Crude Oil And Heating Oil Hit 3-Month Low

Crude Oil and Heating Oil resume
their recent decline as mild weather persists across the northern US.

Falling demand continues to drive prices lower, with both contracts hitting
3-month lows today, and warm weather expected for the rest of the week. Among
the energies, only Natural Gas managed to buck the trend to close higher by
almost 4.5%.

Without any major economic reports bonds and forex trading was
lackluster today. The US Dollar Index closed fractionally lower, helped in part
by the Yen which snapped a 6-day losing streak. While Treasuries closed slightly
higher, ending a 4-day slide. The most interesting thing about the decline in
Treasury prices is the Commercials have been heavy net-buyers as the decline has
gone on and are now approaching record net-long positions, especially in the
5-yr and 30-yr.

The metals closed higher, grains were lower, except for Corn,
softs were mixed and livestock closed higher.

TradingMarkets Commodities Watch List

Commodity
(Symbol)
Price Price Change % Change

Energies

Crude Oil (CL) 59.47
-1.11

-1.83
Heating Oil (HO) 178.61
-1.01

-0.56
Unleaded Gas (HU) 155.61
-5.19

-3.23
Natural Gas (NG) 12.61
+0.55

+4.55

Metals

Gold (GC) 460.40
+2.50

+0.55
Silver (SI) 760.50
+3.20

+0.42
Copper (HG) 184.75
+0.15

+0.08

Grains

Corn (C)

194.75
+0.75

+0.39
Wheat (W) 310.00
-0.75

-0.24
Soybeans (S) 583.00
-9.00

-1.52

Softs

Sugar (SB) 11.56
+0.03

+0.26
Coffee (KC) 102.95
-0.95

-0.91
Cocoa (CC) 1322.00
-22.00

-1.64
Frozen Orange Juice (JO) 124.25
+0.95

+0.77
Cotton (CT) 51.26
-0.18

-0.35
Lumber (LB) 332.30
-0.40

-0.12

Livestock

Lean Hogs (LH) 63.75
+1.48

+2.37
Live Cattle (LC) 91.80
+0.33

+0.36


Economic News

Consumer Credit:

M/M Change – Actual $6.0 Bln

Ashton Dorkins

ashtond@tradingmarkets.com