Markets to Watch Today
Crude Oil: Crude Oil futures fell for the fourth straight day, closing at new five-month lows. Yesterday’s decline can be attributed to BP’s announcement of a return to full production at Prudhoe Bay. The four-session decline in Crude Oil has now reached 4%. The October Crude Oil contract closed down 18 cents at $67.32 a barrel.
Natural Gas: Natural Gas futures closed at their lowest level in almost two years, after U.S. data showed a rise in domestic supply. According to WTRG’s Williams: “This is the first above normal injection in a long time”. October Natural Gas closed down 27.6 cents at $5.718 per million British thermal units.
Gold: Gold futures fell for the second straight day, creating a two-session total loss of $22 an ounce. There were several factors leading to the decline. The main factors were the recent rise in the Dollar, coupled with declines in Crude Oil. Also factoring in were news releases of major mine expansions in South Africa, and rising production in China. December Gold futures closed down $16.90 at $624.90 a troy ounce
Natural Gas: Natural Gas futures closed at their lowest level in almost two years, after U.S. data showed a rise in domestic supply. According to WTRG’s Williams: “This is the first above normal injection in a long time”. October Natural Gas closed down 27.6 cents at $5.718 per million British thermal units.
Gold: Gold futures fell for the second straight day, creating a two-session total loss of $22 an ounce. There were several factors leading to the decline. The main factors were the recent rise in the Dollar, coupled with declines in Crude Oil. Also factoring in were news releases of major mine expansions in South Africa, and rising production in China. December Gold futures closed down $16.90 at $624.90 a troy ounce
posted by XPRESSTRADE, LLC at 9/08/2006 06:17:00 AM
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