Energy Futures Decline As Inventories Rise
Oil and Gas futures fell after the
weekly Petroleum Status Report was released by the Energy Department.
The EIA reported that Crude Oil Inventories rose 2.7 Mln.
barrels and Gasoline Inventories rose 1 Mln. barrels last week (report).
Energy prices closed lower across the board with Heating Oil and Unleaded Gasoline
leading the decline.
Crude Oil fell below $59 intraday, the lowest level since July
and Heating Oil closed at a 3-month low.
On the economic front, The Mortgage Bankers Association’s
Weekly Market Index fell 4.8%, the Purchase Index dropped 6.2% and the Refi
Index declined 2.8% (report).
The US Dollar Index declined, along with Treasury prices
today. The US government announced that it will begin selling the 30-year
Treasury bond again on February 9, 2006.
TradingMarkets Commodities Watch List
| Commodity (Symbol) |
Price | Price Change | % Change |
|
Energies |
|||
| Crude Oil (CL) | 59.70 | -0.15 |
-0.25 |
| Heating Oil (HO) | 178.29 | -2.21 |
-1.22 |
| Unleaded Gas (HU) | 158.00 | -2.36 |
-1.47 |
| Natural Gas (NG) | 11.60 | -0.26 |
-2.16 |
|
Metals |
|||
| Gold (GC) | 464.60 | +4.00 |
+0.87 |
| Silver (SI) | 756.00 | +9.00 |
+1.20 |
| Copper (HG) | 183.05 | +1.45 |
+0.80 |
|
Grains |
|||
|
Corn (C) |
196.00 | +0.75 |
+0.38 |
| Wheat (W) | 313.00 | -4.00 |
-1.26 |
| Soybeans (S) | 585.00 | -0.50 |
-0.09 |
|
Softs |
|||
| Sugar (SB) | 11.47 | +0.23 |
+2.04 |
| Coffee (KC) | 101.05 | +3.95 |
+4.07 |
| Cocoa (CC) | 1369.00 | +1.00 |
+0.07 |
| Frozen Orange Juice (JO) | 119.85 | +2.15 |
+1.83 |
| Cotton (CT) | 52.29 | +0.18 |
+0.35 |
| Lumber (LB) | 315.00 | +3.00 |
+0.96 |
|
Livestock |
|||
| Lean Hogs (LH) | 61.80 | +0.95 |
+1.56 |
| Live Cattle (LC) | 90.30 | +0.38 |
+0.42 |
Economic News
MBA Purchase Applications:
Purchase Index – Actual 437.6
EIA Petroleum Status Report:
Crude Oil Inventories, W/W Change – Actual +2.7 Mln Barrels
Gasoline Inventories, W/W Change – Actual +1.0 Mln Barrels
Ashton Dorkins