- Natural Gas futures fell during noon trade in the domestic market on Friday as investors and speculators exited positions in the energy commodity after a bigger than expected increase in US crude stockpiles signaled a worsening supply glut. The EIA said that US crude inventories rose by 71 billion cubic feet in the week ended May 20 2016 above the 68 billion cubic feet increase expected by analysts.
- Silver futures were trading lower during late morning trade on Friday as investors and speculators resorted to a cautious stance amid rising speculation that the US Federal Reserve will lift interest rates in June or July dimming the lure for the bullion as a store of value.St. Louis Fed President James Bullard on Thursday said that financial markets are correctly reading the chances of June rate hike adding that a tighter labour market may exert upward pressure on inflation.
- Crude oil prices fell by 0.69 per cent on Friday as investors were worried that higher prices could reactivate shuttered crude output adding to global oversupply. Prices were also pressured by a strong greenback that was buoyed by generally positive US economic data amid growing expectations of a near-term rate hike. A stronger dollar reduced the appeal of the fuel as an alternative asset. Stronger greenback makes the fuel expensive for those holding other currencies thus reducing demand.
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