Jalatama Artha Berjangka News

PT. Jalatama memberikan berita, West Texas Intermediate rose for a third day before a report tomorrow that’s forecast to show crude stockpiles dropped for the first time in almost three months in the U.S., the world’s biggest oil consumer.

Futures advanced as much as 0.4 percent in New York. U.S. crude inventories shrank by 700,000 barrels during the seven days ended Nov. 29, the first decline in 11 weeks, according to a Bloomberg News survey before data from the Energy Information Administration. The global oil market is balanced, Saudi Arabian Oil Minister Ali al-Naimi said before the Organization of Petroleum Exporting Countries meets tomorrow to discuss its production quota, which is forecast to remain unchanged.

WTI for January delivery gained as much as 38 cents to $94.20 a barrel in electronic trading on the New York Mercantile Exchange, and was at $94.15 at 11:30 a.m. Sydney time. The contract rose $1.10, or 1.2 percent, to $93.82 yesterday, the highest close since Nov. 25. The volume of all futures traded was about 53 percent below the 100-day average. Prices are up 2.5 percent this year.

Brent for January settlement increased $1.76, or 1.6 percent, to $111.45 a barrel on the London-based ICE Futures Europe exchange yesterday. The European benchmark crude ended the session at a premium of $17.63 to WTI futures.

Demand for crude from OPEC will remain near current levels in 2014, so ministers meeting in Vienna tomorrow will probably stick with a 30 million-barrel-a-day ceiling, said three delegates who spoke on condition of anonymity because discussions are private. Saudi Arabia pumps almost a third of the oil produced by the 12 member nations. The group will reaffirm its current limit, according to 22 of 24 analysts and traders surveyed by Bloomberg News.

(Source: Bloomberg)

Gold declined for the first time in three days, extending the worst monthly performance since June, on speculation that the Federal Reserve will begin reducing monetary stimulus as the U.S. economy strengthens.

Bullion for immediate delivery fell as much as 0.5 percent to $1,247.48 an ounce, and traded at $1,247.95 at 8:42 a.m. in Singapore. Gold lost 5.3 percent in November, the biggest drop since June, when prices touched a 34-month low of $1,180.50.

Gold lost 26 percent this year as an improving U.S. economy fueled speculation the Fed will start scaling back bond buying that drove a 12th year of gains in 2012. Data this week may show U.S. employment rose by 183,000 workers last month after a 204,000 gain in October, putting the world’s largest economy on track to show the biggest annual gain payrolls since 2005.

Gold for February delivery declined 0.2 percent to $1,247.70 an ounce on the Comex in New York in trading volume that was 39 percent below the average for the past 100 days at this time of day, data compiled by Bloomberg showed.

The Fed will pare monthly asset purchases to $70 billion from $85 billion at its March 18-19 meeting, according to a Bloomberg survey last month. Minutes of the last meeting released on Nov. 20 signaled that policy makers expected an improving economy to warrant trimming debt purchases in coming months. The central bank’s next gathering is Dec. 17-18.

(Source: Bloomberg)