By Debbie Carlson | The Guardian Weather has caused planting delays in the southern states and while the price hike is limited to the US, experts wonder if parts of Asia will be next Blame El Niño. The weather phenomenon is causing havoc for US rice farmers and a sharp price spike in the world’s [...]Continue Reading →
By Mark Shenk & Grant Smith | BloombergBusiness Oil dropped to the lowest level in more than a week amid signs that seasonal refinery maintenance is crimping crude demand. West Texas Intermediate futures fell as much as 1.7 percent, adding to Wednesday’s 4.1 percent slump. U.S. refinery utilization slid 2.2 percentage points last week while [...]Continue Reading →
By Myra P. Saefong | MarketWatch Oil futures rebounded on Monday after suffering from their biggest daily drop in three weeks in the prior session, finding support from expectations for further declines in global-crude production. On Monday, however, traders turned their attention to worries that low oil prices have begun to fuel a significant drawdown [...]Continue Reading →
By Mark Shenk | BloombergBusiness Oil dropped for the fifth time in six days in New York as concern that China’s slowdown will deepen added to concerns that the global oversupply will continue through most of next year. West Texas Intermediate futures fell as much as 2.3 percent. China’s industrial output missed economists’ forecasts and [...]Continue Reading →
by Alton Harrington | The Weather Space Brent crude for October was down 90 cents at $48.66 a barrel by 1450 GMT. Oil prices fell on Wednesday as concerns about the global economy exacerbated worries that an oversupply of crude could last longer than expected. Ang said dealers expect a further drop in oil prices [...]Continue Reading →
By Mark Shenk | BloombergBusiness Oil capped the biggest three-day gain in 25 years after OPEC said it’s ready to talk to other global producers to achieve ‘fair prices’ and the U.S. government reduced its crude output estimates. Crude traded in New York surged 27 percent in three days, the most since August 1990 when Iraq [...]Continue Reading →
By Kelly Gilblom | BloombergBusiness Natural gas futures gained the most in four days, rebounding from an 11-week low Monday amid a global rout in commodities, as rising temperatures may spur demand from power plants. Temperatures in New York may reach 89 degrees Fahrenheit (32 degrees Celsius) on Saturday, 8 above normal, according to AccuWeather [...]Continue Reading →
NPR’s Ari Shapiro talks with Chicago-based commodities trader Jack Scoville about this wild day for the markets. He says he hasn’t seen anything quite like it in the near 30 years he’s been trading. Listen Here: http://www.npr.org/2015/08/24/434364474/commodities-trader-somewhat-confident-weve-seen-the-worst-of-market-fall?utm_campaign=storyshare&utm_source=twitter.com&utm_medium=socialContinue Reading →
Paul Davidson | USA TODAY U.S. oil prices followed stocks lower Monday, sliding nearly 6% and closing below $40 a barrel for the first time since February 2009. West Texas Intermediate, the U.S. benchmark, slipped $2.21 to close at $38.24 a barrel. Brent, the international benchmark, tumbled 6.1% to settle at $42.69, dropping below $43 [...]Continue Reading →
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