Uncategorized

Written by Brad Zigler
Monday, 18 May 2009 11:55

Real-time Monetary Inflation (per annum): 8.2%

Copper traders were buoyed by the relatively good news coming out about Lowe's Cos., Inc. (NYSE: LOW), taking the active July COMEX contract above $2.04 a pound Monday morning. A better-than-expected quarterly profit, together with a raise in earnings forecasts from the nation's second-largest home improvement chain gave fresh hope that the economic slump was easing and spending was stabilizing.

Copper traders are also focused on Tuesday's April housing starts report from the National Association of Home Builders. Insiders' forecast of 520,000 new units would be an improvement on the 510,000 ...

Written by Brad Zigler
Wednesday, 06 May 2009 11:32

Real-time Monetary Inflation (per annum): 7.8%

Overnight, crude oil traders shunned analysts' opinions, pinning their fortunes to a report by the U.S. American Petroleum Institute (API) that hinted of a drawdown in oil and gasoline stockpiles. Crude oil for June delivery rose as much as 60 cents a barrel to the $54.40 level in NYMEX electronic trading after slipping 63 cents in the day session. Oil prices climbed nearly 8% this week and are 21% higher for the year.

Ahead of the U.S. Energy Information Administration's (EIA) weekly inventory report, API said oil stocks were likely to drop by 1 million barrels. API's gasoline forecast ...

Written by Brad Zigler
Monday, 04 May 2009 12:47

Real-time Monetary Inflation (per annum): 7.8%

Welcome to May, the start of the summer driving season. What? Not quite ready to pack up the family chariot and head off to recreate?

Well, when you're actually ready to drive, you'll encounter competitors for gasoline at the pump. Where do you expect gasoline prices to be when you need a summertime fill-up: higher or lower than now?

Gasoline prices have a tendency to rise ahead of the summer driving season. Fluctuations in crude oil prices, though, impact petrol prices. If crude tailspins, gasoline prices won't hold their ground, much less rally. And, if oil prices spike higher, ...

Written by Brad Zigler
Wednesday, 29 April 2009 12:54

Real-time Monetary Inflation (per annum): 7.6%

There's plenty of oil awash in the U.S. stockpile according to the U.S. Energy Information Administration (EIA). Traders took oil down a couple of notches over the past two trading days, but overnight seemed to anticipate a bullish inventory report from the agency.

After Tuesday's NYMEX day session, the June contract's price moved to just under $50 a barrel, electronic market action was all about turnaround. Bidders drove crude steadily higher toward the $51 mark until profit-taking leveled the ascent ahead of the Wednesday floor session opening.

Traders seemed unmoved by ...