Commodities: Crude up 2% as stocks steam ahead
Crude oil futures settled above $69 a barrel on Tuesday as a good batch of earnings drove US stocks ahead.Light crude oil for September delivery jumped $2.44 to settle at $69.19 a barrel on the New York Mercantile Exchange after hitting an earlier high of $69.58 a barrel.
Home Depot and Target both released results that were better than expected and gave investors a confidence boost after a two-day losing streak on Wall Street. Economic data on the housing market and producer prices disappointed but Tuesday’s session remained upbeat.
The dollar’s weakness also spurred demand for the black gold.
Traders are now looking ahead to key inventories data due out Wednesday that are expected to reveal an increase in crude supplies.
| Name | Price | 1 Day Change | 1 Day % Change | Units |
|---|---|---|---|---|
| Gold | $935.00 | +$2.25 | +0.24% | $/troy oz |
| Silver | $14.09 | -$0.04 | -0.28% | $/troy oz |
| Cattle | 156.58p | 0.000p | 0.00% | p/kg |
| Pigs | 154.42p | 0.000p | 0.00% | p/kg |
| Lamb | 148.96p | 0.000p | 0.00% | p/kg |
| Brent Crude | $71.59 | +$1.99 | +2.86% | $/barrel |
| Krugerrand | $969.70 | +$5.10 | +0.53% | $/troy oz |
| Palladium | $268.00 | -$3.00 | -1.11% | $/troy oz |
| Platinum | $1,221.00 | -$11.00 | -0.89% | $/troy oz |
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