Wednesday, 18 October 2017

Natural Gas Bounced Back From The Prior Session's Losses

Natural gas trading range for the day is 188.8-199.

Natural gas bounced back from the prior session's losses, as hopes for higher heating demand this winter than in the past two winters provided support.

In latest forecasts, U.S. NOAA predicted temperatures from November through March would be 13% colder than last winter.

Traders were optimistic that colder weather would boost heating demand this winter over the prior two snow seasons, which were among the warmest on record.

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Crude Oil Prices Pared Its Gains As Expectations Of A Ramp Up

Crude oil trading range for the day is 3293-3423.

Crude oil prices pared its gains as expectations of a ramp up in U.S. production weighed on sentiment.

U.S. crude inventories fell by 7.1 million barrels in the week to Oct. 13 to 461.4 million barrels, the American Petroleum Institute said.

China may ban traders from importing scrap copper from the start of next year, as China deepens its crackdown on imports of foreign waste and cuts pollution from heavy industries.

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Silver Prices Were Under Pressure As Speculation Mounted

Silver trading range for the day is 39394-40436.

Silver prices were under pressure as speculation mounted that the next head of the Federal Reserve will be more hawkish.

Downside seen limited supported by safe-haven demand as conflict between Iraqi and Kurdish forces broke out near the oil-rich city of Kirkuk.

Trump is also due to meet with Yellen later in the week as part of his search for a new candidate for her position, a source familiar with plans for the meeting said.

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Gold Prices Dropped On Speculation That The Eventual Successor

Gold trading range for the day is 29419-29899.

Gold prices dropped on speculation that the eventual successor to U.S. Federal Reserve Chair Janet Yellen will favour higher interest rates, denting bullion's appeal.

the U.S. Labor Department said import prices jumped 0.7 percent last month, the biggest gain since June 2016, pushing inflation expectations higher.

Trump will meet with Fed Chair Janet Yellen as part of his search for a new candidate for her position, a source familiar with the planned meeting said.

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Tuesday, 17 October 2017

Natural Gas Prices Dropped As Traders Reacted To Forecasts Showing

Natural gas trading range for the day is 185.3-197.7.

Natural gas prices dropped as traders reacted to forecasts showing a return to mild weather after a cold spell in the eastern U.S.

Bearish speculators are betting that the warmer weather will reduce early-winter demand for the heating fuel.

Prices often reach a seasonal low in October, when mild weather weakens demand, before recovering in the winter, when heating-fuel use peaks.

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Crude Oil Prices Gained On Concerns Over Potential Renewed U.S. Sanctions

Crude oil trading range for the day is 3295-3423.

Crude oil prices gained on concerns over potential renewed U.S. sanctions against Iran as well as conflict in Iraq.

Prices were further supported by drillers cutting back the number of rigs looking for new production.

There were also concerns about the stability of Iraq, the second biggest oil producer within the Organization of the Petroleum Exporting Countries behind Saudi Arabia.

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Silver Prices Traded In Range As Safe Haven Demand Remained Steady

Silver trading range for the day is 40099-40753.

Silver prices traded in range as safe-haven demand remained steady amid ongoing geopolitical uncertainty and concerns over the pace of U.S. interest rate hikes.

U.S. inflation came in cooler than expected, raising uncertainty about the pace of U.S. interest-rate hikes by the Federal Reserve.

Federal Reserve Chair Janet Yellen appeared positive on the inflation outlook in the months reiterating her stance for continued gradual increases in interest rates.

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