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Friday, August 11, 2006

Markets To Watch Today

Natural Gas: A larger than expected withdrawal of gas from storage, as reported by the U.S. government report, last slowed Natural Gas prices yesterday. The September Natural Gas contract closed down 12.2 cents at $7.529 MMBTu's.

Gold: A big sell off hit Gold futures yesterday, in spite of the terrorism threat in the United Kingdom. The December Gold futures contract fell $16, closing at $646 an ounce and the August Gold futures contract fell $15.60, closing at $634.90 an ounce.

Crude Oil: Crude Oil futures dropped yesterday as traders are betting that the recent terror attempt will dampen air travel resulting in a lower demand for jet fuel. Yesterday saw the largest decline in the front month contract in the last three months. Analysts say some profit taking was to blame. The September Crude Oil contact dropped $2.35, closing at $74 a barrel.