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Commodity Outlook

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Precious Metals | Base Metals | Energy

July 08, 2011

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Energy MCX Crude NYM Crude MCX Natgas NYM Natgas

Contract

Open

High

Low

JUL1

4299

4409

4299

AUG1

97.04

99.42

96.99

JUL1

189.5

189.8

182.5

AUG1

4.225

4.248

4.064

ENERGY

ENERGY MARKET WATCH

Close

Change

4359

59

98.4

-0.27

184.7

-5.4

4.155

0.022

% Chg 1.37

  • -

    0.27

  • -

    2.84

0.53

MARKET ROUNDUP

Crude oil ended 2 percent higher onThursday as data on better-than-expected private sector hiring, jobless claims and retail sales reports fueled hopes that economic growth was on the rebound.

IN FOCUS

Index

Close

Change

Exchange

Volume (in crores)

Clean Tanker Index

676

-2

MCX

52382.85

Dirty Tanker Index

752

-1

NCDEX

6457.78

INDICES

EXCHANGE VOLUME on previous close

Date

Time

Energy Data

Country

Prior

07Jul

8.00pm

Crude Stock

U.S.

-4.375

07Jul

8.00pm

Gasoline Stock

U.S.

-1.428

07Jul

8.00pm

Distillate Stock

U.S.

0.258

07Jul

8.00pm

Refinery Utilisation

U.S.

-1.1

07Jul

8.00pm

Stocks at Cushing Oklahama

U.S.

-0.542

07Jul

8.00pm

Natural Gas Inventory

U.S.

78

Consensus

Actual

-2.300

-0.889

0.100

-0.634

0.700

-0.191

0.300

-0.460

80

95

ENERGY INDICATORS

FUNDAMENTAL OUTLOOK

  • U.S. crude and oil product stocks posted modest declines last week as a boost in refinery utilization was offset by a rise in crude imports, U.S. Energy Information Administration data showed Thursday.

  • Local residents demanding better services ended a two-day blockade onThursday of Argentina's second-biggest oil refinery, operated by Royal Dutch Shell, a Coast Guard official said.

  • South Sudan has talked to Toyota Kenya about the possibility of linking to a proposed regional oil corridor to help export crude from fields far from the north, a southern energy official said onThursday.

Crude oil is trading lower on NYMEX today.We expect prices to remain under pressure as further we have U.S. job report for insight into the pace of economic recovery of the world's biggest oil consumer.

South African unions on Thursday threatened strike action in the coal mining sector and against the world's top platinum producer, moves that may threaten the country's exports to resource-hungry Asia.

Libya's government has begun negotiations with Russian and Chinese energy firms on taking over ENI's projects in Libya after the Italian firm withdrew its staff, a senior Libyan government official said.

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Commodity Outlook

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