Energy Prices Rise As Temperatures Fall
Energy prices closed higher today as
colder weather was forecast for the Northern US and Europe over the coming week.
However, the gains were modest and come after Crude Oil and Heating Oil set
multi-month lows last week.
With no economic news the Treasury and Currency markets turned
to today’s speech by Alan Greenspan for direction. The result was a selloff in
bonds with prices hitting their lows after the Fed Chairman warned that
foreigners appetite for US assets will reach a limit. The US Dollar Index closed
slightly higher.
Copper extended its record breaking run, hitting another new
all-time high today. Lumber closed lower as fears the housing boom may be fading
hit the markets. Coffee fell sharply, while Sugar continued its strong trend
higher that began in May.
TradingMarkets Commodities Watch List
| Commodity (Symbol) |
Price | Price Change | % Change |
|
Energies |
|||
| Crude Oil (CL) | 58.51 | +0.03 |
+0.05 |
| Heating Oil (HO) | 180.02 | +0.97 |
+0.54 |
| Unleaded Gas (HU) | 155.72 | +0.31 |
+0.20 |
| Natural Gas (NG) | 12.28 | +0.04 |
+0.36 |
|
Metals |
|||
| Gold (GC) | 469.10 | -0.30 |
-0.06 |
| Silver (SI) | 778.20 | +2.20 |
+0.28 |
| Copper (HG) | 191.35 | +0.80 |
+0.42 |
|
Grains |
|||
|
Corn (C) |
210.75 | +1.00 |
+0.48 |
| Wheat (W) | 328.25 | +2.25 |
+0.69 |
| Soybeans (S) | 595.00 | -5.50 |
-0.92 |
|
Softs |
|||
| Sugar (SB) | 11.75 | +0.29 |
+2.53 |
| Coffee (KC) | 103.70 | -6.95 |
-6.28 |
| Cocoa (CC) | 1351.00 | +4.00 |
+0.30 |
| Frozen Orange Juice (JO) | 121.50 | -0.95 |
-0.78 |
| Cotton (CT) | 53.87 | -0.42 |
-0.77 |
| Lumber (LB) | 329.10 | -9.80 |
-2.89 |
|
Livestock |
|||
| Lean Hogs (LH) | 66.80 | -0.50 |
-0.74 |
| Live Cattle (LC) | 93.95 | +0.50 |
+0.54 |
Economic News
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Ashton Dorkins