26 Sep 2013
Crude Oil edges lower on choppy trading
FXstreet.com (Athens) – The commodities prices were mixed yesterday, as the crude oil edged lower in choppy trading on Wednesday, while the gold rose almost 1% on Wednesday.
Crude oil losing for a sixth day after an unexpected increase of US crude supplies
Despite the fact that DXY is down almost 0.3 percent against a basket of currencies at 80.324, the crude oil price are lower in choppy trading as comments from the Iranian foreign minister revived hopes that talks over Tehran's nuclear program could see progress, and as U.S. crude oil inventories posted a large build. Crude oil prices edged lower in choppy trading on Wednesday as comments from the Iranian foreign minister revived hopes that talks over Tehran's nuclear program could see progress, and as U.S. crude oil inventories posted a large build. Furthermore, Brent crude oil futures fell 32 cents to $108.32 a barrel. Earlier, Brent rose more than $1 to reach a session high of $110.09. In addition to the above, the U.S. crude fell 47 cents to $102.66 a barrel in a fifth day of losses. On Tuesday, U.S. crude hit a seven-week low. Last but not least regarding the crude oil, Brent's premium over U.S. crude stood at $5.66 at the close, after widening out to $6.31, a move of more than $3 since the spread dipped below $3 on Sept. 20.
Gold rose almost 1 percent on Wednesday, boosted by some safe- haven buying caused by uncertainty over U.S. budget talks. Spot gold was up 0.8 percent at $1,332.60 per ounce. The U.S. Comex gold contract for December delivery settled up $19.90 at $1,336.20 an ounce. Trading volume was about 10 percent below the 30-day average. Silver was up 0.4% yesterday at $21.76 an ounce. At the time of writing the article, all basic commodities head to south, i.e. WTI (-0.16%), Brent (-0.04%), Gold (-0.22%), Silver (-0.14%).
Crude oil losing for a sixth day after an unexpected increase of US crude supplies
Despite the fact that DXY is down almost 0.3 percent against a basket of currencies at 80.324, the crude oil price are lower in choppy trading as comments from the Iranian foreign minister revived hopes that talks over Tehran's nuclear program could see progress, and as U.S. crude oil inventories posted a large build. Crude oil prices edged lower in choppy trading on Wednesday as comments from the Iranian foreign minister revived hopes that talks over Tehran's nuclear program could see progress, and as U.S. crude oil inventories posted a large build. Furthermore, Brent crude oil futures fell 32 cents to $108.32 a barrel. Earlier, Brent rose more than $1 to reach a session high of $110.09. In addition to the above, the U.S. crude fell 47 cents to $102.66 a barrel in a fifth day of losses. On Tuesday, U.S. crude hit a seven-week low. Last but not least regarding the crude oil, Brent's premium over U.S. crude stood at $5.66 at the close, after widening out to $6.31, a move of more than $3 since the spread dipped below $3 on Sept. 20.
Gold rose almost 1 percent on Wednesday, boosted by some safe- haven buying caused by uncertainty over U.S. budget talks. Spot gold was up 0.8 percent at $1,332.60 per ounce. The U.S. Comex gold contract for December delivery settled up $19.90 at $1,336.20 an ounce. Trading volume was about 10 percent below the 30-day average. Silver was up 0.4% yesterday at $21.76 an ounce. At the time of writing the article, all basic commodities head to south, i.e. WTI (-0.16%), Brent (-0.04%), Gold (-0.22%), Silver (-0.14%).