All About Commodity

[mynameisandhy]

Oil Prices Steady Ahead of U.S. Labor Data

 

Tuesday, October 2, 2012

 

Oil futures contracts barely showed significant price movements in early Asian trading. Nymex oil prices yesterday (01/10) had moved up after the release of positive U.S. manufacturing data, while Brent oil closed down due to signal economic weakness Asia and Europe.

 

Market attention shifted to the data this week's U.S. unemployment and the central bank's announcement to clarify the growth outlook. "Supply and demand factors will influence the price," according to ANZ. Minyal U.S. inventories predicted an increase of approximately 1.7 million barrels last week, according to Dow Jones survey, while the predicted fuel fell 400.000 barrel. November Nymex crude oil futures contract fell 3 cents to $ 92.45/barrel. Brent crude rose 6 cents to $ 112.25/barrel.

[mynameisandhy]

Transaction Minim, Base Metals Prices Down

 

Wednesday, October 3, 2012

 

Most of the observed base metal prices fell on the London Metal Exchange amid lack of trading during a holiday in China. The contract price of copper for three-month high at $ 8,291.50 per metric ton, down 0.4% from its closing level. Tin has so far recorded the biggest price drop fell 1.4% to 21.975 U.S. dollars / ton.

 

Singapore-based trader said trading volumes are currently low and declining investor interest. This condition is expected to continue until the end of the feed. There was only a slight increase demand from the China market players throughout the holiday season, he added. The main risk from movements in base metals this week is the release of U.S. jobs data on Friday (05/10). Data predicted lower than expected so it could trigger a sell-off. Conversely, if the data in accordance with the expectation it will encourage risk appetite on the LME.

[mynameisandhy]

Geopolitics Back Supporting Oil

 

Thursday, October 4, 2012

 

Crude oil prices rebounded nearly 1% in trading Thursday as Syrian unrest increased the risk of spreading to the broader region. Nevertheless, the overall factor is considered still not able to offset worries over weak demand outlook.

 

"Factors affecting the movement of oil geopolitics back, but these days the increase was much smaller when compared to the price fall on Wednesday," said Saxo Bank's head of commodity strategy, Ole Hansen. "Throughout this week, the oil price movement tends to be negative."

 

Currently, crude oil for delivery in November traded at around $ 88.80 per barrel, or about 0.75% higher than the closing price on Wednesday.

[mynameisandhy]

Oil fell to Under $90

 

Friday, October 5, 2012

 

Oil prices fell on Friday and headed for a weekly decline as the fragility of the global economy and uncertainty about the European debt crisis beat some good support from the U.S. labor report. U.S. jobs data adds a nice amount of private sector and a manufacturing report released this week, but not enough to cover the gloomy manufacturing and service sectors in Europe and China.

 

"I do not believe the labor data, and many oil traders as well, and there is a feeling that if the price is too high SPR (Strategic Petroleum Reserve) will be disbursed before the election," said Richard Ilczyszyn, chief market strategist and founder iitrader.com in Chicago. Ilczyszyn adding that the oil market has sufficient supply and prices of oil refined products has been lifted by a problem in the process of refining and supply.

[mynameisandhy]

Oil Back Down As European Finance Ministers Meeting

 

Monday, October 8, 2012

 

Oil slipped back for a second day as a meeting of European officials amid speculation Europe's debt crisis and economic slowdown in Asia which led to reduced demand for fuel.

 

Oil fell as much as 1.9 percent. Price closed the third weekly decline on the date October 5, this is the longest decline since June. EU finance ministers meet in Luxembourg today to discuss the finances of Spain. Speculators cut bullish bets on oil in the week ending October 2. The development of growth in East Asia including China, will slow down since 2001, according to the World Bank.

 

"Action evasion risk will continue to rise in the short term," said Carsten Fristch, an analyst at Commerzbank AG in Frankfurt, who predicts oil will rebound at the end of last month. "Solutions to the crisis in the euro zone is still far away."

[mynameisandhy]

Kuwait: Oil Has Adequate Supply

 

Tuesday, October 09, 2012

 

Relatively stable oil markets and crude prices reflect market fundamentals, according to a statement Kuwaiti Oil Minister, Hani Abdulaziz Hussain, on Tuesday.

 

"Current market conditions are relatively stable, the supply is also good. So not a huge imbalance between supply and demand," said Hussain told reporters in Riyadh. "The price now reflects the actual market fundamentals. Oil markets have stabilized and balanced."

 

Hussain was in the capital of Saudi Arabia for a meeting of the Gulf Cooperation Council. Kuwait currently has a production capacity of about 3 million barrels per day.

 

Currently, crude oil for November delivery contract offered in the range of $ 90.10 per barrel, or about 0.9% above the closing price on Monday.

[mynameisandhy]

Mute Appreciation OPEC Oil Report

 

Wednesday, October 10, 2012

 

Continued concerns over the security of the Middle East still prop up crude oil prices on Wednesday. Military action that occurred between Turkey and Syria, Iran and the conflict blocks west, and the elections in Israel has boosted concerns about supply disruptions from the Middle East. Israeli Prime Minister Benjamin Netanyahu said that early elections would strengthen his political position in anticipation of any military action counter Iran.

 

However, the appreciation of oil prices on Wednesday still seems to be limited after the Organization of Petroleum Exporting Countries, or OPEC released their latest monthly report.

 

World oil demand is estimated to grow by 800,000 barrels per day this year, down 100,000 barrels from the previous projection, according to the monthly report of OPEC, as the weak global economy.

 

As for the year 2013, OPEC still has not changed its forecast demand 800,000 barrels per day. At the same time OPEC also expressed concern over the continued uncertainty of the world economy, which has brought a threat to the industry and in turn can affect energy demand in the United States and China.

 

"The risk that triggered the turbulence of the world economy may still be affecting the projected demand in 2013," OPEC said.

 

Currently, crude oil for November delivery contract offered in the range of $ 91.90 per barrel, or 0.35% below the closing price yesterday, after touching the highest price in the daily $ 92.53 per barrel.

[mynameisandhy]

Oil Steady Above $ 91, Potential Distressed Weak Demand

 

Thursday, October 11, 2012

 

U.S. crude oil contracts are steady on Thursday at the $ 91 a barrel, as traders try to compensate geopolitical risk in the presence of signal weakening global oil demand.

 

NYMEX crude oil contracts for delivery in November moved up 6 cents to 91.31 a barrel in early Asian trading session, after falling as much as 1 U.S. dollar in the previous session.

 

Global oil demand is listless than previously expected as the economic slowdown continues to burden consumption, according to a monthly report released yesterday by the U.S. government and OPEC.

 

U.S. crude oil inventories rose 1.6 million barrels last week, the American Petroleum Institute said yesterday, exceeding consensus analyst expectations. EIA will release its weekly inventory report on Thursday.

[mynameisandhy]

Crude Aims $ 93 Related Tension Turkey - Syrian

 

Friday, October 12, 2012

 

U.S. crude oil contracts toward $ 93 a barrel on Friday, lifted by the tension between Turkey and the Syrian refinery and supply disruptions in the North Sea.

 

NYMEX oil futures contract for November delivery rose 25 cents to $ 92.32 a barrel in early Asian trading session, after gaining nearly one dollar in the previous session.

 

U.S. crude oil inventories rose 1.67 million barrels last week, a total of 2 times than expected, but the decline in product inventories and distillate inventories fall a little hold concerns about crude oil inventories that are the focus of attention.

[mynameisandhy]

EU apply new sanctions to iran

 

Monday, October 15, 2012

 

The European Union agreed to impose new sanctions against Iran in order to increase pressure to ignore Tehran's nuclear ambitions, according to German Foreign Minister Guido Westerwelle. "We have enacted new sanctions to increase the pressure on Iran and make negotiations more important," said Westerwelle.

 

The EU will limit the activities of the banking sector, industry, and the shipment of Iran: it is one of the most severe penalties ever imposed European Union. Sanction is an EU effort to reduce Iran's nuclear capabilities and also a reaction to the failure of the talks so far.

 

In the meantime, try reducing the oil attenuation in the London session. Nymex oil is now trading $ 91.55, try to stay away from low-level daily $ 90.81

[mynameisandhy]

Oil Being Under Pressure Despite Tightened Iran Embargo

 

Tuesday, October 16, 2012

 

Oil prices fell in thin early European trading session after a session sharply higher in Asian trading Tuesday amid weaker dollar and the strengthening of regional stock market responded positively to U.S. retail sales data.

 

Observed so far U.S. crude futures for November month contract fell -0.42% to $ 91.45 per barrel, after briefly rose to a level of $ 92.15 and an intraday low at $ 91.44.

 

From the economic side, the RBA meeting minutes last October showed that policy makers see a higher growth rate is weaker than previous projections based on recent data from Australia, so the prospect of further interest rate cuts are not impossible.

 

However weakening oil is still limited due to a revision of the Iranian oil embargo tightened by the U.S. and the European Union.

[mynameisandhy]

Oil Translucent Above $ 92 Related Potential Bailout Spain

 

Wednesday, October 17, 2012

 

Oil futures ended successfully penetrate above $ 92 per barrel on Tuesday amid optimism that Spain is getting closer to filing a formal bailout.

 

Observed so far for the contract price of crude oil in November rose 0.11%, at $ 92.16 per barrel level tertopang positive investor sentiment after consideration of Spain to apply for a credit line from the European Union's bailout mechanism and seek support from eurozone partners.

 

News also helped sustain the performance of other risky assets such as the euro, U.S. dollar and pressed so as to provide support for dollar-denominated commodities such as oil.

 

However reinforcement remains limited due to concerns over developments in Iran are also likely to offset significant selling pressure for a while. Additional EU sanctions against Iran will further burden the Iranian economy and reviving concerns over oil supply disruptions from the Middle East.

[mynameisandhy]

Strengthening Dollar As Oil sales drop

 

Thursday, October 18, 2012

 

Crude oil futures slipped thin since the European trading session on Thursday, after Chinese economic growth data failed to spark a rally is weak enough, the strengthening dollar conversely factor instead put pressure on oil.

 

Observed oil prices so far for the month November contract fell -0.21%, at $ 91.93, after reaching its highest point at $ 92.24 and an intraday low at $ 91.76 daily.

 

Overall the price of oil is still traded in a narrow range, as growth data released in China failed to sustain further price increases. Report of China's GDP slowed to 7.4% in Q3 as expected, and lower than the second quarter amounted to 7.6%.

[vensunreddy]

dear sir

overall crude positive side ?

[mynameisandhy]

Oil down on Drop in Equities

 

Friday, October 19, 2012

 

Oil fell sharply on Friday, with a decline of 2%, weighed down by a stronger dollar although traders continue to worry about the temporary closure of the Keystone pipeline. "Crude oil turned to a low level after home sales fell by 1.7% in September, data bucked the trend in the week after the housing sector data more positive move, "said Fawad Razaqzada, technical analyst at GFT Markets.

 

"The fall in oil prices along with poor corporate earnings, leading to increased action evasion and risky assets plus dollar also rose," according to Fawad. "Consequently all the high-risk currencies and oil weakened.". Commodities priced in dollars, such as oil, tends to weaken when the dollar strengthens, because the dollar becomes more expensive compared to other currencies.

[mynameisandhy]

Shoot for Oil Supply Issues

 

Monday, October 22, 2012

 

Crude oil prices rose again on Monday (22/10) due to some inventory sentiment.

 

The combination of reduction in crude oil supply outlook and political tensions in Syria able to inflate prices. The contract November delivery rose 38 cents, or 0.4%, at $ 90.43 per barrel.

 

A major Canadian oil pipeline, which supplies flow from the country to the territory of the United States has not been active since last Wednesday. The pipeline is expected to reopen Monday or a day later than previously thought. Political and military tensions in the Middle Temur contributed to prospect inventory, particularly after Lebanon's intelligence chief, Brig. Wissam Al-Hassan, was killed Friday. Media reported that Al Hassan had been allied with the Syrian rebels. His death sparked worries about the growing political crisis in Lebanon. Crude oil prices currently observed at $ 90.21 per barrel.

[mynameisandhy]

Exceeded Supply, Oil sales drop

 

Tuesday, October 23, 2012

 

Oil contract prices are expected to drop at the end of the year watch of slowing global economic growth so as to create a surplus of supply, according to analysts at Citi Futures and OTC Clearing's Energy Futures Specialist, Timothy Evans. Projected surplus inventory EIA, OPEC and IEA at 640.000 barrels can drag the price of ICE Brent to $ 95 - $ 100/barrel and Nymex oil to $ 80 - $ 85/barrel, clear Evans. Oil rose in Asian trade moves after Monday (22/10) dropped. December Nymex crude oil futures rose 27 cents to $ 88.92/barrel on Globex, while ICE Brent oil December contract rose 12 cents to $ 109.56/barrel.

[mynameisandhy]

Tend Sideways Oil Weakens Awaits FOMC Meeting

 

Wednesday, October 24, 2012

 

U.S. crude futures moved sideways to be weakening in the European trading session on Tuesday as the lack of new news and wait-and-see attitude of investors ahead of the Fed's monetary policy meeting.

 

Observed so far U.S. crude futures for December contract fell -0.19% to thin $ 88.48 per barrel, after reaching its highest point at $ 89.29 and an intraday low at $ 88.21 daily.

 

Market players are still holding themselves before the Fed statement later Wednesday, although no expectations of changes in monetary policy of the U.S. central bank but investors still wary if the results of the Fed's monetary policy meeting this time even supporting the strengthening of the U.S. dollar.

 

Oil demand is quite weak in the U.S. and a slowing economy have contributed to a negative catalyst for oil. Besides the expected rise in U.S. oil reserve stocks for 3 weeks in a row to 1.7 million barrels helped push oil prices.

[mynameisandhy]

Coming to the U.S. Election, Oil Prices Flat

 

Thursday, October 25, 2012

 

Nymex oil prices remain at the current range of $ 85.90/barrel economic activity in the U.S. because that shows weakness. Uncertainty of the presidential elections to be held on the first weekend in November helped push the price movement, according to ANZ.

 

FOMC meeting did not produce anything new, according to market estimates, but the central bank board member noted that business investment growth slowed. Slowdown in business activity in the U.S. combined with the weakness of the European economy make the unemployment rate remains high and easing policies are still needed. This helped push the price of commodities, he added. December Nymex crude oil futures contract rose 3 cents to $ 85.76/barrel on Globex while the December ICE Brent oil at $ 107.85/barrel falt.

[mynameisandhy]

Oil Gains Amid Thin Sluggish Global Demand

 

Friday, October 26, 2012

 

Oil print thin reinforcement at the close on Friday, but still dropped more than 4% for the week, as global economic data mixnya results which underline about the outlook for global energy demand. U.S. economic data on Friday "seems to be seen as bullish, thus changing the movement of crude oil that had weakened slightly to a little higher," said Darin Newsom, senior analyst at Telvent DTN. "For the long term though, sufficient oil stocks are expected to hold possible rally. "

 

Oil prices "should be held above the level of $ 85, otherwise there will be more selling," said Richard Hastings, a macro strategist at Global Hunter Securities. "So far, the news about the macro demand mix, not enough to push the price to one side," said Richard.

[mynameisandhy]

Worry Oil Demand Outlook

 

Monday, October 29, 2012

 

Oil fell in the London session as widespread worries over Europe's debt problems were feared could undermine global oil demand outlook. Greece has yet to reach an agreement with the troika over the austerity package prerequisite disbursement next bailout. German Finance Minister refuses to approve the plan of restructuring of Greek debt. Italy now have to face the political risk after the Liberty Party leaders have threatened to withdraw support from the coalition government of Prime Minister Mario Monti.

 

On the other hand, the approaching hurricane Sandy to the east coast of the U.S. has pushed oil refining companies to reduce its demand for oil. Phillips 66 has been closed while the largest oil refining facilities in the U.S. 2, three oil refineries in New Jersey only reduce refining process. "With the company's refinery reduces its activity then this could boost U.S. oil reserves. This would be a negative factor for oil," said Michael Creed, an economist at National Australia Bank. 238

[mynameisandhy]

Oil Rebound from 4-Month Low Point

 

Tuesday, October 30, 2012

 

Oil prices soared from 4-month lows after the company reported earnings rate of positive energy that successfully boost confidence of investors that the fuel consumption is still quite high.

 

Another positive catalyst for oil refineries operating in the U.S. east coast from Hurricane Sandy has decreased the amount of oil output. The decline in production of fuel from the U.S. east coast also helped trigger the rise in fuel prices in the U.S. of 4.2% in line with the closure of refineries Bayway plant in New Jersey.

 

Observed so far the price of oil futures for the month November contract climbed 0.56% to as low as $ 86.03, after reaching its highest point at $ 86.19 intraday and daily lows at $ 85.10 per barrel.

[mynameisandhy]

Oil Crop Largest Since May Decrease

 

Wednesday, October 31, 2012

 

Oil rebounded, trimming the biggest drop since May, as refineries began to resume operations after the storm Sandy is moving away from the U.S. East Coast.

 

Crude oil futures rose as much as 1.1 percent after yesterday rose as much as 0.2 percent. Energy Solutions Philadelphia refinery in Pennsylvania that produces as much as 355,000 barrels per day and NuStar Energy LP refinery in Paulsboro, New Jersey that produce as much as 74.000 barrels per day, tomorrow will begin full production, the company said. Seven oil refineries with a total capacity of 1.29 million barrels per day have closed or reduced operations because of the storm Sandy.

 

 

"The storm has gone, and now we have to investigate how much impact that occurred at the refinery," said Tetsu Emori, chief financial manager at Astmax Investment Management Inc. in Tokyo. "Investors in the market does not want to take a new position at this time, but they also not willing to sell because oil is currently quite cheap and oversold. "

[mynameisandhy]

Uphill U.S. Data Ahead Of Oil

 

Thursday, 01 November 2012

 

Oil on moderate hikes to obtain today along China's data suggests the occurrence of some improvements in the manufacturing sector of the country and also because investors are menungu clues on recovery in the United States.

 

Strengthening the current oil following the weakening of commodity prices in October of about 6.5%, and in the middle of the arrival of Chinese manufacturing data results are positive, it indicates continued recovery.

 

We believe that oil prices will strengthen further in the coming days, if all the economic indicators showed stable or increasing, with estimated oil demand would soon rise, analysts at Commerzbank said in his note.

 

"Therefore, economic data on the eve of this tend to be more important than u.s. oil inventory data, which also delayed its release." according to analysts.

[mynameisandhy]

Oil Slumped Ahead Of U.S. Data

 

Friday, 02 November 2012

 

Oil slipped on Friday as weak economic data from Europe that is increasingly dismal picture for the strengthening outlook for oil demand, coupled with investors waiting for the gelisahnya of Non-Farm Payroll data in the US this evening.

 

Eurozone Manufacturing is shrinking for months on the 15th in October as orders and production of goods down, indicated by the survey, is increasingly strengthened the view that fuel demand in developed countries is likely to remain weak.

 

Weak economic growth, high prices, and increasing the fuel efficiency of vehicles, it is all the more pressing the consumption of gasoline and diesel in large parts of Western Europe during the summer, shown by official statistics.

 

Traders now are awaiting data on U.S. Non-Farm Payroll at about 7.30 pm.

 

Economists predict the unemployment rate will rise to U.S. 7, 9 per cent, in contrast to a decrease of surprises that happen in September.

 

"It seems the market seen on the defensive side ahead of non-farm payrolls data, no high hopes for it and they feel that the growth and recovery in the u.s. will slow down," said Bjarne Schieldrop, analyst at SEB in Oslo.