• At 06:00 SAST today, Brent crude oil rose 0.1% to trade at $118.36/bl. The American Petroleum Institute and the US Energy Department would release their crude oil inventory data today and tomorrow, respectively, a day later due to the Presidents’ Day holiday on 18 February 2012. Meanwhile, according to a Bloomberg survey, crude oil stockpiles probably rose 2.00mn bl to 374.00mn bl last week. Yesterday, Brent crude oil fell 0.3% to settle at $118.25/bl.
  •  Yesterday, corn spot prices fell 0.4% to close at $7.07/bushel. Reports suggest that ethanol producing companies have cut output or idled plants due to higher corn costs.
  • At 06:00 SAST today, gold prices advanced 0.2% to trade at $1,608.85/oz, as investors keenly eye the Federal Reserve’s minutes of the last monetary policy meeting scheduled for release later today for hints on the probable timing of an exit from the current monetary stimulus. Yesterday, gold declined 0.3% to close at $1,605.05/oz.
  •  Yesterday, copper declined 0.9% to close at $8,015.75/mt. Aluminium closed 0.4% lower at $2,069.00/mt. Base metal prices dropped, amid worries about the demand for metals from the housing sector, following speculation that China might curb property purchases and after data showed an unexpected fall in the US homebuilder confidence in February.

Thank you Anchor Capital

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