Markets to Watch Today

Crude Oil: November Crude Oil fell back below $63 a barrel on Thursday, as mixed signals of production cuts from OPEC reduced fears. Crude Oil was trading up near $64 a barrel in early trading, as Nigeria hinted they were going to cut exports by 5% starting October 1. Crude Oil futures then retreated, as OPEC officials refuted that claim, saying they had no knowledge of any cuts from any member. November Crude Oil futures fell 20 cents, to settle at $62.76 a barrel.

Natural Gas: Natural Gas futures fell hard on Thursday, dropping the contract to prices not seen in nearly two years. The 4.9% decline was a result of data from the Energy Department showing stored supplies were still high for this time of year. Natural Gas inventories rose 77 billion cubic feet for the week ending September 22. November Natural Gas futures fell 27.7 cents, to settle at $5.392 per million British thermal units.

Gold: Gold futures continued the recent bull market on Thursday, climbing back above $610 a troy ounce. Yesterday’s closing price was the highest in three weeks. However, Gold still remains far below its peak of $719.80 in May. Strong overseas demand continues to be the underlying factor behind the bounce back. December Gold futures closed the day with gains of $6.20, to settle at $603.30 a troy ounce.