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Saturday, May 7, 2011

oil price, gold prices, silver prices, copper prices, Cotton prices commodity prices news today may 7 2011

oil price, gold prices, silver prices, copper prices, Cotton prices commodity prices news today may 7 2011 ; The S&P 500 pared this year’s gain to 6.6 percent. Selling swept commodities markets as investors sold positions following gains of more than 23 percent in 2011 through April 29 by silver, oil, gasoline, coffee and cotton. The S&P 500 had closed at the highest level since June 2008 on April 29. This year’s gains have been helped by earnings-per-share that beat estimates at 72 percent of the 417 S&P 500 companies that reported results since April 11, Bloomberg data show.

Oil futures retreated 15 percent to a seven-week low of $97.18 a barrel in New York after the death of al-Qaeda leader bin Laden, a worse-than-estimated report on U.S. service industries and growing American inventories. Silver contracts retreated 27 percent, the biggest weekly slump since at least 1975, after CME Group Inc. increased margin requirements, making it more expensive for speculators to trade.

Energy stocks in the S&P 500 sank 7 percent, the biggest loss among 10 industries and the largest retreat for the group since May 2010. Metal, chemical and agricultural commodity companies slumped 3.8 percent.

oil price, gold prices, silver prices, copper prices, Cotton prices commodity prices news today may 7 2011.

Oil prices fall again: Is commodities boom ending?
Rising oil prices have been part of a surge for commodities like gold and silver. The drop in oil prices this week suggests that that surge might be ending. Read More...

U.S. Stocks Retreat Most Since March After Global Commodity Prices Slump
U.S. stocks fell this week, sending the Standard & Poor’s 500 Index to the biggest drop since March, as the largest commodities slump in two years drove down energy and raw-materials producers as well as Caterpillar Inc. (CAT) Read More...

Oil and silver routed in commodity sell-off
oil price has fallen below $US100 a barrel as signs emerge that the recent spike in prices has resulted in a drop-off in demand. Oil crashed 8.6 per cent to $US99.80 overnight on Thursday, leaving it $US10 a barrel short of its April monthly average, but still well ahead of the $US84 average in April last year. Read More...

Sharp drop in crude oil prices could lead to cheaper gas
By Gary Richards Gas prices in California could tumble 25 cents or more by summer, back down to the magical $4 level, analysts said Friday on the heels of the biggest weekly decline in crude oil prices in two and a half years.. Read More...

Crude Dropped in a Series of Mini 'Flash Crashes
The oil market's nearly 15% plunge this week was sparked by a series of small, computerized flash crashes. Thursday's stunning decline in oil prices, which began early in the trading session and snowballed as the day went on, ...Read More...

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