Gasoline Market Update : Epic Research Singapore

Gasoline supplies edged down by 100,000 barrels, while distillate stockpiles fell 1.6 million barrels last week, according to the EIA.

August gasoline RBQ6, +0.57%  fell 7 cents, or 4.9%, to $1.363 a gallon, while August heating oil HOQ6, +0.67%  declined by 6.1 cents, or 4.1%, to $1.411 a gallon.

July natural gas NGQ16, -0.90%  fell less than a penny, or 0.3%, to $2.777 per million British thermal units after tapping a high of $2.841.

The five-year average increase is 77 billion cubic feet, according to Williams. “We are still well above the five-year average of gas in storage but are converging toward the norm every week [with] high use by power companies and a little decline in production.”

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Oil Market Update : Epic Research Singapore

Oil futures dropped by nearly 5% Thursday to settle at their lowest level in two months after U.S. government data showed a smaller-than-expected weekly decline in crude-oil inventories.

That, combined with ongoing worries about a potential slowdown in energy demand, pulled prices sharply lower even though the data also revealed a seventh-straight weekly fall for crude stockpiles and a sizable drop in daily domestic oil production.

Natural-gas futures, meanwhile, tracked oil’s move lower. They pulled back from an earlier rally fueled by a weekly climb in U.S. supplies that came in under market expectations and was roughly half the average increase for this time of year.

August West Texas Intermediate crude CLQ6, +0.89%  fell $2.29, or 4.8%, to settle at $45.14 a barrel on the New York Mercantile Exchange, after climbing 1.8% a day earlier. Prices, which were trading at $47.85 before the supply data, saw their lowest finish since May 10, according to FactSet.

Brent crude LCOU6, +1.06% lost $2.40, or 4.9%, to $46.40 a barrel on London’s ICE Futures exchange, also ending at a two-month low.

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Copper Market Update : Epic Research Singapore

Other metals finished on a mixed note. September copper HGU6, -0.26%  lost 3 cents, or 1.4%, to $2.124 a pound, but October platinum PLV6, -0.59%  rose $3.80, or 0.4%, to $1,095.10 an ounce and September palladium PAU6, -0.74%  ended at $612.35 an ounce, up $4.80, or 0.8%.

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Oil Market Update : Epic Research Singapore

Oil futures settled higher Wednesday as support from some softening of in the dollar and expectations for a seventh-straight weekly decline in U.S. crude inventories offset pressure from a potential slowdown in fuel demand.

Crude oil for August delivery CLQ6, +0.44%  rose 83 cents, or 1.8%, to settle at $47.43 a barrel on the New York Mercantile Exchange. Prices, which had touched a low of $45.92 early Wednesday, had marked its lowest settlement since June 27 on Tuesday, according to FactSet data. Brent oil for September LCOU6, +0.35%  added 84 cents, or 1.8%, to $48.80 a barrel on the ICE Futures exchange in London.

August futures prices for gasoline RBQ6, +1.27%  added less than half a cent to $1.433 a gallon, after sinking 5.6% a day earlier. August heating oil HOQ6, +0.76%  settled up 2.6 cents, or 1.8%, at $1.471 a gallon.

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Silver Market Update : Epic Research Singapore

On Wednesday, September silver SIU6, +0.01%  settled at $20.203 per ounce, up 29.6 cents or 1.5%, after tapping a high of $20.585.

Among other metals on Comex, September copper HGU6, +0.28%  edged down by 3 cents, or 1.4%, to $2.154 a pound. October platinum PLV6, +0.04%  tacked on $14.40, or 1.3%, to $1,091.30 an ounce and September palladium PAU6, +0.14%  rose $4.90, or 0.8%, to $607.55 an ounce.

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Natural Gas Market Update : Epic Research Singapore

Elsewhere in the energy space on Monday, natural gas NGQ16, -2.51%  slumped 2.6% to $2.91 per million British thermal unit, easing back from its highest close since May 2015 reached on Friday.

Gasoline RBQ6, -1.68%  on Monday was flat around $1.51 a gallon, while heating oil gained 0.5% to $1.52 a gallon.

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Oil Market Update : Epic Research Singapore

Oil prices rose in choppy trade on Monday after Saudi Arabia’s energy minister said the global oil market is heading toward balance, and more attacks in Nigeria were seen as curbing the country’s oil production.

Futures for crude oil CLQ6, -1.33%  gained 21 cents, or 0.5%, to $49.21 a barrel, while Brent LCOU6, -0.82%  advanced 24 cents, or 0.5%, to $50.59 a barrel.

There will be no settlement of U.S. West Texas Intermediate futures on Monday, as U.S. markets are closed for the Independence Day holiday. Electronic trade ends at 1 p.m. Eastern Time.

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Silver Market Update : Epic Research Singapore

Silver futures logged their largest weekly climb since 2013 Friday, hitting a nearly 22-month high as the U.S. dollar softened and investors continued to search for safety.

Precious metals have benefited from worries sparked by the U.K.’s decision to exit the European Union, dubbed Brexit. But precious metals have also seen somewhat of a pull back as appetite for risk lured buyers back into stocks over the past few sessions.

September silver SIU6, +6.62%  jumped 96.5 cents, or 5.2%, to settle at $19.588 an ounce. Prices haven’t settled at a level this high since mid-August 2014. Futures prices saw a 10.1% weekly gain—the largest since August 2013, according to FactSet.

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Gasoline Market Update : Epic Research Singapore

On Nymex, August gasoline RBQ6, +1.31%  rose 1.2 cents, or 0.8%, to $1.514 a gallon, but with prices down about 1.3% for the week. August heating oil HOQ6, +2.16%  added 2.3 cents, or 1.5%, to $1.512 a gallon, closing up 2.9% for the week.

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Oil Market Update : Epic Research Singapore

Meanwhile, oil futures managed to finish higher after data Friday showed that the number of U.S. rigs drilling for oil climbed for a fourth week in five.

August West Texas Intermediate crude CLQ6, +1.97%  added 66 cents, or 1.4%, to settle at $48.99 a barrel on the New York Mercantile Exchange—roughly 2.8% higher for the week. Prices posted losses in each of the last two weeks but ended the second quarter with a gain of about 26%.

September Brent crude LCOU6, +1.69% in its first full session as a front-month contract, climbed 64 cents, or 1.3%, to $50.35 a barrel on London’s ICE Futures exchange Friday. Prices based on the most-active contracts were up about 4% for the week.

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Natural Gas Market Update : Epic Research Singapore

Natural-gas futures on Friday notched their highest close since May 2015 as traders bet that warmer weather will help to ease a glut of supplies in the U.S.

Oil futures, meanwhile, settled higher to tally their first weekly gain in three weeks. Prices found support from some upbeat U.S. economic data and a sixth-straight weekly decline in domestic crude inventories despite a weekly climb in the number of U.S. rigs drilling for oil.

August natural gas NGQ16, +2.12%  rose 6.3 cents, or 2.2%, to settle at $2.987 per million British thermal units on the New York Mercantile Exchange. The settlement was the best since May 18, 2015.

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Natural Gas Market Update : Epic Research Singapore

Natural-gas futures, meanwhile, finished higher after the U.S. Energy Information Administration reported Thursday that supplies of the commodity rose 37 billion cubic feet for the week ended June 24.

That was below the average rise of 46 billion cubic feet expected by analysts polled by S&P Global Platts, but the data also included a downward “reclassification” to stocks in the Pacific region.

August natural gas NGQ16, +0.55%  ended at $2.924 per million British thermal units, up 6.1 cents, or 2.1%. Prices are up 25.1% year to date, after surging over 49% for the second quarter.

On Nymex, oil-product prices ended broadly lower on the expiration day of the July contracts. July reformulated gasoline RBN6, -2.63%  fell 2.3 cents, or 1.5%, to $1.501 a gallon and July heating oil HON6, -4.40%  fell 4.9 cents, or 3.2%, to $1.485 a gallon. Year to date, gasoline futures have gained 18.5%, while heating oil has rallied by 34.9%.

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Oil Market Update : Epic Research Singapore

Oil futures ended lower on Thursday, a day after posting their biggest single-session gain since April, but prices still logged their strongest quarterly gain since mid-2009.

Output disruptions in Canada due to wildfires in May and strong demand for gasoline have helped to draw down supplies of U.S. crude oil, which posted declines in each of the past six weeks. Traders, however, have been concerned about a potential slowdown in energy demand in the wake of the U.K.’s vote to leave the European Union, a.k.a. Brexit, and a likely recovery in global output levels.

August West Texas Intermediate crude CLQ6, +0.62%  fell $1.55, or 3.1%, to settle at $48.33 a barrel on the New York Mercantile Exchange.

August Brent crude LCOQ6, -1.76% which expired at the settlement, fell 93 cents, or 1.8%, to $49.68 a barrel. Futures prices have gained 25.5% for the quarter, with the year-to-date gain at 33.3%.

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Copper Market Update : Epic Research Singapore

In other trading, September copper HGU6, -0.16%  added a penny, or 0.4%, to $2.196 a pound, with prices about 2.8% higher year to date.

October platinum PLV6, +0.94%  added $10.80, or 1.1%, at $1,024.30 an ounce, with the yearly gain for prices at nearly 15%, while September palladium PAU6, +0.76% rose $6.80, or 1.2%, to $597.35 an ounce—up over 6% for the year so far.

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil prices pushed higher in European trade on Wednesday, extending overnight gains, amid speculation weekly supply data due later in the session will show U.S. crude inventories fell at a faster pace than expected last week.The U.S. Energy Information Administration will release its weekly report on oil supplies at 14:30GMT, or 10:30AM ET, amid expectations for a drop of 2.4 million barrels.

• Gold prices were higher in European trade on Wednesday, bouncing back from the prior session’s losses as market players all but ruled out further rate hikes by the Federal Reserve this year in the aftermath of Britain’s shock vote to leave the EU.Gold for August delivery on the Comex division of the New York Mercantile Exchange tacked on $5.30, or 0.4%, to trade at $1,323.20 a troy ounce by 06:45GMT, or 2:45AM ET.

• Nickel futures were trading lower by nearly 0.83 per cent during the afternoon trade in the domestic market on Wednesday as speculators reduced their exposure tracking a weak trend at the domestic spot markets on low demand. The fall in nickel prices was mostly in tune with a weak trend at the domestic spot markets due to muted demand from alloy-makers but a firm trend in base metals at the LME restricted losses.

TRADING STRATEGY :
BUY GOLD ABOVE 1321.5 TARGET 1326.5 1332.5 SL 1316.5
SELL GOLD BELOW 1315.5 TARGET 1310.5 1304.5 SL 1320.5

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Gasoline Market Update : Epic Research Singapore

On Nymex, July gasoline RBN6, -0.28%  rose 1.5 cents, or 1%, to $1.525 a gallon, while July heating oil HON6, +3.53%  added 6.2 cents, or 4.2%, to $1.534 a gallon.

Natural-gas futures, meanwhile, moved lower Wednesday, with the August contract NGQ16, +0.17% on its first full day as a front-month contract, settling at $2.863 per million British thermal units, down 2.7 cents, or 0.9%, after a 5.4% rally a day earlier.

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Oil Market Update : Epic Research Singapore

Oil futures settled with a gain of more than 4% after U.S. government data revealed a sixth straight weekly decline in domestic crude supplies.

August West Texas Intermediate crude CLQ6, -0.92%  ended the session at $49.88 a barrel, up $2.03, or 4.2%, on the New York Mercantile Exchange. Based on the most-active contracts, prices are trading more than 34% higher year to date.

August Brent crude LCOQ6, -1.17%  on London’s ICE Futures exchange rose $2.03, or 4.2%, to $50.61 a barrel, with prices up more than 36% for the year so far.

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Copper Market Update : Epic Research Singapore

Other metals ended broadly higher on Comex. September copper HGU6, +0.32%  added 1.1 cents, or 0.5%, to $2.186 a pound.

October platinum PLV6, -0.44%  finished at $1,013.50 an ounce, up $32.90, or 3.4%—for their highest finish since May 20. September palladium PAU6, +0.16%  rose $20.60, or 3.6%, to $590.55 an ounce.

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Gasoline Market Update : Epic Research Singapore

On Nymex, July gasoline RBN6, +0.17%  tacked on 3.3 cents, or 2.3%, to $1.51 a gallon and July heating oil HON6, +0.82% added 4.2 cents, or 2.9%, to $1.471 a gallon.

Natural-gas futures rallied, with the July contract for natural gas NGN16, +7.51%  , which expired at the settlement, jumping 20.1 cents, or 7.4%, to $2.917 per million British thermal units. That was the highest settlement since August 2015, according to data from Dow Jones.

The new front-month contract August natural gas NGQ16, -0.66% tacked on 14.9 cents, or 5.4%, to $2.89.

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Oil Market Update : Epic Research Singapore

Oil futures finished higher for the first time in three sessions on Tuesday, rebounding from a Brexit-fueled selloff that sent crude futures to a seven-week low on concerns of a slowdown in the global economy.

The threat of a union strike by Norwegian oil-and-gas workers and weakness in the U.S. dollar also provided support to prices.

Natural-gas prices, meanwhile, got a weather-related boost, with volatility tied to expiration of the July futures contracts, which rallied by more than 7%, helping to exacerbate the move.

August West Texas Intermediate crude CLQ6, +0.79%  climbed $1.52, or 3.3%, to settle at $47.85 a barrel on the New York Mercantile Exchange, while August Brent crude LCOQ6, +0.64%  gained $1.42, or 3%, to $48.58 a barrel.

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