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Tuesday, September 26, 2006

Markets to Watch Today

Crude Oil: November Crude Oil fought off early selling pressure, to rebound above $61 a barrel on Monday. The reversal was attributed to buying from a major European bank, along with support at the $60 a barrel mark. This came after Crude Oil traded at a ten-month low of $59.65 a barrel in early trading. November Crude Oil gained 90 cents, to settle at $61.45 a barrel.

Natural Gas: Natural Gas futures provided a continuation of last week’s declines on Monday. The same underlying fundamentals of increasing inventories and decreasing hurricane fears continue to rock the market. Monday’s intraday low of $4.42 is the lowest front-month price seen since October 2003. October Natural Gas futures ended the day down 15.2 cents, to settle at $4.475 per million British thermal units.

Gold: December Gold futures continued to find strength in the wake of last week’s 2% rally. Gold futures rebounded from early losses, finding support from a reversal in Crude Oil, which saw prices hit intraday highs over $62 a barrel. December Gold futures ended the day slightly higher, rising 50 cents, to settle at $595.90 a troy ounce.