http://www.fxstreet.com/fundamental/market-view/market-insights/http://www.fxstreet.com/fundamental/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-20.htmlDespite encouraging macroeconomic data, broad-based declines were seen in high-yield assets including commodities and equities. Investors worried that recent rallies have been overextended and have outpaced improvement in global economies. WTI crude oil plunged to -2.7% to settle at 77.46 after failing to test 80 while Comex gold slid to as low as 1130 before recovery. The benchmark contract ended the day at 1141.9, almost flat from the previous day. Released yesterday, the Philly Fed indexFri, 20 Nov 2009 03:54:18 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-20.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-19.htmlUSD tumbled against the euro (-0.5%) as weak housing starts and building permits triggered worries that the Fed will maintain its expansionary monetary policy for a long time. Weakness in USD boosted precious metals and COMEX gold made a new record again by soaring to as high as 1153.4. The benchmark contract finished the day at 1141.2, up +0.2%. US housing starts plunged -10.3% mom to 529K in October. The reading did not only miss market expectation of a modest increase to 598K but alsoThu, 19 Nov 2009 04:35:17 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-19.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-18.htmlCrude oil price climbed higher yesterday after the American Petroleum Institute reported huge decline in crude inventory last week. The benchmark contract added +0.3% to close 79.14. In Asian session today, price continues to edge higher but upside momentum decreases as price moves closer to 80. According to the industry-sponsored API, crude oil inventory drew -4.37 mmb to 333.1 mmb in the week ended November 13. The decline was significantly more market expectation of a drop of -2.2 mmbWed, 18 Nov 2009 04:49:22 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-18.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-17.htmlMarket sentiment was robust Monday as US' retail sales beat market expectation and world leaders declared to stimulus measures until economic recovery has gained a firm footing. Rallies in the commodity market were broad-based. WTI crude oil price surged +3.3% to settle at 78.9 after jumping to intra-day high of 79.43, Comex gold made a fresh record high as 1144.2 before closing the day ar 1139.2, up +2% from last Friday. Base metals also advanced with copper and lead gaining +5% to 6850 andTue, 17 Nov 2009 04:56:40 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-17.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-13.htmlCrude oil price plummeted to 76.52, the lowest in a month, Thursday as huge builds in crude and oil product inventories were bearish signs for demand recovery. The benchmark contract close -2.9% lower at 7.694 for the day. Today in Asia, the black gold extends yesterday's selloff and slides to as low as 76. According to the US Energy Department, crude inventory rose +1.76 mmb in the week ended November 6 with the Midwest leading the build. Oil inventory in that region surged +2.1 mmb of whichFri, 13 Nov 2009 04:44:04 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-13.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-12.htmlAlthough there were quite a number of energy-specific reports released yesterday, they failed to move oil price much as it was US and Canada holiday Wednesday. Price traded within a narrow range and bounced back whenever it touched the 80 level. The benchmark contract settled at 79.28, up +0.25%, for the day. The US Energy Department (EIA) revised slightly upward its forecasts on global energy demand for 2009 and 2010. World oil consumption is expected to drop -1.9% to 84.14M bpd, comparedThu, 12 Nov 2009 05:46:16 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-12.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-11.htmlAlthough crude oil once again breached 80 in NY session, increase in oil inventory pressured price and the benchmark contract settled at 79.05, down -0.5% for the day. According to the American Petroleum Institute, crude inventory surged +1.22 mmb to 337.5 mmb in the week ended November 6 as imports rebounded and refinery runs continued to slide. Both gasoline and distillate stockpiles also rose. Gasoline inventory increased +1.4 mmb while distillate stockpile soared +0.64 mmb despite modestWed, 11 Nov 2009 04:03:28 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-11.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-10.htmlCapitals flowed into the commodity market on Monday as world market leaders pledged to continue the stimulus measures. Crude oil price rose to an intra-day high of 80.19 in NY session but selling pressure above 80 was quite strong. The benchmark contract settled at 79.43, up +2.6%, for the day. The Chinese government raised ex-factory price of gasoline, diesel and jet fuel for the first time in 2 months in light of rally in crude oil price. According to the National Development and ReformTue, 10 Nov 2009 04:49:29 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-10.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-09.htmlCrude oil price rebounds to 78.3 after plummeting to as low as 76.71 last Friday. Storms have forced Petroleos Mexicanos to cut 90 wells at onshore fields in the western states of Veracruz and Tabasco. At the same time, news that Hurricane Ida has entered the southern Gulf also boosted oil price. In late October, Saudi Aramco, the state-owned company in Saudi Arabia, announced it would price it oil using ASCI instead of WTI starting from 2010. CEO Khalid Al-Falih said over the weekend thatMon, 09 Nov 2009 04:17:54 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-09.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-06.htmlCrude oil retreated for the first time in 4 days amid profit-taking. The benchmark contract slid -1% to close at 79.62. Others in the energy complex also slid with RBOB gasoline losing -1.2% and heating dropping -1.5%. Natural gas storage rose +29 bcf to 3788 bcf in the week ended October 30. Gas initially soared as the increase in inventory was smaller than consensus. Encouraging jobless claims and productivity data also helped boost price higher. However, price pared gains later as theFri, 06 Nov 2009 03:54:06 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-06.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-05.htmlOil price rose to as high as 81.06 after a report showed that crude inventory surprisingly drew more than -3mmb last week. Further decline in USD as the Fed kept its dovish stance also provided a favorable environment for oil prices' rally. However, investors remained uncomfortable as price surged above 80 and profit-taking was seen thereafter. The benchmark contract settled at 80.4, up +1%. Crude inventory declined -3.94 mmb in the week ended October 30 as imports fell sharply in the GulfThu, 05 Nov 2009 05:47:30 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-05.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-03.htmlStrength in gold returned as questions about health in US financial sectors triggered selloff in USD and uncertainty in stock market. On Monday, the benchmark contract for gold rose to an intra-day high of 1063.4 before closing at 1054, +1.3%. Today in Asia, the yellow metal extends the rally and trades at 1065. Test of the record high at 1072 is likely in the near-term. USD and Japanese yen dropped as US economic data beat expectations. The ISM manufacturing index rose to 55.7 (consensus: 53)Tue, 03 Nov 2009 04:21:07 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-03.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-02.htmlCrude oil remains weak in Asia Monday. Currently trading as 77.43, the benchmark contract initially dropped to a 2-week low of 76.56 as investors have turned risk-averse. Stock market in Asia slumped as an extension of decline in US market Friday. Should equities continue to fall, we will likely see oil price sliding below 75. A survey showed that OPEC's oil production increased to 28.76M bpd in October, the highest level in 10 months as members took advantage of high oil price. OPEC-11Mon, 02 Nov 2009 04:38:02 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-11-02.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-30.htmlBetter-than-expected US GDP growth boosted risk appetite again. Dow Jones Industrial Average and S&P 500 Index gained +2% and +2.3% respectively. Commodity prices rebounded with WTI crude oil rallying +3.1% to close at 79.87. Price briefly broke above 80 again (intra-day high 80.46). Oil products also surged with heating oil gaining +2.9% and RBOB gasoline rising +1.6%. Precious metals also soared amid weakness in USD. Comex gold rose +1.6% to 1046.4 while both silver and platinum climbedFri, 30 Oct 2009 05:07:43 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-30.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-29.htmlMassive selloff was seen in the energy complex with natural gas and RBOB gasoline being the worst performers. Natural gas sank -5.9% to 4.29 while gasoline slid -4.1% to 1.99 amid huge inventory builds. WTI and Brent crude oil plunged -2.6% to 77.46 and 75.86 respectively while heating oil dropped -2.8% to 2. The US oil inventory report was overall neutral but investors were disappointed by the large increase in gasoline stockpile (+1.62 mmb). Imports rose +0.11M bpd to 0.76M bpd following aThu, 29 Oct 2009 05:34:40 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-29.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-28.htmlWTI crude oil plunged to as low as 77.81 in NY session as consumer confidence disappointingly fell to 47.7 and USD rebounded against major currencies. The benchmark contract pared losses later the day and closed +1.11% higher at 79.95 as API report showing huge draws in oil stockpiles. Others in the energy complex also recovered after the sharp falls on Monday. Heating oil climbed +1.1% to 2.055 and RBOB gasoline added +1.8% to 2.0705. We had a light economic calendar yesterday but theWed, 28 Oct 2009 05:22:13 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-28.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-27.htmlCrude oil plummeted -2.3% to settle at 78.68 Monday (intra-day low: 77.97) as strong rebound in USD in NY session reduced appeals of commodity investments. Correction in US stock market with particularly weak financial sector diminished investors' risk appetite as strength in financial market is crucial for economic growth in the US. Specifically for the energy market, OPEC President's comment also weighed on prices. Apart from WTI crude oil, heating oil lost -2% while RBOB gasoline slidTue, 27 Oct 2009 04:46:19 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-27.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-26.htmlCrude oil price retreats below 80 in Asia Monday as investors take profit-taking after the 4-week rally. Price level above 80 doesn't seem to be justified as energy demand remains at low level despite recovery. Moreover, ceasefire in Nigeria eases concerns on supply disruption. Currently trading at 79.7, the benchmark contract should continue trading narrowly as there's not much data release today. The Movement for the Emancipation of the Niger Delta (MEND) announced an 'indefinite ceasefire'Mon, 26 Oct 2009 05:07:27 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-26.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-23.htmlCrude oil price moved without direction Thursday. After rallying to as high as 82, the benchmark contract pierced below 80 briefly and then rose again to settle at 81.19, -0.2%. Others in the energy market also retreated with both heating oil and gasoline losing 0.5% to 2.095 and 2.054 respectively. Energy prices traded with high volatility as potential increase in supply from OPEC has slightly damped investors' interest in crude while the bearish outlook on USD spurred demand for commodities.Fri, 23 Oct 2009 05:06:49 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-23.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-22.htmlCrude oil price rallied to as high as 82 after the EIA report showing modest build in crude stockpile and huge draw in gasoline stockpile. Moreover, investors felt safe to sell USD as the Fed will likely keep its policy rate low for a long while. The benchmark contract (December) ended the day +2.8% higher at 81.37. RBOB gasoline also jumped +3.3% while heating oil also gaining +2.8%. The inventory report by the US Energy Department (EIA) was much more bullish than the one by API. Total crudeThu, 22 Oct 2009 04:36:20 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-22.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-21.htmlCrude oil retreated as USD pared loss and industry report showed decent increase in stockpiles. Expired Tuesday, the November contract fell -0.7% to settle at 79.09 after rising to as high as 80.05, the highest level since Oct 14 2008. The most active December contract also plunged -1.1 to close at 79.12. Gold price initially rebounded to as high as 1069 but then met selling pressure amid USD's recovery and ease in inflation pressure (PPI). The benchmark contract finished the day at 1058.6,Wed, 21 Oct 2009 03:25:52 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-21.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-20.htmlDriven by advance in stock markets and decline in USD, crude oil surged +1.4% to settle at 79.61 Monday. Today in Asia, the benchmark contract extends recent rally and rises to as high as 80.05. Winning streaks in oil products persist. ROBA gasoline climbs for the 7th day and trades 1.993 while heating oil soars for the 9th day and trades at 2.057, the highest level in 11 months. Gold closed higher for the second day after a brief pullback last week. The benchmark contract closed +0.6% high atTue, 20 Oct 2009 04:53:12 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-20.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-19.htmlCrude oil's rally extends above 79.05 as market sentiment stays robust. Although USD recovers amid speculations that Eurozone officials may show concerns about euro's strength at a meeting today, it does not affect the bullishness on energy prices. While OPEC members do not think recent rally in price has been driven by shortage in supply, they warn regulators taking action to prevent excessive speculations. Currently trading at 78.7, WTI crude oil price has risen for 8 consecutive daysMon, 19 Oct 2009 05:12:12 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-19.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-16.htmlCrude oil price remains strong after jumping +3.2% to settle at 77.58 Thursday as the huge decline in gasoline inventory thrilled investors. Currently trading at 78, the benchmark contract has already rallied for a 7th consecutive day. We believe the rise will stabilize as price is entering overbought territory and investors should take profits. Others in the energy complex also advanced. Heating oil surged +4% to close at 2.018 while RBOB gasoline rose +4.7% to settle at 1.945. Crude oilFri, 16 Oct 2009 04:26:55 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-16.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-15.htmlCurrently trading at 75.9, WTI crude oil stays strong after surging +1.4% and closing above 75 (yesterday's close: 75.18) Wednesday. While weakness in USD was certainly a major driving force, better-than-expected inventory report from the industry-sponsored API further boosted speculations on improvement in energy demand. API reported that crude oil inventory dropped -0.17 mmb, compared with market expectation of an increase of +1.02 mmb, to 339.2 mmb in the week ended October 9. GasolineThu, 15 Oct 2009 04:57:15 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-15.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-14.htmlCrude oil extends strength and breaches the key resistance level of 75 as the OPEC upgraded its world energy demand forecast. WTI crude oil price surges to as high as 75.12 in Asian session, the highest level in almost a year, in Asia today after the +1.2% rally Tuesday. The benchmark contract has risen for 5 consecutive days. The OPEC revised up its forecast on world oil demand by +0.2M bpd to 84.24M bpd this year, representing a contraction of -1.4M bpd from 2008. In 2010, demand was alsoWed, 14 Oct 2009 05:24:43 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-14.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-13.htmlCrude oil price rallied to a 7-week high at 73.84 Monday as driven by strong equity market and weak USD. While market sentiment once again pushed oil closer to the key resistance of 75, stagnant fundamentals in energy market refrained price from an upside break. The benchmark contract eventually settled at 73.27, gaining +0.7% from last Friday's close. For fuel products, heating oil jumped +2.2% to a 7-week high as US Climate Prediction Centre forecasts temperatures in the Northeast andTue, 13 Oct 2009 04:49:54 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-13.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-12.htmlCrude oil rises to 72.15 in Asia Monday. However, trading volume is thin as Japan, US and Canada markets are closed on holidays today. Last Friday, Dow Jones Industrial Average climbed +4% to 9684.94 and S&P 500 rose +4.5% to 1071.49. Rallies in stock indices to 1-year high spurs interest in oil markets as investors anticipate recovery in energy market consumption. Despite the improved sentiment, crude oil price will continue to gyrate within recent trading of 65-75 until concrete evidenceMon, 12 Oct 2009 05:00:16 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-12.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-09.htmlGold price rallied to 1062.7 before settling at 1056.3, +1.1%, as USD plummeted and crude oil soared. The yellow metal retreats to 1049 in Asia Friday, the first decline after surging for 5 days. We believe a correction is warranted as recent rally might have been overextended. However, any pullback should be short-lived. We remain bullish on gold in the long-term. Investor Jim Rogers said that will not buy gold at current price as fundamentals do not support. However, he reiterated hisFri, 09 Oct 2009 04:46:25 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-09.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-08.htmlWTI crude oil plummeted after a 2-day rally as petroleum product inventories increased more than expected. The benchmark contract slid -1.8% to close at 69.57. Others in the energy complex also dropped with heating losing -1.7% and RBOB gasoline falling -2.8%. Crude inventory drew -0.98 mmb with declines seen mainly from the East Coast, Midwest and the Gulf Coast. Cushing stocks also fell -1.4 mmb during the week. Refinery runs were flat from the previous week and we expected to see reductionThu, 08 Oct 2009 04:58:12 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-08.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-07.htmlGold price set a new record high Tuesday amid USD's weakness and renewed inflation worries. The benchmark contract for the yellow metal breached the peak of 1033.9 made in March 2008 and surged to as high as 1045. Price eventually closed +2.2% higher at 1039.7. Others in the precious metal complex also strengthened with silver jumping +4.6% to 17.3 and platinum gaining +1.8% to 1025.3. USD tumbled Tuesday as RBA's rate hike heightened the rate differential concerns. Moreover, the dollar wasWed, 07 Oct 2009 04:32:26 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-07.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-06.htmlAfter weak trading earlier in the day, WTI crude oil rebounded strongly after release of better-than-expected US ISM non-manufacturing index. The front-month contract climbed +0.66% to settle at 70.41 with the intra-day high at 71. Advance in stock markets also lifted price. Gold price rallied to as high as 1018.9 before settling at 1017.8, +1.3%. Others in the precious metal complex also surged with silver rising +1.9% to 16.54 and platinum gaining +1.4% to 1301.8. The dollar's weaknessTue, 06 Oct 2009 04:35:59 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-06.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-05.htmlCrude oil trades below 70 in Asia Monday as Friday's employment data fueled concerns on economic recovery. Weakness in stock market despite renewed decline in USD suggests investors are refraining from taking risks for the moment. The MSCI Asia Pacific Index slides -0.4% today. In Japan, the Nikkei 225 Stock Average loses -0.1% to 9724. In Singapore, the Straits Times plunges -3% to 2583 while South Korea's KOSPI drops -1.5% to 1620. Asian equities are catching up the decline Friday after US'Mon, 05 Oct 2009 05:11:28 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-05.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-02.htmlAlthough crude oil added +0.3% to settle at 70.82 Thursday, trading momentum was weakened as the US reported a series of disappointing data. Investors worried that economic recovery might not come as expected and thus drove capital away from risky assets. US initial jobless claims increased to 551K in the week ended September 26 from 534K in the prior week. The market had anticipated a much more modest rise to 535K. After making a peak in March, initial jobless claims have dropped -18% in 26Fri, 02 Oct 2009 04:26:36 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-02.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-01.htmlCrude oil rallied +5.8% to settle at 70.61 Wednesday as gasoline stockpile surprisingly drew last week. Although the inventory data were mixed with crude inventory rising more than forecasts while distillate gaining modestly and gasoline drawing, the market rose higher.WTI time-spread's strengthening signals more draw at Cushing is underway. Others in the energy complex also surged with gasoline jumping +6% to 1.73 and heating oil adding +5.6% to 1.8. Crude oil inventory increased +2.8 mmb toThu, 01 Oct 2009 04:55:07 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-10-01.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-09-30.htmlThe energy complex ended the day with mixed performance. WTI crude oil rose to as high as 67.3 before pulling back and settling at 66.71, -0.2% as US consumer confidence index was worse than expected. The API inventory report showing crude builds further depressed oil price. For product prices, heating oil added +0.6% to 1.7 while RBOB gasoline dropped -0.6% to 1.63. US consumer confidence index by the Confederation fell to 53.1 in September from 54.5 in the prior month as the employmentWed, 30 Sep 2009 04:53:11 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-09-30.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-09-29.htmlDespite weakness in Asian session, crude oil price rebounded later in the day as Iran's missile tests might have escalated geopolitical tensions. Moreover, strength in stock markets also boosted commodities. WTI crude oil gained +1.2% to close at 66.84 while Brent crude edged +0.7% higher to65.54. Fuel price also recovered in sympathy with RBOB gasoline gaining +1.1% to 1.64 and heating adding +0.8% to 1.69. Last week, Iran's announcement that it has been building a second plant for enrichingTue, 29 Sep 2009 04:49:28 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-09-29.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-09-28.htmlAlthough still trading above 65, crude oil's near-term outlook remains weak as investors worry about energy consumption. Decline in stock prices in Asia market and rebound in USD exert additional pressure on commodities. Others in the energy complex extend further to the downside with RBOB gasoline and distillate trading at 1.61 and 1.67 respectively. Stock markets in Asia drop Monday in response to the worse-than-expected US durable goods orders reported last week. Moreover, strength inMon, 28 Sep 2009 04:41:45 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-09-28.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-09-25.htmlCrude oil's decline accelerated Thursday as weaker-than-expected home sales in the US spurred worries on recovery. Although buying interest emerged above 65, benchmark contract for WTI crude oil dropped -4.5% to settle at 65.89, the lowest in 2 months. On weekly basis, crude oil may drop around -8% after rising for 2 weeks. If that's the case, the decline would be the deepest since July. RBOB gasoline and heating oil also lost -4% to 1.64 and -4.4% to 1.68, respectively. Existing home salesFri, 25 Sep 2009 04:46:45 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-09-25.htmlhttp://www.fxstreet.com/fundamental/market-view/market-insights/2009-09-24.htmlCrude oil price fell to as low as 68.04 Wednesday after the US Energy Department reported huge builds in crude and gasoline inventory. The benchmark contract ended the day at 68.97, down -3.9%. Fuel products also got hammered with RBOB gasoline and heating oil losing -4.3% and -2.9% respectively. Natural gas price surged for a second day by +6.9% to 3.86 amid speculations that maintenance in nuclear plant may spur gas demand. The EIA reported +2.86 mmb increase in crude inventory which CushingThu, 24 Sep 2009 03:37:58 GMThttp://www.fxstreet.com/fundamental/market-view/contact@oilngold.com (Oil N' Gold)http://www.fxstreet.com/fundamental/market-view/market-insights/2009-09-24.html