Crude Oil
Crude has gained 1.2 percent this year and was trading at $99.57 Commodity Weather Group LLC in Bethesda, Maryland, said December through February was the coldest for that period in the lower 48 states since the winter of 1981-1982, based on energy-weighted heating degree days, a measure of weather-driven demand. Gas consumption in January was the highest on record at 104 billion cubic feet a day, according to the EIA. About 49 percent of U.S. households use gas for heating. Stockpiles may rise to 3.422 trillion cubic feet by late October, 11 percent below last year’s total for the period, before cool weather sparks use for heating, EIA forecasts show. To reach that level, storage must be replenished at a record pace, with almost 2.6 trillion added in the next six months.
Gold
Gold imports by China may drop after the Yuan fell, signaling contrasting outlooks for the two largest users. when Asia’s largest economy increased purchases to more than 1,000 metric tons The two countries accounted for more than half of global demand last year. While bullion has rebounded after slumping in 2013, Goldman Sachs Group Inc. is among banks forecasting a resumption of declines as the Federal Reserve winds back stimulus. Gold held declines after the Federal Reserve reduced monthly bond-buying and said it would continue trimming the pace of asset purchases amid U.S. economic growth.. Gold fell to 1285.
