the US Federal Reserve chairman said he expects to slow the pace of the central bank's bond purchases later this year and bring them to a halt around mid-2014.After trading higher most of the session, bullion prices tumbled after the Fed sharply lowered its forecast for inflation in a statement released at the end of its two-day policy meeting.The precious metal fell further after ...
NEW YORK: Oil prices came under pressure on Wednesday while gold and copper fell after Federal Reserve Chairman Ben Bernanke said the central bank could begin to scale back its stimulus measures for the US economy later this year .Agricultural markets rose broadly. Wheat had its biggest rally since April on bargain buying and expectations the grain will be used as a livestock feed.The rally in farm futures helped the 19-commodity Thomson Reuters-Jefferies CRB index ...
NEW YORK: Despite an unexpected build in US oil inventories, US oil prices Wednesday declined only modestly.Analysts said the small price decline showed the oil market's continued bullishness.US benchmark West Texas Intermediate for delivery in August dipped 20 cents to $98.24 a barrel.In London European benchmark Brent crude for August added 10 cents at $106.12.The US Department of Energy on Wednesday said that US crude reserves last week climbed by 300,000 barrels to 394.1 million ...
NEW YORK: US spot natural gas prices rose across the country for a second straight day on Tuesday, boosted by warm weather increasing air-conditioning demand in some regions as well as above-normal nuclear power plant outages.Traders also said cash gas was rising in tandem with a second straight day of gains in the gas futures market, where prices were lifted by forecasts for continued warm weather through the remainder of the month.The Weather Channel's weather.com ...
NEW YORK: Oil prices ended slightly higher on Tuesday in sluggish trading as the market awaited the Federal Reserve's policy statement on Wednesday that is expected to show whether it will reduce its monetary stimulus.The program has been largely supportive of oil prices.Brent oil was off an 11-week high set in the previous session and US crude oil had dropped from a nine-month high.Until the Fed's policy decision, oil trading will be largely muted, said ...
