Monday, May 11, 2009

Newswire: Commodities

[Crude Oil] -- Oil Falls in New York on Speculation Increased Supplies Will Limit Gains
Crude oil fell on speculation that last week’s 10 percent advance will be undone as U.S. inventories climb and fuel consumption declines.

Oil followed equity markets lower today, reversing gains made last week after the U.S. economy lost fewer jobs than expected. Crude inventories rose to the highest since 1990 in the week ended May 1 as fuel consumption tumbled, an Energy Department report showed last week.

[Natural Gas] -- Natural Gas Declines on Speculation 22% Advance Was Excessive
Futures fell for the first time in four days on speculation last week’s 22 percent rally was unjustified.

[Copper] -- Copper Futures Decline for Third Straight Session as China's Demand Eases
Copper prices fell for the third straight session in New York on signs that demand may ease in China, the world’s biggest user of industrial metals.

[Precious Metals] -- Gold, Silver Fall in N.Y. as Investment Demand Slips on Signs of Recovery
Gold and silver prices dropped in New York on speculation that investment demand will decline as more signs emerge that the global recession may have touched bottom.