Wednesday September 08 , 2010
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Crude Oil

US crude oil prices rose for the first day in six as US inventories fell...

Crude Oil

US crude oil prices rose for the first day in six as US inventories fell. US crude oil stocks surprisingly fell by 2.2 million barrels - analysts had tipped a gain of 1.5mb. The Nymex crude oil contract rose by US$1.79 or 2.1pct to US$85.84 a barrel and London Brent crude rose by US$1.43 to US$86.15 a barrel.
 

OPEC forecast for call on OPEC crude...

Crude Oil

We expect that OPEC will leave oil production targets unchanged following the 22 December OPEC meeting. Oil prices are about levels which key OPEC members have in the past said were appropriate. OPEC has tended to put emphasis on oil market fundamentals rather than just oil prices when determining production policies. OPEC’s last Monthly Oil Market Report forecast that required OPEC crude in 2010 will be almost 0.2 million bpd less than in 2009.

Read more: OPEC forecast for call on OPEC crude...

   

Oil prices were higher during USA session...

Crude Oil

Oil prices were higher last night during USA session, also benefiting from the soft tone of the USD and positive vibes emanating from international equity markets. NYMEX light sweet crude (December 2009 contract) settled at around USD78.89/b.

The Gold price ratcheted higher still, benefiting from investment flows associated with USD weakness.

   

Crude Oil prices fell 3% to USD 76.93/bbl...

Crude Oil

Crude Oil prices fell 3% to USD 76.93/bbl last night after the Energy Information Administration’s weekly inventory report showed a 1.8 million barrel increase in US crude oil inventories, more than had been expected by the market. Refiners cut production on weak end demand.
   

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Gold Future and Spot

Gold rates, gold trading

Gold prices slipped a little lower last night influenced by technical selling...  2010-03-10  Read More

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