Let’s quickly review the changes in major energy commodities market and precious metals for February 9th: Oil and Gas prices: Crude oil price (WTI spot) after falling all week, yesterday it bounced back by 1% as it settled on 86.71 $/b. Brent spot price, also inclined to reach 101.73$/b, an increase of 2.5%. During the month of February, WTI spot prices declined by 3.2%, while Brent spot increased by 1.3%.…
Let’s examine the energy markets and the related news that might affect major commodities’ prices such as crude oil price for today, February 9th: Bloomberg reports a rise in WTI crude oil price today, as they announce of a decline in petroleum inventories in the US for the first time in the last five weeks. The EIA will issue its full report on this subject later on today (for more…
As we progress away from January, the worst performing month for gold and silver prices as the average monthly spot gold price fell by 2.5% compare to December, it’s high time to analyze the performance of gold during that month. The last time gold prices declined by such as rate was back in July 2010. Since then, traders are use for spot gold price to rise with no apparent decline,…
The second day of the week, presented weakness for most of the energy commodities; precious metals, on the other hand, showed some strength as gold and silver prices rose. Let’s quickly review the changes in major energy commodities market and precious metals for February 8th: Oil and Gas prices: Crude oil price (WTI spot) fell for the fourth straight business day, yesterday it declined by 0.62% as it settled on…
The second week of February started with falls in major oil and gas prices, including crude oil price (WTI spot) and gas prices (Henry Hub spot). Let’s quickly review the changes in major energy commodities market and precious metals for February 7th: Oil and Gas prices: Crude oil price (WTI spot) fell for the third straight business day, yesterday it declined by 1.74% as it settled on 87.48 $/b. Brent…
In a previous post I have examined the correlation between crude oil price and S&P 500; now let’s take a look at the relation between spot gold price and S&P 500 and whether the changes in the stock market trend linearly correlated with spot gold price. Why this question is interesting? Many consider that investors pushed their money away from financial markets (e.g. stock market) as the uncertainty level in…
Here is a weekly outlook for the week of February 7th to 11th showing the news items and reports that will be published this coming week mainly related to the US, Canada and German economies. In addition, to the reports that will be published this week, one of the main news that will continue affecting major commodities prices is the status in the Middle East, in particular, the turmoil in…
During the week of January 31 to February 4th gold and silver prices showed strength for most of the week, after both precious metals declined at the previous week. Let’s see the main changes for these precious metals prices: The recent rally of gold and silver prices, Bloomberg consider it pertaining to the current turmoil in the Middle East during the beginning of the week and the decline at the…
Natural gas spot price During the week, there were extreme cold weather in many parts throughout the US and Canada; e.g. there were many reports of heavy snow in the Midwest of the US. This affected above all for the volatility of natural gas prices during the week, and despite the sharp rises in the beginning of the week, the prices have sharply declined at the end. Let’s check out…
Crude oil price continued to fall during the end of the week, despite the price hike it gained during the beginning of the week, mainly related to the turmoil in Egypt. Here is a weekly recap for January 31 to February 4th on the main changes in crude oil price, recapping the highlights on petroleum stocks, production and consumption in the US, and the main news regarding the Egyptian riots…
On Friday, February 4th, Federal Reserve Chairman – Ben Bernanke gave a speech on the monetary policy of the Federal Reserve for the near future. He said that the Fed will continue with its plan to purchase treasury worth of 600$ billion, i.e. quantitative easing 2. According to the chairman, this monetary policy easing will help reduce the short and, consequentially, long term interest rates and ease the financial condition,…
On Friday, February 4th, the Bureau of Labor Statistics published the U.S. employment report for the month of January 2011. According to the report, the U.S. unemployment rate fell by 0.4 percent point during December, from 9.4% to 9.0%. This 0.4% decline is the same as it was during December 2010. The number of unemployed has dropped by 600 thousand people to 13.9 million. Further, the non-farm payroll employment has…
