Crude oil continue to moved lower in today’s session on fear of global economic growth and worries about Spanish debt crisis spinning out of control. Energy traders as well traders of growth commodities became cautious on Monday when Federal Reserve Bank of New York index was reported to have fallen to -10.4 for the month of September hitting a 3 year low. The previous months reading was -5.8 with analysts’
Cheniere Energy (LNG, quote) has been on trek higher since June 4th drop with the last 8 session flying much higher as the U.S. looks to natural gas as a bridge fuel.
WTI Crude Oil prices crossed the $100 market for the first time since May 3rd on 3 catalysts ranging from the Federal Reserve’s announcement of an aggressive QE3 to the unrest in the Middle East and North Africa. September Crude Oil contracts traded as high as $100.42 before pull back under the $100 level to $99.50 on possible profit taking going into the weekend, however, remains well supported as tensions
U.S. markers end the day yesterday mixed on the Federal Reserves’ extension to year end for Operation Twist and the lowering of GDP forecast. Futures today are suggesting continued red ahead of the bell.
Things are really going to worse from bad for the Market Vectors Coal ETF (KOL [stock KOL]), the dominant exchange-traded product devoted to coal stocks, this year. Shares of Patriot Coal (PCX [stock PCX] are off more than 54% today on chatter the company may have to seek bankruptcy protection and there’s speculation Patriot has met with restructuring advisers, perhaps a sign the company won’t be able to meet its
Wednesday April 25 Commodities Review
Tuesday April 24 Commodities Review
Monday April 22 Commodities Review
Friday April 20 Review
Thursday April 19 Review
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