Oil And Gold Analysis: Crude Settled At $94.00 A Barrel
ICM Brokers | Nov 20, 2013 04:37AM ET
CL
Crude rebounded from a five-month low before a report projected to show that U.S. refineries bolstered operations as they ended seasonal maintenance. Crude rose 0.3 percent. An Energy Information Administration report will probably say that refineries utilized 89.2 percent of capacity last week, up 0.5 percentage point from Nov. 8, Crude supplies gained a ninth week in the poll. Talks between Iran and the five permanent members of the United Nations Security Council plus Germany will resume tomorrow in Geneva. Crude rose to settle at $94.00 a barrel.
GOLD
Gold was little changed as the dollar’s drop boosted demand for the metal as an alternative asset, The dollar is helping gold,” Dean Popplewell, a currency analyst at Toronto-based Oanda Corp., said in a telephone interview. “The timing of the tapering will continue to be the guiding force. Trading in gold fell to an average 18.5 million ounces in September from 22.2 million in August, the London Bullion Market Association said in an Oct. 31 report posted on its website. Gold advanced 0.1 percent to settle at $1,275.00 an ounce.
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