International Business News - Commodities http://www.ibtimes.com/rss/feed/commodities.rss All articles are copyrighted by IBTimes.com 120 30 http://www.ibtimes.com/rss/feed/commodities.rss http://www.ibtimes.com/images/top_logo_ibt2_3.gif Optimism is detected throughout the black gold market oil seems cheaper to international traders as it is as we know a dollar-priced commodity, while that the current strong snowy conditions witnessed within the northeast coast of the top oil consumer country is most probably forecasted to boost the demand for heating oil by 11.5 percent above normal this week. http://www.ibtimes.com/articles/20100209/fundamental-oil-report-2010-02-09.htm http://www.ibtimes.com/articles/20100209/fundamental-oil-report-2010-02-09.htm Tue, 09 Feb 2010 11:12:05 EST Africa's largest oil producer, Nigeria is concerned on reports that its oil reserves in the Niger Delta region will dry and disappear by the year 2040. Studies by country's Regulatory and monitoring organs blamed activities of militant groups in the region, ineptitude leadership and rapid depletion of ore, a major component for the exploration are contributory factors that may see the end of Nigeria's oil. http://www.ibtimes.com/articles/20100209/niger-delta-oil-reserves-disappear-2040.htm http://www.ibtimes.com/articles/20100209/niger-delta-oil-reserves-disappear-2040.htm Tue, 09 Feb 2010 10:08:09 EST Bonds are currently 6 lower at 118'23. An overnight rally in the Dollar and stock index futures have put some pressure on the Bonds this morning. Near term support remains at 117'20 and resistance at 120'03. For the moment I am only looking for short term trades (1-3 days) with limited risk. Basically I am looking for overbought or oversold sold areas in which to initiate a short term trade from either side of the market. http://www.ibtimes.com/articles/20100209/nemenoff-report.htm http://www.ibtimes.com/articles/20100209/nemenoff-report.htm Tue, 09 Feb 2010 09:50:22 EST Lower closes on Monday for the eurodollars, bonds and notes. The eurollars made their lowest close since January 7th but really haven't gone anywhere since the above mentioned date while being in a bull market long-term. The bonds and notes settled lower but are both in up-trends both giving me BUY SIGNALS on Friday. http://www.ibtimes.com/articles/20100209/futures-market-commentary.htm http://www.ibtimes.com/articles/20100209/futures-market-commentary.htm Tue, 09 Feb 2010 09:43:10 EST Globally renowned commodities expert and investor Jim Rogers says world's focus in the coming years is going to be on agricultural commodities and food prices. According to him, the prices of agricultural commodities and food are going to continuously rise in the coming years. "Commodity prices are going to shoot up. The challenge is that people are eating more foods these days. But the supply of food products is coming down," he said. http://www.ibtimes.com/articles/20100209/commodity-prices-shoot-jim-rogers.htm http://www.ibtimes.com/articles/20100209/commodity-prices-shoot-jim-rogers.htm Tue, 09 Feb 2010 09:39:23 EST Crude oil price strengthens to 72.4 in European morning. News about ECB president's attendance to a EU meeting spurs speculations that policymakers will help resolve Greece's deficit problem. Moreover, the US National Weather Service issued storm warnings from Utah to New Jersey and signals of below-normal temperatures in the East. Cold weather support energy prices as it boosts consumptions. Others in the energy complex also rise with heating oil surging +1% to 1.901 and gasoline +0.5% to 1.902... http://www.ibtimes.com/articles/20100209/sentiment-turns-temporary-amid-eus-assistance-on-greece.htm http://www.ibtimes.com/articles/20100209/sentiment-turns-temporary-amid-eus-assistance-on-greece.htm Tue, 09 Feb 2010 09:36:07 EST You've lost that bullish feeling, lost that bullish feeling. You've lost that bullish feeling and it's gone, gone, gone! Oil is trying to find that bullish passion that it lost sometime ago. Yet even after the big oil breakdown last week, the market failed to find the inspiration it needed to continue its assault on the downside. Oh sure, the bulls were bloodied last week as the PIIGS (Portugal, Italy, Ireland, Greece and Spain) started to fall apart and they are hesitant to step back into a mar... http://www.ibtimes.com/articles/20100209/energy-report-tuesday-february2010.htm http://www.ibtimes.com/articles/20100209/energy-report-tuesday-february2010.htm Tue, 09 Feb 2010 09:26:18 EST A slew of stories related to the early departure from a Sydney summit by the ECB's Jean-Claude Trichet gave rise to speculation that something of a big announcement could be in the making regarding Greece this week. The euro found a bit of hopeful energy in the unfolding saga and players were certainly looking forward to whatever the man nicknamed "Mr. Euro" might have to say on the subject that has been obsessing markets for the better part of the past two months. The US dollar was thus the sub... http://www.ibtimes.com/articles/20100209/my-big-fat-greek-rescue.htm http://www.ibtimes.com/articles/20100209/my-big-fat-greek-rescue.htm Tue, 09 Feb 2010 09:22:05 EST Gold rose some 1% in US trading yesterday to close at $1,065.30/oz. It then rallied to over $1,073/oz Asian trading before giving up some of those gains in European trading this morning. Gold is currently trading at $1,066.00/oz and in euro and GBP terms, gold is trading at €779/oz and £685/oz respectively. http://www.ibtimes.com/articles/20100209/gold-silver-platinum-palladium-rhodium-precious-metals.htm http://www.ibtimes.com/articles/20100209/gold-silver-platinum-palladium-rhodium-precious-metals.htm Tue, 09 Feb 2010 07:13:10 EST Oil rose above $72 a barrel on Tuesday due to a weaker U.S. dollar and robust buying interest as investors looked for bargains following last week's price slide to near two-month lows. http://www.ibtimes.com/articles/20100209/oil-rises-above-72-on-weaker-dollar-buying.htm http://www.ibtimes.com/data/articleimgs/228044-a-man-refuels-his-car-atpetrol-station.jpg http://www.ibtimes.com/articles/20100209/oil-rises-above-72-on-weaker-dollar-buying.htm http://www.ibtimes.com/articles/20100209/oil-rises-above-72-on-weaker-dollar-buying.htm Tue, 09 Feb 2010 06:48:01 EST The price of spot Crude Oil has apparently begun to mirror the consolidation movement of the US Dollar since Friday. http://www.ibtimes.com/articles/20100209/crude-oil-expected-hit-76-barrel.htm http://www.ibtimes.com/articles/20100209/crude-oil-expected-hit-76-barrel.htm Tue, 09 Feb 2010 05:47:07 EST Technical analysis for crude oil with major support and resistance levels and recommendations for 09-02-2010 http://www.ibtimes.com/articles/20100209/technical-oil-2010-02-09.htm http://www.ibtimes.com/articles/20100209/technical-oil-2010-02-09.htm Tue, 09 Feb 2010 02:03:34 EST Technical analysis for precious metals with major support and resistance levels and recommendations for 09-02-2009 http://www.ibtimes.com/articles/20100209/silver-technical-precious-metals-2010-02-09.htm http://www.ibtimes.com/articles/20100209/silver-technical-precious-metals-2010-02-09.htm Tue, 09 Feb 2010 00:36:14 EST Technical analysis for precious metals with major support and resistance levels and recommendations for 09-02-2009 http://www.ibtimes.com/articles/20100209/gold-technical-precious-metals-2010-02-09.htm http://www.ibtimes.com/articles/20100209/gold-technical-precious-metals-2010-02-09.htm Tue, 09 Feb 2010 00:36:14 EST Coffee closed lower on Friday as it extended the decline off December's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold, diverging but are turning bearish again signalling that additional weakness is possible near-term. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted. http://www.ibtimes.com/articles/20100208/coffee-technical-outlook.htm http://www.ibtimes.com/articles/20100208/coffee-technical-outlook.htm Mon, 08 Feb 2010 11:47:48 EST Natural Gas closed higher on Friday and above the 20-day moving average crossing confirming that a low has been posted. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends today's rally, the reaction high crossing is the next upside target. Closes below Thursday's low crossing would temper the near-term friendly outlook. http://www.ibtimes.com/articles/20100208/natural-gas-technical-outlook.htm http://www.ibtimes.com/articles/20100208/natural-gas-technical-outlook.htm Mon, 08 Feb 2010 11:45:20 EST Crude Oil closed lower on Friday and tested the 87% retracement level of the September-January rally crossing. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are diverging and are turning neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends the decline off January's high, September's low crossing is the next downside target. http://www.ibtimes.com/articles/20100208/crude-oil-technical-outlook.htm http://www.ibtimes.com/articles/20100208/crude-oil-technical-outlook.htm Mon, 08 Feb 2010 11:42:30 EST Silver closed lower on Friday as it extends yesterday's decline below the 38% retracement level of the 2008-2009-rally crossing. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are oversold but are neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends the decline off January's high, the 50% retracement level of the 2008-2009-rally crossing is the next downside target. Closes above the 20-day moving average cro... http://www.ibtimes.com/articles/20100208/silver-technical-outlook.htm http://www.ibtimes.com/articles/20100208/silver-technical-outlook.htm Mon, 08 Feb 2010 11:38:36 EST Gold closed lower due to short covering on Friday as it consolidated some of the decline off December's high. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are turning bearish signalling that additional weakness is possible near-term. If it extends this week's decline, the 38% retracement level of the 2008-2009-rally crossing is the next downside target. Multiple closes above the 20-day moving average crossing are needed to confirm that a short-term l... http://www.ibtimes.com/articles/20100208/gold-technical-outlook.htm http://www.ibtimes.com/articles/20100208/gold-technical-outlook.htm Mon, 08 Feb 2010 11:29:55 EST Friday's employment report was not enough to get traders' minds off of all of the economic problems that are happing in Europe. Oh sure, the market would love to ignore those pesky little problems in Portugal and Greece, yet with a less than spectacular jobs number, it was impossible to do so. The unemployment rate did fall unexpectedly to 9.7%. That was down from the peak of 10.1 percent in October. Yet the hope that we would see positive job growth was dashed when the report showed we lost 20,... http://www.ibtimes.com/articles/20100208/energy-report-monday-february2009.htm http://www.ibtimes.com/articles/20100208/energy-report-monday-february2009.htm Mon, 08 Feb 2010 10:11:08 EST