March 22, 2005 |
The red-hot market in commodities cooled a bit Monday, sending a key index of prices in the sector to its biggest loss in nine months. But the commodity that matters most to many consumers -- crude oil -- slipped just fractionally from Friday's record high. Tumbling prices for cocoa, soybeans, gold, coffee and other hard assets drove the Reuters-CRB index of 17 commodity futures prices down 5.71 points, or 2%, to 313.49, the steepest one-day drop since June 2.
December 23, 2004 |
If not for Javier Vazquez's reluctance and the Dodgers' hesitation because of it, Shawn Green probably would have waived his no-trade clause and continued his career in Arizona. As it is, not two months from spring training, Green still belongs to the Dodgers, with whom he has one season remaining on a contract that will pay him $16 million.
September 3, 2004 |
Orange juice, cotton and lumber futures prices jumped Thursday as speculators bought on fears that Hurricane Frances would do even more damage to Florida and the East Coast than the recent Hurricane Charley. The massive storm barreling toward southeastern Florida could deal the second of a one-two punch to the state's $9.1-billion citrus industry, the nation's largest, which only three weeks ago was ravaged by Hurricane Charley.
May 14, 2004 |
U.S. prosecutors are investigating whether there were civil and criminal violations in cattle futures trading in the two weeks before the first U.S. case of mad cow disease was reported, a federal regulator said Thursday. Futures prices plunged 20% in the days after the Dec. 23 announcement. Some ranchers believe that there were unusual trades before the announcement. "That is something we are looking at. We are cooperating with the U.S.
April 2, 2004 |
Crude oil and gasoline futures fell sharply Thursday on the possibility that federal regulators would grant waivers on gasoline formulas to California and New York, a move that could help ease prices and summer supply bottlenecks. Responding to comments by Energy Secretary Spencer Abraham, who told Congress that the Bush administration was "seriously" considering the waiver requests, traders sent the price of gasoline for April delivery down 5.2% to $1.
February 24, 2004 |
A federal judge has ordered a Glendale currency trading firm and its president to repay more than $1 million to small investors, many of them from Russia, regulators said. U.S. District Judge Percy Anderson in Los Angeles also fined Fintrex Inc. $4 million and its president, Arman Ovsepyan, $1.3 million, the U.S. Commodity Futures Trading Commission said. Fintrex and Ovsepyan were charged in 2001 with marketing illegal foreign currency futures contracts.
February 20, 2004 |
Hedge Street Inc., founded by Portola Valley, Calif.-based investment company Pareto Partners, got approval from the Commodity Futures Trading Commission to start an electronic exchange offering options on single events. Investors will be able to use the exchange to bet on or guard against events or indexes that do not have an underlying market, such as economic indicators, according to documents posted on the CFTC website.
January 6, 2004 |
Gold futures rose to a new multiyear high in New York trading Monday as the dollar slid to a record low against the euro, boosting the metal's appeal as a store of value. Gold prices jumped a total of 49% in 2002 and 2003, the biggest two-year rally since 1979 and 1980, fueled in part by the dollar's drop against the euro. The dollar fell further Monday after Federal Reserve Gov.
August 8, 2003 |
Crude oil futures jumped 2.2% on Thursday, to the highest level since March 17, after a bomb exploded outside the Jordanian Embassy in Baghdad -- heightening fears that violence will keep Iraqi oil exports below pre-war levels. Also, natural gas futures surged 7% after a government report said U.S. reserves last week posted the smallest gain since May, increasing concern about shortages next winter. In the oil market near-term futures in New York rose 69 cents to $32.
August 6, 2003 |
Gasoline futures rose 2.9% to a four-month high in New York trading Tuesday on speculation that summer travel and refinery shutdowns are sapping inventories that already are below normal. The nation's gasoline reserves declined about 1.18 million barrels last week, based on a Bloomberg survey of analysts ahead of a weekly government report. ConocoPhillips and at least two other companies curtailed production at U.S. refineries in the last month because of unscheduled repairs.