{"id":15253,"date":"2012-10-05T05:31:54","date_gmt":"2012-10-05T03:31:54","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/commodities-oil-up-on-turkish-strikes-others-on-bargain-hunting\/"},"modified":"2012-10-05T05:31:54","modified_gmt":"2012-10-05T03:31:54","slug":"commodities-oil-up-on-turkish-strikes-others-on-bargain-hunting","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/commodities-oil-up-on-turkish-strikes-others-on-bargain-hunting\/","title":{"rendered":"COMMODITIES-Oil up on Turkish strikes, others on bargain-hunting"},"content":{"rendered":"<p>\t\t<!--[if IE]&gt; div#resizeableText { overflow-x:auto; overflow-y:hidden; } &lt;![endif]--><\/p>\n<p>\t\t<span><\/span><\/p>\n<pre>* Oil rebounds from 3-day loss after Turkey's strike on\nSyria\n    * Run-up on Wall Street stocks boost energy, metals\n    * Soybeans jump after USDA puts exports at 3-month high\n\n\n    By Barani Krishnan\n    NEW YORK, Oct 4 (Reuters) - Oil rebounded on Thursday from\nthree days of losses after Turkey's retaliatory strikes on\nSyria, and soybeans and metals also posted strong gains from\nbargain hunting in markets cheapened by selling earlier this\nweek.\n    Higher share prices on Wall Street on data suggesting an\nimprovement in the U.S. labor market - ahead of Friday's\nall-important jobs report - gave a further boost to industrial\ncommodities such as energy and metals.\n    The dollar dropped to a two-week low against the euro\n, providing more support to dollar-denominated raw\nmaterials, after the European Central Bank said everything was\nin place for it to buy bonds of troubled member countries and\nthat conditions linked to such buys need not be punitive. \n    Commodities did pare some gains after minutes from the\nFederal Reserve's September meeting said the Fed may adopt\nnumerical thresholds for inflation and joblessness that would\nserve as guideposts for policy. \n    Even so, the Thomson Reuters-Jefferies CRB index,\na commodities bellwether, settled up nearly 1.3 percent.\nThirteen of the 19 markets tracked by the CRB rose, with heating\noil, light crude and gasoline up between 3 and 4 percent and\naluminum leading gains with a 5 percent jump.\n    In some ways, the run-up added to already hefty gains this\nweek in soft commodities such as sugar, prompting analysts to\nraise a mild caution. Raw sugar has been one of the best\nperformers among commodities since the fourth quarter began, up\nby just over 10 percent and hitting a two-month high.\n    \"We suspect we are nearing resistance levels, but do not\ndiscount a couple of days of further strength as funds continue\nto cover,\" Sucden Financial analyst Nick Penney said, referring\nto raw sugar.\n    Oil prices rose by 4 percent in Thursday's session as Turkey\nstepped up retaliatory artillery strikes on a Syrian border\ntown, while its parliament approved further military action if\nthere is more spillover from Syria's internal conflict.\n \n    A fire that broke out Wednesday at Exxon Mobil Corp's\n refining and chemical complex in Baytown, Texas, also\nboosted crude prices. The refinery is the largest operating in\nthe United States. \n    London's benchmark Brent crude settled at $112.58 a barrel,\nup $4.41. New York-traded U.S. crude gained $3.57 to finish at\n$91.71.\n    Chicago-traded soybean futures rose for a second straight\nday, climbing nearly 2 percent as end-users and investors hunted\nfor bargains the day after prices hit a three-month low. Corn\nand wheat prices rose in sympathy. \n    The rebound came after the U.S. Department of Agriculture\nsaid export sales of soybeans last week jumped to the highest\nlevel in three months, renewing worries about thinning supplies\nand the need to ration demand.\n    The front-month soy contract on the Chicago Board of Trade,\nNovember, settled up 1.3 percent, or 19-3\/4 cents, at\n$15.51-1\/2 a bushel. \n    The contract is down from a record high of nearly $17.70 a\nbushel set a month ago during a powerful rally sparked by\nconcerns of massive crop destruction from a drought in the U.S.\nMidwest. Recent data from the government suggests that crop\ndamage may not have been as bad as feared.\n    \n Prices at 2:12 p.m. EDT (1812 GMT)                        \n \n                              LAST      NET    PCT     YTD\n                                        CHG    CHG     CHG\n US crude                    91.44     3.30   3.7%   -7.5%\n Brent crude                111.78     3.61   3.3%    4.1%\n Natural gas                 3.449    0.055   1.6%   15.4%\n \n US gold                   1791.70    11.90   0.7%   14.4%\n Gold                      1789.30    11.91   0.7%   14.4%\n US Copper                  378.55     0.15   0.0%   10.2%\n LME Copper                8315.00    25.00   0.3%    9.4%\n Dollar                     79.371   -0.594  -0.7%   -1.0%\n \n \n US corn                    762.25     4.75   0.6%   17.9%\n US soybeans               1554.25    22.00   1.4%   29.7%\n US wheat                   884.00     0.00   0.0%   35.4%\n \n US Coffee                  174.80    -6.25  -3.5%  -23.4%\n US Cocoa                  2407.00    -9.00  -0.4%   14.1%\n US Sugar                    21.65     0.07   0.3%   -6.8%\n \n US silver                  34.960    0.270   0.8%   25.2%\n US platinum               1719.00    28.70   1.7%   22.4%\n US palladium               673.30    15.40   2.3%    2.6%<\/pre>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Oil rebounds from 3-day loss after Turkey&#8217;s strike on Syria * Run-up on Wall Street stocks boost energy, metals * Soybeans jump after USDA puts exports at 3-month high By Barani Krishnan NEW YORK, Oct 4 (Reuters) &#8211; Oil rebounded on Thursday from three days of losses after Turkey&#8217;s retaliatory strikes on Syria, and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15253","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15253"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15253\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}