NYMEX-Crude rallies on stimulus hopes, spread play.
U.S. crude oil futures ralliedfurther Friday afternoon on hopes that passage of an economicstimulus package expected later in the day will help halt anoil demand slowdown. Spread play on the front-month March crude and the April
contract also helped pull up prices, further narrowing the
contango or the premium further months have over the the
front-month. "Those that were short March and long April are reversing
that, taking profits and getting out of that spread play before
the long weekend.
Flynn added that active trading was also seen in the Marchcontract options, which will expire on Tuesday. March crudeitself will expire on Feb. 20.
Looks like a bounce on stimulus hopes, but onlyconcentrated on the two front months. So just a slightretracement in the contango. Also, crack spreads are givingback some of the recent gains," said Tom Bentz, analyst at BNPParibas Commodity Futures Inc
Friday, February 13, 2009
Saturday, January 3, 2009
Commodity Report
THIS WEEK RANGES FROM PROCOMMODITY REPORT 5th Jan 2009 To 10th JANAUARY 2009 :-
INTERNATIONAL
GOLD 802$-909$
SILVER 10.80$ - 12.04$.
COPPER 1.35$-1.75$
CRUDE OIL 37.60$- 49.80$
MCX
GOLD 12640-12900,13090,13220 ,13430,13520,13750,13820.
SILVER 17350 -17550,17850,18150,18380, 18775,19050,19255,19560.
COPPER 141-143,149,155,159,162,167.
CRUDE OIL 2026-2057,2128,21258,2280,2357,2424,2480,2536.
AGRI
CARDAMOM :- 547-555,585,593,604,618,638,648.
KAPAS :- 470-475,480,482,485,495,502 .
Kapas khalli :- 487-494,511,529,536,550565.
Menthaoil :- 450-,462 472,483,505,525,534.
LAST WEEK REVIEW:- Most of Our Technical call achieved their targets in Bullions, Basemetals and Agri market.
NEWS:-
Israeli air strike kills Hamas military leader
Israeli forces bombed the Gaza Strip from the air and sea on Saturday, killing a senior Hamas commander, and desperate residents of the Palestinian enclave sheltered in their homes as the offensive entered a second week.
Obama urges parties to work together on economy
President-elect Barack Obama on Saturday said the struggling U.S. economy could face more challenges and urged lawmakers to act quickly on recovery proposals even as some Republicans expressed concerns about plans for a huge stimulus package.
Chrysler gets $4 billion U.S. government loan
Chrysler LLC on Friday received an initial $4 billion emergency loan from the U.S. government, two days after the government completed a parallel payout to its larger rival General Motors Corp."This initial loan will allow the company to continue an orderly restructuring," Chrysler Chief Executive Bob Nardelli said in a statement.
Ford sees sharp drop in U.S. sales
Ford Motor Co expects industry-wide December U.S. auto sales to drop by some 35 percent from a year earlier with no sign of a turnaround in the first quarter of this year.
Ford, the No. 2 U.S. automaker, expects that full-year sales of light vehicles in the world's largest market will drop to near 13.2 million for 2008, down from near 16.2 million in 2007, Ford's chief sales analyst George Pipas.
U.S. governors seek $1 trillion federal assistance
Governors of five U.S. states urged the federal government to provide $1 trillion in aid to the country's 50 states to help pay for education, welfare and infrastructure as states struggle with steep budget deficits amid a deepening recession.
The governors of New York, New Jersey, Massachusetts, Ohio and Wisconsin -- all Democrats -- said the initiative for the two-year aid package was backed by other governors and follows a meeting in December where governors called on President-elect Barack Obama to help them maintain services in the face of slumping revenues
IMPORTANT NOTE:
To Receive Daily Premium updates free of cost
Contact us at:- Procon Advisory Services India ( P) ltd .
58/1.Frst Foor , Tamil sangam road ,
Madurai 625001
Email:proconmadurai@gmail.com
PH:-0452- 4246135
MOB:-09994988433
http://www.indiaprocon.com/
Procon Advisory Services India (P) ltd
G-13 Swarna Jayanthi Complex,
East Block, Ameerpet,
Hyderabad- 500016.
Email:-proconhyderabad@gmail.com
PH: - 040-40037124 MOB:-09949169279
http://www.indiaprocon.com/
SOURCE: reuters.co.uk.Bloomberg.com.
Disclaimer: The views mentioned here are based on the historical price and news . we will not be responsible for any loss incured in trading at these levels .we recommend to consult with the financial advisor/broker for trading. All future trading entail significant risk, which should be fully understood prior trading.
INTERNATIONAL
GOLD 802$-909$
SILVER 10.80$ - 12.04$.
COPPER 1.35$-1.75$
CRUDE OIL 37.60$- 49.80$
MCX
GOLD 12640-12900,13090,13220 ,13430,13520,13750,13820.
SILVER 17350 -17550,17850,18150,18380, 18775,19050,19255,19560.
COPPER 141-143,149,155,159,162,167.
CRUDE OIL 2026-2057,2128,21258,2280,2357,2424,2480,2536.
AGRI
CARDAMOM :- 547-555,585,593,604,618,638,648.
KAPAS :- 470-475,480,482,485,495,502 .
Kapas khalli :- 487-494,511,529,536,550565.
Menthaoil :- 450-,462 472,483,505,525,534.
LAST WEEK REVIEW:- Most of Our Technical call achieved their targets in Bullions, Basemetals and Agri market.
NEWS:-
Israeli air strike kills Hamas military leader
Israeli forces bombed the Gaza Strip from the air and sea on Saturday, killing a senior Hamas commander, and desperate residents of the Palestinian enclave sheltered in their homes as the offensive entered a second week.
Obama urges parties to work together on economy
President-elect Barack Obama on Saturday said the struggling U.S. economy could face more challenges and urged lawmakers to act quickly on recovery proposals even as some Republicans expressed concerns about plans for a huge stimulus package.
Chrysler gets $4 billion U.S. government loan
Chrysler LLC on Friday received an initial $4 billion emergency loan from the U.S. government, two days after the government completed a parallel payout to its larger rival General Motors Corp."This initial loan will allow the company to continue an orderly restructuring," Chrysler Chief Executive Bob Nardelli said in a statement.
Ford sees sharp drop in U.S. sales
Ford Motor Co expects industry-wide December U.S. auto sales to drop by some 35 percent from a year earlier with no sign of a turnaround in the first quarter of this year.
Ford, the No. 2 U.S. automaker, expects that full-year sales of light vehicles in the world's largest market will drop to near 13.2 million for 2008, down from near 16.2 million in 2007, Ford's chief sales analyst George Pipas.
U.S. governors seek $1 trillion federal assistance
Governors of five U.S. states urged the federal government to provide $1 trillion in aid to the country's 50 states to help pay for education, welfare and infrastructure as states struggle with steep budget deficits amid a deepening recession.
The governors of New York, New Jersey, Massachusetts, Ohio and Wisconsin -- all Democrats -- said the initiative for the two-year aid package was backed by other governors and follows a meeting in December where governors called on President-elect Barack Obama to help them maintain services in the face of slumping revenues
IMPORTANT NOTE:
To Receive Daily Premium updates free of cost
Contact us at:- Procon Advisory Services India ( P) ltd .
58/1.Frst Foor , Tamil sangam road ,
Madurai 625001
Email:proconmadurai@gmail.com
PH:-0452- 4246135
MOB:-09994988433
http://www.indiaprocon.com/
Procon Advisory Services India (P) ltd
G-13 Swarna Jayanthi Complex,
East Block, Ameerpet,
Hyderabad- 500016.
Email:-proconhyderabad@gmail.com
PH: - 040-40037124 MOB:-09949169279
http://www.indiaprocon.com/
SOURCE: reuters.co.uk.Bloomberg.com.
Disclaimer: The views mentioned here are based on the historical price and news . we will not be responsible for any loss incured in trading at these levels .we recommend to consult with the financial advisor/broker for trading. All future trading entail significant risk, which should be fully understood prior trading.
Subscribe to:
Posts (Atom)
