Commodities Update 19

Commodities Update 19

03 November 2015

Important legal information

WTI slipped 1.25 percent at the beginning of this week. Brent lost about 1.28 percent. Last Friday the American Energy Information Administration pushed crude oil prices by announcing that crude oil stocks increased less than expected. Additionally the American oil demand for last month increased by 1.0 percent compared to last year. WTI increased by 3 USD to 46 USD on Friday, the largest gain since three weeks.

Still oil-investors should keep in mind that oil exports from Iran might massively increase next year. The government in Teheran decided on investments that would double oil exports in the short-term.
Another element of uncertainty is the weak growth of the US-Economy. For the third quarter they announced a growth of 1.5 percent. The growth-rate decreased by 2.4 percent compared to the second quarter.

Gold lost some of its gains made in the last couple of weeks. On Monday, 2nd of November, it decreased to 1,134 USD – a four-weeks-low. According to market observers the probability that the Fed will increase interest rates in December rose to 50 percent, despite week growth rates.

Since the beginning of October cotton has continued its sideward trend. Prices move in between this year’s price margin of 0.576 and 0.683 USD. According to analysts from Morgan Stanley, prospects of cotton prices are neutral.
Reuters said that the deterioration of cotton harvest due to heavy rainfalls could have led to an increase of cotton prices of 1.6 percent last Friday.



02/10/2022 18:55:33