Commodity Blog

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Crude Gains on Hopes for Deal Between US Politicians Posted: 31 Dec 2012 11:33 AM PST Crude oil advanced today on hopes that US politicians will make a last-minute deal to avoid the $600 billion in automatic tax hikes and spending reductions. Senate Majority Leader Harry Reid, who previously was complaining about lack of progress in negotiations, said that an agreement can yet be reached. Not many analysts believe that time has left for achieving such a compromise, but some of them also [...]

Natural Gas Drops at the End of Warmest Year on Record Posted: 31 Dec 2012 10:35 AM PST Natural gas declined today in New York on forecasts of warmer weather in the United States. Forecasters predicted that this week’s colds will be followed by warmth. It is expected that above-norm temperatures will stay for two to three weeks. According to the National Oceanic and Atmospheric Administration, this year may become the warmest since the agency has begun to compile data. Stockpiles of natural gas swelled as higher-than-normal weather reduced [...]

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