World commodities – Newspaper – DAWN.COM

Stay on top with the latest news. Here you get som meat on the bones within commodities. Many of us are forex traders but more and more go over to commodities since the predictions seem to be easier in this political climate. Commodities are often traded in longer cycles than forex and can in some cases seem to be a safer bet. Be sure to know your neighbourhood before you walk the dog sort of speak. Long term the winner is always the king of knowledge. Information is power.

World commodities – Newspaper – DAWN.COM

IN the London market, oil prices edged higher last Thursday after the International Energy Agency said the market was nearing balance, while data showing higher US production kept gains in check.

Benchmark Brent crude futures were up 13 cents at $55.99/barrel at 1525GMT, on track for their third straight weekly gain after touching a one-month high on Wednesday. US West Texas Intermediate crude futures were up 22 cents at $53.33/barrel, also set for a third consecutive weekly gain.

The Paris-based IEA, which advises industrial nations on energy policy, said on Thursday supply and demand in the global oil market was close to matching after a fall in stockpiles in developed countries in March.

The market has been oversupplied for three years, prompting members of the Opec and some non-Opec producers to agree to cut output in the first six months of 2017 to rein in the glut. read more at dawn.com