Crude Oil Nears $60

Energy prices continued their recent
run of strength,
as cold weather across the Midwest and the first
winter snowstorm hit the Northeast US. Crude Oil and Heating Oil closed higher
despite a late selloff but Unleaded Gasoline and Natural Gas closed in the red.

However, it was the FX market the stole the limelight today
after Japan’s Finance Minister stated the decline in the value of the Yen is not
a concern. The Yen hit a 32-month low versus the Dollar and a new low versus the
Euro.

Treasuries fell after the
ISM Non-Manufacturing Index for November was 58.5 (report).

Comments made today by President Bush and the Fed’s Olson can be found in our
Economic
News
section.

Lumber closed limit-down as traders expect the
Commerce Department to reduce its tariff on Canadian lumber to comply with
NAFTA.

TradingMarkets Commodities Watch List

Commodity
(Symbol)
Price Price Change % Change

Energies

Crude Oil (CL) 59.91
+0.59

+0.99
Heating Oil (HO) 178.96
+1.76

+0.99
Unleaded Gas (HU) 158.98
-2.15

-1.33
Natural Gas (NG) 13.66
-0.27

-1.95

Metals

Gold (GC) 513.00
+0.40

+0.14
Silver (SI) 870.00
+0.88

+1.02
Copper (HG) 200.60
-0.15

-0.07

Grains

Corn (C)

206.75
+3.50

+1.72
Wheat (W) 320.00
+0.25

+0.08
Soybeans (S) 574.00
+11.25

+2.00

Softs

Sugar (SB) 13.26
+0.41

+3.19
Coffee (KC) 95.85
+1.45

+1.54
Cocoa (CC) 1440.00
-43.00

-2.90
Frozen Orange Juice (JO) 120.55
-6.00

-4.74
Cotton (CT) 52.27
+0.50

+0.97
Lumber (LB) 329.50
-10.00

-2.95

Livestock

Lean Hogs (LH) 66.32
+0.10

+0.15
Live Cattle (LC) 95.75
-0.08

-0.08


Ashton Dorkins

ashtond@tradingmarkets.com


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