Commodity Blog

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Crude Oil Falls on Swelling Stockpiles & Economic Slowdown Posted: 30 Apr 2012 07:15 PM PDT Crude oil fell on speculation that US inventories will advance to a highest level in 21 years. Analysts estimated that stockpiles climbed 2.5 million barrels to 375.5 million last week. The report from the Energy Department will be released tomorrow. Demand for oil may wane as the global economic growth is slowing. Reports showed that manufacturing in China rose less than expected and business activity in the United States slowed. Spain’s gross domestic product fell 0.3 percent in the first quarter of this year, following the same rate of decline in the previous quarter. Two quarters of economic decline means the country has entered the recession. Futures for delivery of crude in June fell $0.15 to $104.72 per barrel on NYMEX. Brent crude dropped from $119.65 to $119.47 per barrel yesterday on ICE and traded today at about $119.28. (...) Read the rest of Crude Oil Falls on Swelling Stockpiles & Economic Slowdown (12 words) Posted on Commodity blog.

Commodity Prices — April 30th 2012 Posted: 30 Apr 2012 12:29 PM PDT Latest commodity prices (ICE, NYMEX, CME) as of 19:27 GMT: Oil (Brent) — $119.34 per barrel. Gold — $1,665.70 per troy ounce. Silver — $31.00 per troy ounce. Palladium — $681.80 per troy ounce. Copper — $384.15 per 100 pounds. Cocoa — $2,209.00 per metric ton. Sugar — $21.17 per 100 pounds. Corn — $660.25 per 100 bushels. Soybean — $1,503.00 per 100 bushels. Posted on Commodity blog.

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