Markets to Watch Today
Crude-Oil: Yesterday, Crude Futures extended their losses to close at their lowest level in nearly two months. The Mid-East cease-fire, along with greater-than-expected production from Prudhoe Bay, remain the main factors for the sell-off. Crude fell $1.83 at $70.06 a barrel yesterday, bringing its weekly decline to 7%.
Copper: Rumors that the 11-Day strike had ended at Chilean Copper miner Escondida led to a sharp sell-off in Copper yesterday. These rumors were later denied by union leaders, saying any settlement was still “days away”. Copper fell 11.25 cents to close at $1.3575 a pound.
Orange Juice: A lower-than-expected 2006-2007 Florida crop estimate continues to drive-up prices in Orange Juice. Prices yesterday hit 16-year highs. The September contract gained 6.25 cents to close at $1.8385 a pound.
Copper: Rumors that the 11-Day strike had ended at Chilean Copper miner Escondida led to a sharp sell-off in Copper yesterday. These rumors were later denied by union leaders, saying any settlement was still “days away”. Copper fell 11.25 cents to close at $1.3575 a pound.
Orange Juice: A lower-than-expected 2006-2007 Florida crop estimate continues to drive-up prices in Orange Juice. Prices yesterday hit 16-year highs. The September contract gained 6.25 cents to close at $1.8385 a pound.
posted by XPRESSTRADE, LLC at 8/18/2006 06:26:00 AM
<< Home