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Wednesday, July 19, 2006

Markets To Watch Today

Crude Oil: Drops in both Gold and Copper futures contracts pushed down Crude Oil prices, as well, reversing any gains made on speculation of prolonged fighting in the Middle East. August Crude Oil contracts closed $1.76 lower at $73.54 a barrel.

Natural Gas: Natural Gas prices fell yesterday due to a drop in Crude Oil prices and forecasts reporting a reprieve from the latest heat wave passing through the United States. The August contract was down 22.8 cents, closing at $5.555 per million British thermal units.

Gold: Gold futures dropped for a second day in a row, due to conflict between Israel and Hezbollah remaining calm. A drop in Treasury prices, meaning higher yields, also contributed to the fall in Gold prices. The July contract closed down $22.30 an ounce at $628.30, and the most active August contract closed down $22.40 at $629.50 an ounce.