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Analytics, News, and Forecasts for CFD Markets: raw news — 16-05-2014.
Brent crude headed for its first weekly advance this
month amid speculation that escalating tension in Ukraine may disrupt supplies
from Russia, the world’s biggest energy exporter. West Texas Intermediate was
set for a second weekly gain after Cushing stockpiles fell.
Futures were little changed in London and are up 1.4
percent this week. Ukrainian forces moved to flush separatists from their
eastern holdouts as diplomats from the U.S. and U.K. vowed to punish Russia
with industry-wide sanctions if this month’s presidential election is
undermined. Global demand for OPEC’s crude will be stronger in the second half
of 2014 than previously estimated, the International Energy Agency said
yesterday.
“In the run up to the elections next week the tensions
will continue,” Eugen Weinberg, head of commodities research at Commerzbank AG
in Frankfurt, said by e-mail. “Even after the presidential elections it’s
unlikely to calm down. So this factor of instability is likely to stay.”
Brent for July settlement was 32 cents higher at
$109.41 a barrel on the London-based ICE Futures Europe exchange at 12:35 p.m.
London time. The volume of all futures traded was about 29 percent above the
100-day average for the time of day. The June contract expired yesterday after
climbing 25 cents to $110.44.
WTI for June delivery rose 21 cents to $101.71 a
barrel in electronic trading on the New York Mercantile Exchange. Prices have
gained 1.8 percent this week. The U.S. benchmark crude’s July contract was at a
discount of $8.09 to Brent on ICE.
Gold cheaper second consecutive day , as strong data on the U.S. housing market have strengthened confidence in the world 's largest economy and weakened demand for safe assets .
Data from the Ministry of Commerce showed that at the end of last month, the volume of housing starts rose again , thereby exceeded the forecasts of experts , which is a sign of recovery after winter deterioration.
According to the report , the seasonally adjusted bookmarks new housing rose in April by 13.2 % - to the level of 1.07 million units ( the highest value in the last five months). This sharp increase was due to a big jump multifamily housing buildings ( about 43 %). Construction of single-family housing , meanwhile, rose by only 0.8 %. Compared with last year, housing starts rose by 26.4% . It was also reported that the number of building permits in April increased by 8% compared with the previous month , reaching 1.08 million units. Economists forecast that the tabs homes increase to 980 000, and the number of permits will rise to 1.01 million units.
Recent results indicate that the builders anticipate improved prospects after the recession earlier in the year. Many economists in the housing industry and beyond also believe that the market will recover , albeit at a slower pace than other sectors of the economy.
The cost of the June gold futures on the COMEX today dropped to $ 1287.70 .
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