All About Commodity

[mynameisandhy]

Gold & Silver Slipping in Asia Market

 

Monday, March 12, 2012

 

Gold futures slipped in Asian electronic trading on Monday (12/3), following the correction that occurred in the stock market and commodities Asia.

 

Gold for April delivery fell U.S. $ 3.30, or 0.2%, to $ 1,708.20 an ounce on the Comex division of the New York Mercantile, during Asian trading hours.

 

Precious metals rose for three consecutive sessions, as the strengthening of global markets, driven by hopes Greece's debt restructuring and a bailout.

 

At the end of last week, Greece announced a bond swap deal with private lenders, which paved the way for the country to receive the second phase of the rescue fund. However, concerns about the Greek economy and the financial health of other European countries, has not gone away.

 

"Indications show that the new Greek bonds that will replace the exchange, trading at a huge discount on the gray market. This may reflect concerns that Greece should make further restructuring of debt in the future," said economist at Capital Economics.

 

Other metals also moved lower. Silver for May delivery fell 22 cents, or 0.6% to U.S. $ 33.99 per ounce. Copper May shrank two cents, or 0.4% to U.S. $ 3.84 per pound. April platinum fell U.S. $ 5.90, or 0.4%, to $ 1,679.00 per ounce, while palladium for June delivery fell U.S. $ 4.70, or 0.6% to U.S. $ 705.25 per ounce.

[mynameisandhy]

Rose gold, platinum prices skyrocketed beyond gold

 

Tuesday, March 13, 2012

 

Gold rose for the fourth time in five days as the strengthening of Asia and commodity exchanges before the meeting of the Federal Open Market Committee and the Greeks were preparing to receive bailout funds the second phase.

 

Spot gold rose 0.2 percent to 1705.40 per U.S. dollar after being down 0.7 percent yesterday as the strengthening of the dollar price of the data from the job market better than estimates by experts.

 

On 29 February, gold has the most severe since the daily penurunanya 2008 ago after the Fed chairman did not give a sign of further policy easing from the Fed that makes the dollar soared. The dollar declined slightly today against six other currencies including the euro and yen.

 

Euro-zone finance ministers today approved a bailout for Greece and will give its official approval on 14 March, one day before the IMF to contribute. This makes the stock market and commodity excited.

 

Spot gold with a purity of 99.99 percent on the Shanghai Gold Exchange declined slightly in the range of 346.98 yuan per gram to improve the previous 0.6 percent decline.

 

Platinum rose above the price of gold for the first time since last September due to fears of reduced production in South Africa and the development of the global automotive industry. One ounce of platinum can buy 1.0007 ounces of gold yesterday, the highest price since Sept. 19. Platinum to gold ratio in the range of 0.9967.

 

Platinum climbed for the fifth day, the length of the rally since October, rising by 0.5 percent to 1703 dollars per ounce. This year, platinum rose 8.2 percent. Spot silver rose 0.2 percent to 33.7175 per ounce, up 21.1 percent this year. While palladium is not corrected in the range of 701.75 dollars per ounce.

[mynameisandhy]

Gold: Correction Day-3

 

Wednesday, March 14, 2012

 

Gold was up the attenuation for day-to-3 in a row on Wednesday (14/03). Interests risky return hit the market and investors more interested in the shares.

 

Gold for April delivery fell $ 16.50 or 1% to as low as $ 1,677.90 per ounce in mid-day. Up at 13.15 pm, even gold has fallen back to $ 1671.70.

 

Thus, anti-inflation precious metals extend the correction post-fixed interest rate decision by the Fed and the waning of the possibility of monetary easing in the United States. The issue of quantitative easing increasingly blurred because of the labor sector and macroeconomic Americans tend to improve. As a result, gold began to lose favor by the owners of capital in the market. While the price of silver is also treading a similar performance, slid 17 cents, or half a percent, to $ 33.41 per ounce.

[mynameisandhy]

Gold Support Out Sentiment

 

Thursday, March 15, 2012

 

Investors buying today bolstered the performance of gold prices during Asian trading session. Anti-inflation precious metals are now engaged in positive territory after the decline overnight.

 

Physical buying in Asia helped the performance of gold prices. But consistency is not visible, so the price has not been a pretty solid prospect. The contract price is currently looking at $ 1640.86 or slightly weaker than a few hours ago. The spot price had climbed to $ 1644 before again falling. Sentiment is still bearish on the market considering the potential of diminishing the positive sentiment. Expectations of quantitative easing in the U.S. fail to occur due to an improved rate of the economy. While the threat of inflation in some countries also diminished so that there is no sentiment that could lead to price increases. Support for gold is at $ 1600 per ounce.

[mynameisandhy]

Although approaching level 106, the oil will record weekly drop

 

Friday, March 16, 2012

 

Crude oil moved up slightly in Friday's session, finding support after an Obama administration official denied reports that the U.S. and Britain have agreed to release strategic oil reserves and at the time the actors paasr consider an unexpected drop in U.S. consumer sentiment.

 

Light sweet crude oil futures contracts trade in April rose 72 cents, or 0.7 percent, to $ 105.83 per barrel on the New York Mercantile Exchange. Price trading down about 1.5 percent this week.

 

On Thursday, the contract of sale for the next month, but ended down 32 cents down at $ 103.78 level after Reuters reported that Britain and the U.S. have been discussing the possibility of releasing strategic oil reserves to ease the burden of rising crude oil and gasoline prices.

 

Consumer sentiment dipped to 74.3 in March from the beginning to the last level of 75.3 for the month of February, according to a report by the University of Michigan index / Thomson Reuters Friday.

 

Data released Friday morning by the U.S. Labor Department showed that consumer prices rose 0.4 percent in February, with core prices up 0.1 percent in seasonally adjusted.

 

Also on this day, the Federal Reserve reported that output of factories, mines and utilities was unchanged at last month, below Wall Street expectations with a rise of 0.4 percent.

[mynameisandhy]

Gold prices rebound from last week's decline

 

Monday, March 19, 2012

 

Gold prices rise to record this day, in line with the stock market and oil prices. At 13:14 pm Singapore time on the spot market price of gold rose 0.3% to U.S. $ 1665.18 per troy ounce.

 

Throughout last week, gold prices fell 3.1%. In fact, on March 14 last, the gold price could hit U.S. $ 1,634.53 per troy ounce. This is the lowest level since January 16 last.

 

While the price of oil contracts for April delivery rose 0.6% to U.S. $ 1665.10 per troy ounce on the Comex in New York.

 

There are a number of factors driving gold prices today. One of them, investors speculated, the data will be released this week will continue to show positive signals. For example, data on U.S. home purchases in February is predicted to rise to its highest level in two years. While in Europe, finance ministers were discussing the possibility of a combination of bailout funds for European crisis management.

 

"The economic data that will be released this week seems to still be positive. For the time being, the price of gold would be traded sideways. For, although the price of gold could rally because of the risk assets, however, can also be depressed gold price as low demand for gold," said Sun Yonggang , an analyst at Everbright Futures Co.

[mynameisandhy]

Gold falls as positive data from the U.S.

 

Tuesday, March 20, 2012

 

Gold fell today as the positive data issued by the United States. In addition, profit taking in gold prices also weakened. Hope of a global policy easing has raised interest in gold investment. This year, gold prices rose 14 percent close to the range of $ 1,800 per ounce.

 

Spot gold fell 0.3 percent to 1656.31 dollars per ounce range, ending a three-session losing streak. U.S. gold fell 0.6 percent to 1656.60 dollars per ounce. today's gold price forecast to break through 1671 dollars per ounce.

 

Physically, the sellers of gold in India plans to close their shop the next two days, to extend their protest against the rise in gold import taxes which dimumkan government last Friday.

 

SPDR Gold Trust, the storage company's largest gold reserves in the world, said the gold reserves they are not corrected in the range of 1293.268 tonnes during the last five sessions yesterday, while gold prices had dropped sharply last week.

 

Silver investors banked on the photovoltaic industry to create interest in the metal gained in recent years. Spot silver dropped 1.7 percent to around 32.65 per dollar

[mynameisandhy]

Saudi Arabia Can Raise Oil Output 25%

 

Wednesday, March 21, 2012

 

Saudi Arabia can increase oil production by 25% immediately if necessary, according to Oil Minister Ali al-Naimi. Al-Naimi's comments seem to want to ease concerns over tight supplies of oil that has sustained rally lately. Financial sanctions imposed by Europe and the U.S. have managed to lose Iran's oil exports, and this could make the market concerned.

 

"I want to reiterate, there is no shortage of oil supply. OPEC oil pump is only required for the market, we have an additional capacity of 2.5 million barrels," said al-Naimi. "Saudi Arabia's oil production capacity reached 12.5 million barrels per day and now we have to pump 9.9 million barrels per day. Saudi Arabia could even increase capacity to 15 million barrels of new oil fields to use if necessary. "

 

While Nymex oil prices have not changed much in the New York session. Oil is now trading $ 106.38, not so far from yesterday's closing level of $ 106.34

[mynameisandhy]

Gold corrected after the release of Chinese PMI data

 

Thursday, March 22, 2012

 

Gold prices declined slightly today, floating in the range of 1650 dollars per ounce as signs of U.S. economic growth and shrinking of Chinese manufacturing.

 

Throughout this month, gold prices fell 2 percent after the Fed diminish expectations for an easing of policy at the last statement. Data released recently showed the U.S. economy recovers superpower.

 

However the some experts say that the global economic crisis is still looming and the euro zone crisis might spread again. U.S. economic recovery is not a guarantee, especially after the slow development of Chinese economy.

 

Global economic uncertainty make gold safe havennya successfully defended his title, although a few times as the decline in financial assets fell.

 

China's manufacturing activity shrank in March, a decline for five consecutive months. Orders also fell to its lowest point during the last four months. lack of data is likely to end the dollar's decline and boost sentiment for gold.

 

Spot gold declined slightly in the range of 1,649,69 dollars per ounce, down from its intraday range of 1656.69 dollars per ounce. U.S. gold flat in the range of 1649.70 dollars per ounce.

 

Sales of physical gold are also quiet today due to flagging interest in China's retail sales. This week gold was in the range between 1635 dollars to 1670 dollars per ounce.

 

Platinum was in the range of 1633.96 dollars per ounce. palladium in the range of 680.97 U.S. dollars. Both metals are suppressed weak predictor of economic growth and industrial activity. Platinum-gold in dollars per ounce ksiaran16.

[mynameisandhy]

Gold Recovers After Worries Trigger Action Selling

 

Friday, March 23, 2012

 

Gold prices moved up on Friday, after touching a low level within 2 months prior disesi related concerns triggered by weak global manufacturing data from China and Europe.

 

Spot gold moved up 0.1% to $ 1,646.89 per troy ounce, in line with the fall for 4 consecutive weeks with a fall of 0.4%.

 

U.S. gold contract rose 0.3% to $ 1.647.

 

Concerns about the global economic slowdown hit commodity stocks and after weak manufacturing activity data of China and Europe.

[mynameisandhy]

Consolidated Oil, Bearish Signals

 

Monday, March 26, 2012

 

Nymex oil would consolidate after Friday (23/​​03) hit a three-session high at $ 108.25. Daily chart shows the movement of the mix with the MACD indicator shows a bearish signal, but it shows the movement of neutral stochastic while the MA 5 day and 15 day moving sideways.

 

If the oil broke through the $ 108.25 level, the next target at $ 108.37 (high level Tuesday) and $ 109.03 (March 2 high level) and $ 110.55 (10-month highs on March 1). If oil continues to soar to $ 110.55 then open greater opportunity for prices to move up to the level of $ 114.83 (high level May 2, 2011). But otherwise if the oil penetrate the level below $ 105.16 then the pressure continues to a level of $ 104.50 (low level Tuesday), then $ 103.78-$ 103.74 (low levels of March 15), $ 102.95 (MA 55-day) and $ 100.80 (MA 100-day). Oil May contract fell 20 cents to $ 106.67/barrel on Globex.

[mynameisandhy]

Gold Moves Correction Rally Sharply After Yesterday

 

Tuesday, March 27, 2012

 

On electronic trading in Asia today gold price appears to decline (27/03). Precious metals prices weakened with the consolidation trend in trading yesterday after experiencing its biggest daily rally since late January.

 

Last night the gold price seems supported by the dollar fell against rivals. Today the dollar seems to have a stronger correction in gold prices were also affected. Despite this strong trend looks still may continue in the gold price.

 

Current spot price of gold seems to have decreased by 3.83 dollars (0.23%) and are at 1687.91 dollars per troy ounce. This spot gold price had increased to reach its highest level since March 13, in trading last night, that is the position of 1693.39 dollars per troy ounce.

[mynameisandhy]

Oil Related Issues Fall Sharply In Stock Release of U.S. Strategic Reserve

 

Wednesday, March 28, 2012

 

Oil finally fell for the first time in four days amid widespread rumors that the U.S. would release strategic stocks of crude oil reserves and increase its U.S. oil supply significantly.

 

French Industry Minister, Eric Besson said the U.S. has submitted a proposal to remove the oil strategic reserve stock of various countries in Europe to cope with rising oil prices is too excessive.

 

This proposal may be taken by the Obama administration related to the U.S. Democratic Party political step ahead of the election, as polls show Obama masyarat U.S. rate is very poor performance in dealing with rising oil prices.

 

IEA officials who had initiated the first release of reserve stocks of oil strategy after an interruption of oil exports from Libya also confirmed that the proposal is being considered. According to the French, the French government is still waiting for IEA oil inventory report before taking any decision.

 

The increase in supply in excess of supply would potentially limit further oil price increases, especially if there is no new news about Iran, then the investor should be buying interest will shrink in the coming days.

[mynameisandhy]

Continued weakening of the CPO

 

Thursday, March 29, 2012

 

Palm oil or palm oil prices are already too high to reduce the investor buying that CPO prices fell back ahead of the second day.

 

In the Malaysia Derivatives Exchange, CPO contract for June delivery fell 0.8% to RM3.445 atu $ 1,123 per metric ton before moving kelevel RM3.449.

 

On March 27, palm oil prices could end up dilevel RM3.497, the highest since March 10, 2011.

 

USDA will release the data tomorrow soybean stocks are a product of palm oil substitution. The report is expected to show a rise in U.S. soybean production up 9.8% over the same period last year to 1.371 billion bushels.

[mynameisandhy]

The dollar slid, the shiny gold

 

Friday, March 30, 2012

 

Gold rose on Friday's session, continued to push the performance to stop the losing streak in three days after euro zone finance ministers strengthened 'firewall' against the spread of sovereign debt crises.

 

June gold futures trading contract rose $ 8.80, or 0.5 percent, to $ 1,663.90 an ounce on the Comex division of the New York Mercantile Exchange. For the quarter, gold futures are on track rising 6.1 percent.

 

A weaker dollar also gave a boost to metals prices. The Dollar Index, which tracks the performance of the U.S. dollar against six major currencies, traded at 78.905 from 79.176 in late North American trading, the session Thursday. The dollar index is expected to end the quarter with a 1.7 percent decline.

 

The euro strengthened against the dollar after euro zone finance ministers agreed on Friday to increase the lending capacity of the area while rescue fund to 700 billion euros, equivalent to $ 934 billion from 500 billion euros.

 

Meanwhile, the Commerce Department said Friday that U.S. personal spending rose 0.8 percent in February, with U.S. consumers spending money at the fastest pace in seven months.

 

With U.S. equities rising, the metal closer to the industrial activity beyond gold. Silver sales contracts in May rose 39 cents, or 1.2 percent, to trade at $ 32.38 per ounce level. Copper futures contracts trading in May rose 3 cents to $ 3.83 per pound.

[mynameisandhy]

Expected to strengthen demand, rising oil

 

Monday, April 2, 2012

 

Oil continued to strengthen until the second day in New York as investors speculated that demand will strengthen the economy of China, a country with the world's largest crude oil consumption, showed gains.

 

Oil futures contract rose 0.5% after purchasing managers index rose kelevel highest in the past year in March. Oil prices rose to the highest kelevel quarterly on 30 March after President Barack Obama declared the world's oil supplies sufficient to continue sanctions against Iran.

 

Oil contract for May delivery rose 56 cents to $ 103.58 per barrel on NYME of $ 103.49. The prices have gained 4.2% during the first quarter of this year and fell 3.8% last month.

 

Brent oil contract in May rose 56 cents, or 0.5% to $ 123.44 per barrel in London. European benchmark contract versus New York was at $ 19.92 from $ 19.86 on March 30, the highest since October 24.

[mynameisandhy]

Gold to rise the third day

 

Tuesday, April 3, 2012

 

Gold predicted to rise the third day as economic data from the U.S. are better than expected. This makes the safe haven of dollars retain his title. Meanwhile, gold consumption in India continue to fall due to the country's jewelry business went on protest action.

 

Spot gold was in the range of 1679.63 per U.S. dollar, after rising 0.2 percent. Gold rose 1 percent in the last two days as the dollar fell 0.4 percent against six other currencies. The U.S. dollar fell against eyro today before the release of data that are expected to show U.S. factory orders rose most sharply in the last three months. Gold futures for June delivery declined slightly in the range of 1681.20 per U.S. dollar on the Comex division.

 

U.S. manufacturing rose more rapidly in March, signaling a recovery in the largest economy in the world. The increase was helped rally a number of Asian stocks. factory index rose to 53.4 in February, according to a data released yesterday.

 

Pengusahan jewelery in India yesterday to continue its protest action, entering the third week. They asked for the removal of taxes without jewelry brands, according to All India Gems & jewerly Trade Federation. Last year, India maintains the amount of gold consumption tahunannnya. But it seems this year that number will be surpassed by China, according to World Gold Council.

 

Silver rose 0.5 percent to 33.1257 dollars per ounce range. yesterday, silver rose to its highest range since March 14 to around 33.23 dollars per ounce.

 

Platinum rose the third day, gaining 1.1 percent today. The increase was made ​​of platinum touched its highest range of the past two months in the range of 1669 dollars per ounce. palladium rose 0.9 percent to 661.75 dollars per ounce range.

[mynameisandhy]

Gold Continues sluggish, U.S. Economy Concerns

 

Wednesday, April 4, 2012

 

The price of gold for this evening (4/4) observed decreased again. After the Fed states will not issue policies to provide economic stimulus, investors are again faced with a situation of anxiety to the robustness of the U.S. economy in the short term.

 

Current spot gold fell by 0.6% to 1635.83 dollars per troy ounce with the support level at 1620.86 dollars per troy ounce and resistant level at 1670.05 dollars per troy ounce.

 

The weakening of the movement of gold re-pressing of metal commodities such as platinum which declined 0.7% to 1630.5 dollars per troy ounce, palladium fell 0.9% to 648 dollars per troy ounce and silver fell 1.6% to 32.10 dollars per troy ounce.

[mynameisandhy]

Gold Up Thin, Thin Crawl Rebound

 

Thursday, April 5, 2012

 

Gold prices rose for tonight thin. Since this morning the price of gold rebounded slightly from the level of 1617 dollars per troy ounce. Gold price increases driven by rising demand ahead of the release of U.S. jobless claims data for the last week.

 

Spot gold rose by 0.2% to 1622.3 dollars per troy ounce with the support level at 1612.13 dollars per troy ounce and resistant level at 1629.20 dollars per troy ounce.

 

Gold rising commodity prices helped push other metals such as platinum which rose 0.1% to 1594.19 dollars per troy ounce and palladium climbed 0.8% to 634.7 dollars per troy ounce.

[mynameisandhy]

Gold Rises, Spain Save the predictions EU

 

Friday, April 6, 2012

 

The price of gold to trade this afternoon (6/4) recorded an increase. The market seems quite optimistic about the existence of an economic bailout policy of Spain by the European Union which last month had promised would be realized.

 

Spot gold rose by 0.2% to 1633.85 dollars per troy ounce with the support level at 1611.85 dollars per troy ounce and resistant level of 1643.4 dollars per troy ounce.

 

Strengthening of gold prices has affected positively the price of metal commodities such as silver rose 0.2% to 31.75 dollars per troy ounce and palladium climbed 0.7% to 641.7 dollars per troy ounce.

[mynameisandhy]

Crude Oil Weakens, Iran "softened"

 

Monday, April 9, 2012

 

Crude oil prices to trade this afternoon (9/4) recorded a decline. The weakening of the movement of oil caused by the presence of a potential Iranian nuclear project policy revisions which tend to soften after pressured by the threat of economic embargo and delivery of crude oil by the United States and the European Union.

 

This is in line with the meeting between the Iranian side with the United Nations Security Council on April 14 in Istanbul, Turkey to discuss the cessation of Iran's nuclear project and the opportunities of economic embargo on Iran if the project is still running.

 

Crude oil futures for May fell by 1.44 dollars to 101.87 dollars per barrel. Meanwhile, Brent crude fell 96 cents to 122.47 dollars per barrel.

[mynameisandhy]

Gold shines, rocketed to the highest point

 

Tuesday, April 10, 2012

 

Gold jumped to its highest point during the last week in the range of 1650 dollars per ounce today. The increase was a rise in gold for four consecutive sessions. The increase was supported by expectations of further policy easing from the Fed and the demand for gold is rampant in Asia.

 

Today is the day where all the market is active again after the Easter holiday weekend. Data on the U.S. job market last Friday disappointed the market and create hope for the printing of money at the Fed rose.

 

While buying physical gold jewelry rose because penguasaha India has again turned on after the strike for three weeks ago. they stopped their protest after the Minister of Finance promised to send the proposal to the government regarding the abolition of tax free jewelery brand.

 

Spot gold rose 0.7 percent to its highest point during the last week in the range of 1652.55 dollars per ounce. weeks ago, gold had dropped to its lowest point during the last three months in the range of 1610 dollars per ounce. U.S. gold gained 0.6 percent to around 1654 dollars per ounce. resistance level of visible gold in 1648 dollars per ounce level.

 

Investors will keep waiting for some data that will dikelurkan the Fed throughout this week to see whether the Fed will do the relaxation of policy.

[mynameisandhy]

Gold futures soar

 

Wednesday, April 11, 2012

 

Gold rose to its highest range in the last month in New York as worsening debt crisis in Europe. European moves that looked limp in resolving the crisis spreading to worry again.

 

Spanish and Italian bonds rose. European markets continued the decline. Standard & Poor's GSCI Spot Index of 24 raw materials fell 1.5 percent commentary.

 

Gold futures contract for June delivery rose 1 cent to around 1,600,70 dollars per ounce on the Comex division of the New York Mercantile Exchange. It was the best rise since March 30 last. on 3 April, gold futures touched had the best range of 1664.80 dollars.

 

The price of gold shining again after the sale of gold in India returned to normal. Jewelry artisans in India finally put an end to their protest, which lasted for 21 days.

 

Silver futures for May delivery rose 0.5 percent to around 31.678 dollars per ounce on the Comex, the increase is an increase of three consecutive sessions.

 

Platinum futures contract for July delivery fell 1.5 percent to 1593.70 dollars per ounce range. Palladium futures for June delivery turn ksiaran 1.1 percent, to 636.85 dollars per ounce on the Nymex.

[mynameisandhy]

Gold futures slip

 

Thursday, April 12, 2012

 

Gold futures fell today, while other metal prices climb as the weakening dollar.

 

Gold futures contract for June delivery fell 90 cents, or 0.1 percent, to 1659.40 dollar range per ounce on the Comex division New York Mercantile Exchange. Yet the gold price rose 1.8 percent during the week.

 

In electronic trading, silver futures contract for May delivery rose 3 cents, or 0.1 percent to 31.55 dollars per ounce range. Copper futures for May delivery rose 2 cents, or 0.5 percent to 3.66 dollars per pound range.

 

Platinum futures contract for July delivery rose 2.40 dollars to 1,586,70 dollars per ounce. Palladium futures for June delivery rose 1.90 dollars or 0.3 percent to 638.50 dollars per ounce.

 

The dollar index, which is the ratio of the price of the dollar against six other currencies, are in the range of 79.641. Down from the range achieves 79.791 yesterday.

 

The weak dollar makes a purchase price of a commodity at a price of the dollar strengthened. Buyers with other currencies can get the commodity at a price that is cheaper.

[mynameisandhy]

Oil fell after three days rose

 

Friday, April 13, 2012

 

Oil fell for the first time in three days, remove the weekly gain, after the Chinese economy grew at the slowest pace in 11 quarters and Saudi Arabia's oil minister said the kingdom is determined to see lower oil prices.

 

Oil futures fell by 0.8 per cent today after government data show China's gross domestic product grew 8.1 percent from the previous year in the first quarter, after rising 8.9 percent in the last three months of 2011.

 

Industrial production rose at a faster speed in March, while retail sales increased growth. Saudi Arabia, the world's largest exporter of crude oil, consider the price too high and work to reduce the increase, Minister Ali al-Naimi said today.

 

Crude oil sales contracts in May fell by 78 cents to as low as $ 102.86 per barrel in electronic trading on the New York Mercantile Exchange and in the level of $ 103.16 at 10:50 am London time. The contract yesterday rose 0.9 percent to as low as $ 103.64, its highest closing since 3 April. Oil prices fell 0.1 percent for the week.

 

Brent oil trading contracts May shrank 31 cents, or 0.3 percent to as low as $ 121.40 a barrel on the ICE Futures Exchange europe. Brent prices fell 1.6 percent observed this week, heading for the fourth weekly decline in five weeks.

 

The European benchmark contract premium to West Texas Intermediate oil traded in New York for $ 18.24, compared with $ 18.07 in the last session. Brent front month futures contract expires today. More active June contract traded down 23 cents at $ 121.29 level.