Lower Prices At The Gas Pump Ahead?
Crude-oil futures continued to drag down today
on a growing sense that concerns over potential oil-supply disruptions stemming
from the Mideast conflict may have been overblown.
Contracts on crude oil for May delivery fell .37 cents to $26.21 a barrel while
trading on the New York Mercantile Exchange; earlier they went as low as $25.05.
Oil futures fell sharply on Thursday after President Bush addressed the
escalating Israeli-Palestinian conflict. May crude oil has support at 26 with
secondary support at around 25.37. Resistance is at 28.00.
Meanwhile May heating oil
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4.4 cent to close at 68.22 cents and May unleaded gasoline
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lost .63 to end at 81.70.
Blue chip stocks posted gains Friday as investors responded to a moderately
encouraging employment data and some upbeat profit reports.
The June Dow Jones Industrial Average futures
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10295.000 points up 75.00.
But the June Nasdaq 100 futures
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gave up 14.50 or 1.03 to close at 1389.00. The June S&P 500 futures rallied .300
to 1126.000. For the week the June S&P 500 futures lost 2.20.
June gold
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today. Selling by commodity funds, trade houses and local-floor brokers forced
gold lower. But concerns about the turmoil in the Middle East and in other areas
supported prices. June gold on the Chicago Mercantile Exchange fell $1.00 to
$301.00 an ounce. May silver
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ounce, following gold lower. May copper
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72.30.
After dropping lower for the past 3 trading
sessions, May soybeans
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resistance level. May beans closed at $4.64 1/2 up 5 1/2 or 1.20%. Corn prices
at the Chicago Board of Trade concluded another lackluster trading day settling
at or slightly above new contract lows, making today the third consecutive day
the market has moved below its previous lows. May corn
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at $2.00 3/4 a bushel, down 3/4 a cent. May wheat
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loser on the day, down 3 1/4 cents to $2.77 1/4 a bushel.
May cocoa
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to touch its resistance level and then pulled back to close at 1553.00 up 41.00.
May coffee
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