Commodities News Update
Miller Petroleum reports jump in fiscal earnings (AP)30 Jul 2010 at 12:50pm
Miller Petroleum Inc. said Friday its fiscal 2010 profit soared due to a one-time gain from the acquisition of Alaskan assets.
The Struggles of the ELEMENTS Long-Short Commodities ETF (at Seeking Alpha)
30 Jul 2010 at 12:32pm
Coffee surges on poor Colombian harvests (at Financial Times)
30 Jul 2010 at 12:25pm
Coffee prices on Friday hit their highest level in 12 years on the back of low availability of premium Arabica coffee from key producer Colombia, after a string of disappointing crops in the Latin American country.
Nigeria to push through oil sector reform (at Financial Times)
30 Jul 2010 at 12:20pm
Nigeria s parliament is poised to adopt legislation aimed at transforming the country s troubled oil and gas industry and will delay a parliamentary recess in August to see it through, the country s oil minister told the Financial Times.
Metals Stocks: Gold climbs on inflation fears, bargain hunting (at MarketWatch)
30 Jul 2010 at 12:09pm
Gold contracts strengthen as prospects that China s growth could bolster global inflation pushed investors to snap up the metal at recently lowered prices.
Commodity Prices Show Sideways Action (at Seeking Alpha)
30 Jul 2010 at 11:36am
Mining losses erode London s July rally (at Financial Times)
30 Jul 2010 at 11:20am
The rally on London s equities market continued to falter on Friday, with losses for heavily-weighted mining stocks as traders looked through US economic data.
Futures Movers: Oil futures under $78 a barrel after economic data (at Market...
30 Jul 2010 at 11:08am
Crude oil prices slid below $78 a barrel Friday after new data showed that the U.S. economy is growing at a slower rate, signaling less future demand for oil products.
Metals Stocks: Gold climbs on inflation fears, bargain prices (at MarketWatch)
30 Jul 2010 at 10:42am
Gold strengthen Friday as prospects that China s growth could bolster global inflation pushed investors to snap up the metal at recently lowered prices.
Grains futures, livestock prices mostly rise (AP)
30 Jul 2010 at 10:01am
Grains futures traded mostly higher Friday on the Chicago Board of Trade. Wheat for September delivery rose 12 cents to $6.395 a bushel; September corn added 5.25 cents to $3.845 a bushel; September oats were flat at $2.615 a bushel; and soybeans for November delivery added 11 cents to $9.99 a bushel.
Gold prices recover after U.S. economic data (at MarketWatch)
30 Jul 2010 at 9:12am
Gold prices found more solid footing Friday after reports showed that Midwestern manufacturing increased more than expected in July, and consumer sentiment was revised to 67.8 in July.
Big Bullish Bet on Natural Gas (at CNBC)
30 Jul 2010 at 8:56am
A large trader turned bullish on Ultra Petroleum late Thursday ahead of its earnings report Friday morning. OptionMonster s real-time systems detected a single print of 8,000 August 45 calls bought for $1.15.
Gold Prices Down After Earlier Pop (TheStreet.com)
30 Jul 2010 at 8:55am
Gold prices have retreated from an earlier gain Friday morning.
Summary Box: Arch reverses 2Q loss, ups outlook (AP)
30 Jul 2010 at 8:39am
THE COMPANY: St. Louis-based Arch Coal Inc., one of the world s biggest coal producers, fuels about 8 percent of all U.S. electrical generation.
Metals Stocks: Gold rises after U.S. growth report (at MarketWatch)
30 Jul 2010 at 8:31am
Gold prices added to gains Friday after the release of disappointing U.S. growth figures for the second-quarter but the advance remained capped by waning demand for the precious metal as a safe-haven against currency depreciation.
Futures Movers: Oil falls further under $78 a barrel after GDP (at MarketWatch)
30 Jul 2010 at 7:59am
Oil prices lapsed further under $78 a barrel on Friday after a report showed U.S. economic growth slowed in the second quarter and after data earlier in the week showing an increase in U.S. oil supply.
Chevron net income triples to $5.4 billion (at MarketWatch)
30 Jul 2010 at 7:42am
Chevron said Friday its second-quarter net income tripled to $5.41 billion, or $2.70 a share, from $1.75 billion, or 87 cents a share, in the year-ago period. Revenue at the San Ramon, Calif. oil major rose to $53 billion, from $40.2 billion, boosted by higher prices for crude oil, natural gas and refined products such as jet fuel.
NYMEX-Crude slips on economic growth concerns (at Reuters)
30 Jul 2010 at 7:28am
Arch Coal s bottom line improves by $81 million (at MarketWatch)
30 Jul 2010 at 7:13am
Arch Coal Inc. said Friday it swung to second-quarter net income of $66.2 million, or 41 cents a share, from a net loss of $15.1 million, or 11 cents a share, in the year-ago period.
[$$] Exxon Mobil Is in Talks to Develop China Gas Field (at The Wall Street J...
30 Jul 2010 at 7:11am
Exxon in Talks on China Gas Field Exxon Mobil is in talks with PetroChina to jointly explore and develop an unconventional gas block in the Ordos basin in northern China.
Ulta Petroleum posts profit against year-ago loss (at MarketWatch)
30 Jul 2010 at 7:02am
Ultra Petroleum Corp. said Friday its second-quarter net income rose to $61.5 million, or 40 cents a share, from a loss of $25.5 million, or 17 cents a share, in the year-ago period.
Chicken producers debate natural label (AP)
30 Jul 2010 at 3:43am
A disagreement among poultry producers about whether chicken injected with salt, water and other ingredients can be promoted as natural has prompted federal officials to consider changing labeling guidelines.
Ultra Petroleum Draws Big Bullish Bet (at TheStreet.com)
30 Jul 2010 at 3:17am
A large trader turned bullish on Ultra Petroleum late Thursday ahead of the company s earnings report Friday.
Which Is Better, A Commodity Mutual Fund or an ETP? (at Seeking Alpha)
30 Jul 2010 at 12:52am
[$$] Vale Tightens Grip With Copper Bid (at The Wall Street Journal)
29 Jul 2010 at 7:04pm
Vale Tightens Grip With Copper Bid Brazilian mining giant Vale SA tightened its grip on the domestic metals market with a bid to acquire copper refiner Paranapanema SA. More from Deal Journal Metals, Mining Deals on the Rise