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Friday, May 12, 2006

Markets To Watch Today

Copper: Copper futures soared in yesterday's session, and as the 20 cent limit was met, trading halted for 15 minutes, and the limit was then raised to 40 cents. The contract flirted with the new limit, with the May contract reaching a high of 4.16. Tightening short-term supplies and massive fund interest fueled the rally. June Copper is trading at 3.93, down 5.30 cents this morning.

Crude Oil: Crude Oil topped the $73 mark yesterday, as world tensions escalate. Two Nigerian oil workers were kidnapped yesterday, as production in the region continues to be under attack. June Crude is trading at 72.88, down 44 cents in overnight trading.

Energies: Nymex revealed plans to open offices in Singapore next week. In an effort to capitalize on the increasing world interest in commodity trading, especially the energies. Singapore is the world's third largest oil-trading center, after New York and London.