All About Commodity

[mynameisandhy]

Gold again surged, the dollar depressed

 

Monday, May 21, 2012

 

Gold prices surged today (21/05) in Asia are starting to look excited. But gold prices are still limited by a report stating that the Fed will not do the relaxation of policy.

 

On the Comex division of the New York Mercantile Exchange, gold futures for June delivery rose 0.16 percent to 1594.45 dollars per ounce. throughout the session, the lowest was in the range of 1590.25 dollars per ounce and the highest in the range of 1597.35 dollars per ounce.

 

Last week, the Fed released the minutes of the meeting last policy meeting where the Fed decided to only provide stimulus funding if the U.S. economic growth shows signs of weakening.

 

The relaxation of the policy discourse makes the price of gold rose and the dollar weakened. Comments from the Fed is making gold surged again after a weak the last few weeks in Asia.

 

Still on the Comex division, silver futures for July delivery fell 0.45 percent to 28.587 dollars per ounce. Copper futures for July delivery rose 1.21 percent to 3.485 dollars per pound.

[mynameisandhy]

Investors do not expect much from the EU Summit, gold slips again

 

Tuesday, May 22, 2012

 

The price of gold fell today after briefly topped 1600 dollars per ounce. investors are still looking forward to the ongoing European Union leaders meeting tomorrow, where EU leaders will try to reach agreement in the response to the crisis strategy.

 

Gold tried to break through the resistance level in the last two days in 1600 dollars per ounce level, but failed. Gold prices fell again as investors who do not put much hope in meeting the EU and Greece are still hesitated.

 

At the EU Summit tomorrow, the new French president, Francois Hollande is expected to approve a similar strategy in handling a crisis, even though Germany is clearly rejected.

 

Spot gold fell 0.2 percent to 1589.93 dollars per ounce. U.S. gold flat in the range of 1589.80 dollars per ounce.

 

Purchase of physical emaas also looked lethargic after gold had dropped to 1530 dollars per ounce last week. gold bars in Hong Kong is stable since last week in the range of 1.20 to 1.70 dollars per ounce. while in Singapore the price of gold would fall to 1 to 1.20 dollars.

[mynameisandhy]

Gold fell, making Greece will confuse the market

 

Wednesday, May 23, 2012

 

Gold extended their slide from the last session during the European morning trading, down to its lowest level in four days as investors collect U.S. dollars, a relatively safer assets amid growing alarm over the possibility of Greece out of the euro zone.

 

In trading on the Comex division of the New York Mercantile Exchange, gold futures trading contracts in June traded at $ 1,559.55 per ounce in early European trading, down 1.1 percent. Previously, gold was down 1.35 percent traded at $ 1,555.15 per ounce, its lowest level since May 17.

 

Market sentiment was confused confused by the statement of former Prime Minister of Greece Lucas Papademos said that Greece seems to have no choice but to survive on even less painful austerity program or to get out of the euro zone. However, Papademos also stated that the preparatory discharge of Greece is also being considered.

 

Meanwhile, investors monitor the meeting of European leaders today, amid concerns over the difference between the new French President Francois Hollande, who favored measures that are designed to support the growth with a German pro-savings.

 

Hollande president is expected to propose the introduction of the euro bond together at the top, but Germany has repeatedly rejected the idea, saying they would reduce the pressure on indebted countries to get their finances in order.

 

On the other trading on the Comex, silver sales contracts rose 1.3 percent in July traded at $ 27.81 per ounce, while July copper contract fell 1.15 percent trades traded at $ 3.447 per pound.

[mynameisandhy]

Gold Rebound Along With Oil, Global Stocks

 

Thursday, May 24, 2012

 

Gold futures rebounded from losses the previous day while other commodities also rose and the dollar flat. GCM2 futures for June delivery rose +1.16% to almost $ 20 to $ 1,567.40.

 

The metal closed with a loss of more than $ 28 per ounce on Wednesday as investors sought the perceived safety of dollar anxiety about a possible exit from the Greek-euro zone.

 

EU informal summit Wednesday voiced support for the inclusion of Greece even though no action was announced to combat the crisis the euro zone. European shares and oil rebounded from a sharp fall the previous day.

 

Silver for July SIN2 +1.91% up 50 cents, or 1.8%, to $ 28.02 per ounce. July copper HGN2 +1.43% gain 4 cents, or 1.3% to $ 3.44 per pound, while July platinum rose PLN2 +0.82% $ 12.40, or 0.8%, to $ 1,425.90 per ounce. PAM2 +0.99% in June palladium rose $ 6.15 or 1% to $ 597.25 per ounce.

[mynameisandhy]

Gold does not shine in Asia

 

Friday, May 25, 2012

 

Gold futures trading in Friday's session is less passionate in Asia and is still trading not far from the bottom level of the session.

 

In trading on the Comex division of the New York Mercantile Exchange, gold futures contract was trading up 0.29 percent in June traded at $ 1,552.95 per ounce level. Earlier gold traded at under $ 1,550.95 per ounce sessions. golden opportunity to go to the support level at $ 1,533.25 and $ 1,598.95 in the level of resistance.

 

The U.S. dollar index, which tracks the performance of the greenback against six major currencies, rose 0.04 per cent, at $ 82.47.

 

On the other trading on the Comex, Silver silver July contract fell 0.75 percent trades traded at $ 27.947 per ounce while July copper contract fell 0.43 percent trades diperdgaangkan at the level of $ 3.421 per pound.

[mynameisandhy]

Gold futures helped letup anxiety Europe

 

Monday, May 28, 2012

 

Gold futures rose today as the issue of discharge of Greece from the European Union began to subside. This indicates that the popularity of the party in favor of bailouts rises, the second phase of general elections to be held next month.

 

Gold futures for June delivery rose 0.6 percent to 1557.70 dollars per ounce on the Comex division of the New York Mercantile, after rising in two consecutive sessions. In the U.S. market holiday today, gold prices rose on the New York session.

 

Meanwhile, the dollar index fell today after briefly touching a level never reached since 2010 last Friday. The weakened dollar is a positive sign for gold and other dollar denominated commodities as gold prices will be cheaper for investors to currencies other than dollars.

 

Silver futures for July delivery rose 0.8 percent, or 23 U.S. cents to 28.62 dollars per ounce. Platinum futures for July delivery rose 13.40 dollars to 1439.90 dollars per ounce. Palladium futures for June delivery rose 5.35 dollars to 595.35 dollars per ounce per ounce.

[mynameisandhy]

Antam's gold record buy back price increases

 

Tuesday, May 29, 2012

 

Gold prices rose PT Antam Tbk to return the purchase price up to Rp 1,000 per gram Rp475.000.

 

From the official website, logammulia.com, 1 gram gold price rose to Rp535.000 reported, 2 grams up to Rp1.030.000, 2.5 g up to Rp1.277.500, 3gr up to Rp1.525.000, 4gr up to Rp2.008.000, 5gr up to Rp2.525.500, 10gr up to Rp5.010.000, 25gr up to Rp12.450.000, 50gr up to Rp24.835.000, up to Rp49.620.000 100gr, and 250gr up to Rp123.950.000.

 

Global gold prices fell $ 1.74 to $ 1,571.04 per troy ounce, silver dropped 5 cents to $ 28.35 per troy ounce, platinum dropped to $ 1,428.49 3:56, and palladium fell $ 1.85 to $ 599.97.

 

While the Comex gold for June delivery rose $ 2 to a record $ 1,570.90 per troy ounce and silver Comex for delivery July 11 fell 11 cents to $ 28.28 per troy ounce.

[mynameisandhy]

Crude Oil Weakens, Lowest Since May 24

 

Wednesday, May 30, 2012

 

Crude oil prices to trade this evening (30/5) still showed weakness. Oil back depressed all day today after obtaining a negative sentiment associated with the speculation of European credit rating reduction of Bb-be Spanish B.

 

While the other negative sentiment coming from the U.S. where U.S. crude inventories for last week predicted an increase of 800 thousand barrels to 383.3 million barrels. Certainty about the data will be released tomorrow.

 

Crude oil futures declined by 10 cents to 90.76 dollars per barrel. These levels are the lowest level since May 24 last. Brent crude fell 2.14 dollars to 104.54 dollars per barrel.

[mynameisandhy]

Gold Carried by Actions Sell Commodity

 

Thursday, May 31, 2012

 

Gold again swept by the current commodity selloff in global markets today (31/05).

 

Exposed to stock market and commodity sell-off and reverse the gains that have been acquired a day earlier. Gold futures for August delivery fell $ 1.90, or 0.1% to as low as $ 1561.50 per ounce on the COMEX trading session throughout Asia. If the calculated throughout the month of May, gold has declined to 6.2%.

 

A day earlier, gold jumped 1% in the U.S. session and find technical support at $ 1530 per ounce. But the escalation of the crisis in Europe to make a sell spread, both in stocks and commodities markets during the Asian session running. The dollar index fell slightly from 83 053 to 83 026. However, on a monthly basis, the dollar index has surged 5.3% since early May and is always hurt commodity prices in the market.

[mynameisandhy]

Gold soared after the U.S. nonfarm payrolls data

 

Friday, June 1, 2012

 

U.S. nonfarm payrolls data only experienced the smallest increase since September 2010 to +69.000, far off the mark compared to analyst estimates for a gain of 150,000, while the U.S. unemployment rate rose to 8.2% over the previous 8.1%, in addition to the data that nonfarm payrolls was revised in March & April lower.

 

This report reflects the U.S. growth rate starts to slow down and come back at a pace that is stagnant and open chance Quantitative Easing program in June of the third stage.

 

The dollar dropped sharply vs. the Japanese Yen post this data, while the yield on U.S. 10-year tenor slipped again to new lows below 1.50%. German DAX stock index fell -3.8%, U.S. crude oil WTI Crude dropped -3.98% to as low as $ 82.95 per barrel.

 

While the Gold turned higher on speculation of this QE3, observed so far Gold was trading up 1.23% to as low as $ 1,579.27, after reaching an intraday lows at $ 1,545.69 and a high level daily at $ 1,583.40 per troy ounce.

[mynameisandhy]

Technical corrections Crush Thin Gold in Asia Session

 

Monday, June 4, 2012

 

On electronic trading in Asia today looks a decline in the price of gold (03/06). The metal is experiencing a technical correction after the end of last week posted the biggest daily rise in more than three years. The U.S. NFP data that are surprisingly weak to give in-depth market concerns about the possible return of the second phase of the global recession.

 

At last Friday's trading session at the beginning of the gold price seems to have decreased. Massive price rebound by 60 dollars per troy ounce daily of the lowest position in line with the rise of gold buying. The bad sector data in the U.S. labor market lead to a safe haven asset hunt.

 

Today the price of spot gold seems to be in the position of 1619.35 dollars per troy ounce. Price decreased by 2.95 dollars from the position of the close of trading last week.

 

In one week the gold price increased by 3.5%. Spot gold prices posted a sharp rise and closed at 1622.30 dollars per troy ounce late last week. Prices of these commodities has increased by 62.20 dollars per troy ounce. Prices rose to their highest since May 8, at the level of 1630.05 dollars per troy ounce.

 

After the price ambles up to the 1520 level of dollars per troy ounce, gold prices move rebound. The price of gold is currently in a sideways trend, consolidating after the price had reached oversold conditions. The price of gold will try to survive in the level of 1600.

[mynameisandhy]

Narrow moves, Gold Bullish Outlook

 

Tuesday, June 05, 2012

 

Gold moves approximately $ 4.00 in early trading on Asian markets and the opportunity to continue to strengthen in the coming days, according to technical analysis. Barclays analysts noted the short-term targets of gold still in the range of 1.660 U.S. dollars / ounce and $ 1.690 / ounce with the support level at $ 1.575 / $ 1.525 last ounce / oz.

 

"Technicians can indicate strong gold in the coming days to the 200-day MA," said technical analyst at Dow Jones, Jerry Tan. For short-term technical outlook for gold is "positive after Friday through the resistance level at high level in the $ 1,598.79 May 21." The price of gold at $ 1,622.00 / ounce, up $ 4 from its closing level.

[mynameisandhy]

Oil Rises, Approach $ 86

 

Wednesday, June 6, 2012

 

Crude oil prices to trade this evening (6/6) registered an increase. Oil driven up due to speculation about the data will fall in U.S. crude inventories last week, which is projected to decline by 1.8 million barrels.

 

In addition, the strengthening of oil also caused by the existence of a policy ekspekrasi to rescue the Spanish economy in the near future where the European Central Bank has set aside 40 billion dollars to be used as a stimulus package.

 

Crude oil futures rose by 1.38 dollars to 85.67 dollars per barrel. Meanwhile, Brent crude rose 1.77 dollars to 100.61 dollars per barrel.

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LONDON — Oil prices rose sharply on Wednesday, rebounding from recent lows as traders took their cue from soaring global stock markets and continued nuclear concerns over key crude producer Iran.

 

In late afternoon London deals, Brent North Sea crude for July rallied $2.01 to $100.85 per barrel.

 

New York's main contract, West Texas Intermediate crude for delivery in July gained $1.60 to $85.89.

 

"A slight brightening of sentiment on the financial markets and a weaker US dollar are putting wind in the sails of oil," said Commerzbank analyst Carsten Fritsch.

 

European and US stock markets shot higher Wednesday, with sentiment helped by the European Central Bank's decision to keep cash flowing to beleaguered eurozone banks even if it left interest rates on hold.

 

ECB chief Mario Draghi downplayed the eurozone debt crisis after the central bank held rates unchanged at 1.0 percent, saying it was unlike the situation after the 2008 Lehman Brothers bankruptcy sent global markets into a tailspin.

 

"To a great extent we know exactly what (the) problems are now," the ECB president said, adding: "I don't think the situation is at all as bad as it was."

 

Prices were also buoyed after G7 European leaders vowed Tuesday to respond "speedily" to the debt crisis.

 

Traders meanwhile shrugged off news of a smaller-than-expected decline in stockpiles in the United States, the world's biggest oil consuming nation.

 

US American crude inventories fell by just 100,000 barrels in the week ending June 1, far less than market expectations for a drop of 400,000 barrels, according to analysts polled by Dow Jones Newswires.

 

Elsewhere, the European Union called Wednesday on Iran to sign an accord with the International Atomic Energy Agency that would enable the UN watchdog to verify the nature of its controversial nuclear activities.

 

IAEA chief Yukiya Amano said after visiting Iran in May that Tehran would soon sign a deal to allow greater access to sites, documents and people involved in its nuclear programme -- but no such agreement has yet emerged.

 

"We call on Iran to conclude the agreement without further delay," the EU told the IAEA board of governors meeting in Vienna this week.

 

"The EU has once again to stress the importance of granting early access to all sites, persons and information as and when requested by the agency," the statement said, making particular reference to a military base at Parchin.

 

The IAEA, which is holding a new round of talks with Iran in Vienna on Friday, has been seeking access to the Parchin base near Tehran, where it believes suspicious explosives testing has been carried out.

 

Key crude producer Iran has denied the IAEA demands, insisting the site is of no significance to its nuclear programme.

 

Earlier this week, the oil market hit multi-month lows as dismal data sparked fears over the health of the global economy and future energy demand.

 

In Monday trade, New York crude hit $81.21, a level last seen on October 7. Brent oil meanwhile tumbled to $95.63, reaching its lowest level since January 2011.

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Goldman Predicts

 

In October, Bank of America forecast $2,000 by early 2012. Goldman predicted in December that gold would reach $1,840 by early June. Barclays and Morgan Stanley said in January that it would average $1,850 and $1,810 this quarter. The metal actually averaged $1,619 since the end of March. Goldman now expects prices to reach $1,940 in 12 months. Barclays predicts an average of $1,790 in the fourth quarter, and Morgan Stanley forecasts $2,000 in the final three months.

 

Bullion is heading for a 12th straight annual gain, after temporarily giving up its gains for the year last month. The metal rose almost sixfold since the end of 2000, beating the 24 percent advance in the S&P 500, with dividends reinvested, and the 90 percent return on Treasuries. The Dollar Index (DXY) fell 25 percent.

 

While gold’s four-month drop from February is the longest since the start of the bull market, it’s not the biggest. Futures fell 21 percent in a month in 2006 and 30 percent over eight months in 2008, before rallying to end higher for the year. The 2,375.8 metric tons held in ETPs exceeds official reserves in all but four nations tracked by the International Monetary Fund, and the amount is within 1.5 percent of the record 2,410.2 tons reached in March.

‘Last Resort’

 

“Gold remains the currency of last resort,” said Jeff Currie, the New York-based head of commodity research at Goldman, which predicts $1,840 by the end of the year. “The case for higher gold prices remains intact.”

 

Greek voters return to the polls on June 17 after elections on May 6 failed to produce a government. Syriza, a party proposing to cancel the terms of an international bailout and restore pensions and wages, was propelled into second place, increasing prospects that the 17-nation euro would fracture. Those concerns were partially allayed last week after Irish voters backed the EU’s fiscal treaty.

 

Central banks, the world’s biggest owners of gold, have added to their reserves for 14 consecutive months through March, the longest streak since 1964, IMF data show. Investor demand for gold coins is accelerating, with sales of American Eagles more than doubling to 53,000 ounces last month, according to figures on the U.S. Mint’s website. The 10 most widely held options confer the right to buy bullion at prices from $1,800 to $2,500 between July and March 2013, Comex data show.

[mynameisandhy]

Investor attention focused on the Fed, gold futures fell

 

Thursday, June 7, 2012

 

Gold futures fell today as investors who directs perhatiannnya on the testimony of Fed chairman, Ben Bernanke today at Congress. Investors expect the Fed will add stimulus funds to help the U.S. economic recovery.

 

Gold futures for August delivery fell 12.10 dollars or 0.7 percent, to 1622.10 dollars per ounce on the Comex division of the New York Mercantile Exchange in Asia. a possible flow of funds from the ECB and the Fed made ​​of gold rose 1.1 percent yesterday.

 

Hope of pricking stimulus funds after the vice chairman of the Federal Reserve, Janet Yellen, who in his speech indicated that it is open to the loosening of the policy if the U.S. economic situation deteriorates.

 

Silver futures for July delivery fell 29 cents, or 1 percent to 29.90 dollars per ounce. Copper futures for July delivery fell 1 cent, or 0.3 percent to 3.37 dollars per pound. Platinum futures for July delivery fell 0.5 percent to 1462.20 dollars per ounce. while palladium futures for September delivery fell 0.6 percent to 628.90 dollars per ounce.

[mynameisandhy]

There was no stimulus signal, gold fell

 

Friday, June 8, 2012

 

Gold luster dims again. Precious metals prices dropped and traded at U.S. $ 1,500. That happened after Federal Reserve Governor Ben S. Bernanke did not provide the sign will disburse monetary stimulus.

Whereas before, the price of gold since the weekend continued to rally after the release of U.S. unemployment data increase. Looking at the data market participants speculate that the Fed will soon disburse monetary stimulus that would have an impact on gold prices. But on Thursday (7/6), Bernanke said the central bank has the option of easing up, but did not provide specific clarity.

The statement was allegedly the cause of decline in gold prices. "Bernanke is gold bullish trend stopped when he did not give an indication of the stimulus program will be conducted in the future," said Jim Pogoda, a former trader Mitsubishi International Corp., as quoted by Bloomberg yesterday (8/6).

The price of gold for August delivery on the Comex in New York, today (8/6) at 16.64 pm. fell 0.98% to U.S. $ 1,572.40 per Troi ounce from U.S. $ 1,588 on the previous day. That means gold prices this week have dropped 3.4%. This is a weakening of the lowest weekly since May 11.

[mynameisandhy]

Oil recorded the largest increase in five months

 

Monday, June 11, 2012

 

oil to its highest level in more than five months in New York on speculation rising fuel demand after Spain asked the European bailout to save the banking and Chinese crude imports rose to a record.

 

Oil futures declined slightly after rising 3 percent, the biggest since January 3 last. Spain will try to find? 100 billion, equivalent to $ 126 billion of euro countries, Economy Minister Luis de Guindos told reporters in Madrid at the weekend.

 

China, the second largest consumer of crude oil, imported commodities increased in May due to low prices, according to customs data. OPEC likely to maintain its production quota to keep prices at current levels when it will meet this week, Bloomberg News survey showed.

 

Crude oil for July delivery rose by $ 2.54 to $ 86.64 per barrel in electronic trading on the New York Mercantile Exchange and was at the level of $ 84.92 at 12:33 pm London time. In the last week, oil recorded an increase of 1.1 percent to as low as $ 84.10, the first weekly gain in six weeks. Oil prices are still down 14 percent this year.

 

Meanwhile, Brent crude oil for July delivery rose 76 cents, or 0.8 percent, to $ 100.23 per barrel on the ICE Futures Europe Exchange. Premium to the European benchmark oil West Texas Intermediate is $ 15.32 per barrel.

[mynameisandhy]

Gold tumbled back

 

Tuesday, June 12, 2012

 

Gold fell today (12/06) after the Spanish banking sector optimism will fade due to doubts about the effectiveness of the bailout given the European Union. European crisis back into Greece unrest ahead of elections next June 17.

Gold rally yesterday as investors who immediately stopped the bailout worry that the EU failed to medium spread of the European crisis. Investors are still awaiting the outcome of elections and the Greek Group of 20 meeting next week.

Spot gold fell 0.1 percent to 1592.79 dollars per ounce. Gold futures for August delivery fell 0.2 percent to 1594 dollars per ounce.

Investors expect the Fed to raise more funds flow stimulus for fear of abuse at a fast rate of inflation. The latest data showed the U.S. economic recovery is more sluggish. However, the chairman of the Fed still has not clarified what kind of policy will be applied.

Gold reserves in the SPDR Gold Trust rose to 70.06 million ounces on 11 June, its highest level since early May.

[mynameisandhy]

Gold is still quite strong, the focus is still to Spain and Greece

 

Wednesday, June 13, 2012

 

Gold is traded in a tight range during the European morning trading session Wednesday, when investors are still waiting on mounting concerns over the fiscal condition of the Spanish and Greek elections at the weekend.

 

Investors monitor the pad Italian government bond auction today, amid fears that the country will be the next euro zone countries that require a bailout.

 

In trading on the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at the level observed $ 1,604.65 per ounce to this story down, down to 0.05%.

 

Traders are still reluctant to open new positions amid concerns about rising borrowing costs in Spain and Italy, as well as nervousness ahead of weekend elections in Greece, which could determine the future direction of the country in the eurozone.

 

Spanish 10-year bond yield rose to 6.86% on Tuesday, the highest since the euro. Italian bond yields rose to the same deadline of 6.22%, the highest since January.

 

On the other trading on the Comex, silver for July delivery dropped 0.15% traded at $ 28.90 per ounce, while copper for July delivery rose 0.6% traded at $ 3.356 per pound.

[mynameisandhy]

Crude palm oil prices tumbled to their lowest level 7 months

 

Thursday, June 14, 2012

 

KUALA LUMPUR. Palm oil prices alias crude palm oil (CPO) tumbled to their lowest level last seven months.

 

CPO contract for August delivery on the Malaysia Derivatives Exchange was terbabat 1.8% to as low as RM 2896 or the equivalent of U.S. $ 910 per metric ton. That's the lowest level since October 25 last. Furthermore, the same contract to end morning trading session at RM 2898 per metric ton.

 

Vegetable oil prices dropped, because the market speculating, soybean yields in the United States will soar thanks to the support of the rainy season. Excess soybean supply will cause prices to fall. Well, correction soybean prices could go drag palm oil prices, because it is a substitution product.

 

Earlier, sentiment in commodity markets has also been sluggish, as investors worried about the crisis in Europe will be getting worse. This happens, because Moody's cut Spain's debt rating three levels to Baa3 from A3. Economic slowdown is feared menyurukan CPO demand.

 

Sinnasamy Chandran, head trader at LT International (M) Sdn. assess, jebloknya palm oil prices today, mainly because of expectations that rain will occur in the field planting soybeans in the U.S.. "Meanwhile, Europe's economic crisis and anticipated Greek elections so the main reason crude palm oil prices collapse this past week," he described on Thursday (14/6).

[mynameisandhy]

Oil rose on hopes of intervention

 

Friday, June 15, 2012

 

Oil futures rose Friday, boosted hopes of a global central bank is ready to provide monetary stimulus after the election to be held in Greece this weekend.

 

Crude oil for July delivery rose 73 cents, 0.9%, to $ 84.65 per barrel in electronic trading on the New York Mercantile Exchange. On Thursday, crude oil rose 1.6% in the New York Mercantile Exchange.

 

The move follows reports that the U.S. Federal Reserve and central banks from the Group of 20 nations ready to provide stimulus, amid mounting fears that Greece would leave the euro zone after the election results on Sunday this week.

 

The fall in the dollar also strengthening commodity, the dollar index, which tracks the dollar against six major currencies, fell 0.1%.

 

Increased global liquidity may lift investor sentiment, but short-term economic prospects of Greece and the euro zone is still bleak, according to Tim Evans, energy analyst at Citibank.

 

Just possibly, the potential increase in oil occurred from strong seasonal demand, supported by a stable level of production from the Organization of Petroleum Exporting Countries. Thursday, OPEC production quotas are still pertahnkan, citing concerns about global growth.

[mynameisandhy]

Greek elections support oil prices

 

Monday, June 18, 2012

 

Oil prices rose sharply again this week after leading the party's pro Greek bailout vote that the European crisis eased somewhat.

 

Crude oil futures rose 1.9% in New York After New Democracy party won a majority and the supply of seats in parliament, according to official estimates. This reduces the possibility of Greece out of the euro zone. Meanwhile in Saudi Arabia, the death of Crown Prince bin Abdulaziz Al Saud Naye raises the issue of succession for the second time in less than last year.

 

Crude contract for July delivery rose $ 1.57 to $ 85.60 per barrel on the NYME, the highest since June 11 midday trading. During the year the oil price naik1 4%.

 

August Brent contract rose 96 cents, or 1% to $ 98.57 per barrel in London. European reference Konrak versus $ 13.62 per barrel.

[mynameisandhy]

Worries European Crisis, Weakens Oil Continues

 

Tuesday, June 19, 2012

 

Move crude oil contract fell in electronic trading Tuesday, while the fall of Asia and the U.S. stock market occurred, combined with growing concern that rising bond yields may force Spain to seek state aid, weigh investor sentiment.

 

Crude contract for July delivery fell 33 cents, or 0.4%, to $ 82.94 per barrel, having closed down 76 cents yesterday in the U.S. session.

 

Kejaruhan happened last night when the Spanish bond yield for a period of 10 years rose above 7%, raising concerns that the high rate of interest on the loan will close access to the government to enter into financial markets. Yield for 10-year Italian bonds also rose to above 6%, helped close the gap following the positive results of Greece before the election.

[mynameisandhy]

Thin Weakens Oil, Consolidated moment

 

Wednesday, June 20, 2012

 

Crude oil prices to trade this afternoon (20/6) recorded a decline after it was increased slightly due to the positive sentiment of the economic stimulus plan by the U.S. Fed to the banking sector in the near future.

 

The weakening of the current movement of oil caused by the slump in Europe ZEW economic sentiment data for the month that reportedly dropped to - 20.1 points, or slip away from the prediction that says that the data would only be -5.7.

 

Crude oil futures declined by 2 cents to 84.05 dollars per barrel and Brent crude fell 26 cents to 95.5 dollars per barrel.