The commodities prices are inclining towards upward direction as the market is crawling to recover from the East Coast Hurricane Sandy. One of the major global indicators for commodities - CRB index had settled up by 0.4%, last day.

Regarding individual commodities, after the release of U.S. jobs and increased in US consumer confidence data and other related statistics showing expanding manufacturing activities at the world’s two largest economies: China and U.S.  The London’s three months copper contract has increased for third day and closed down at $7826 per tonne which is high by 0.9% as compared to last day. Similarly, the prices of gasoline in US had also risen up.

On the same way, the prices of Soybean futures have rose up for the third consecutive day in US futures markets due to encouraging Chinese economic data regarding favorable imports of more beans.

The US crude oil futures had settled up by 1% i.e. at $87.09 per barrel. On the contrary, the prices of London’s Brent Crude Oil which also plays the dominating role in for global Brent crude prices has slumped down by 0.5% at $108.17 per barrel with expectations of normalizing supply from North Sea oilfield after its maintenance, rising concerns about euro zone economy and with the fear of further delay in U.S recovery brought by Sandy.

Note: This blog is just an expression of the author's opinion and cannot be deemed responsible for any losses incurred.