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EDF raises nuclear output forecast for 2020

Electricite de France SA said late Thursday that it is raising its annual nuclear output estimate in France. The state-controlled French utility said it expects output to be around 315 terawatts hours to 325 terawatts hours for 2020. It had previously estimated 300 TWh for the year. "This revision reflects the adjustment of the duration of planned outages for 2020, taking into account the conditions observed on sites for resuming activities," EDF said. 2:00 a.m. Today

Oil climbs for a second session, settles at highest since March

Oil futures rise for a second session on Thursday, logging their highest finish since March, amid support from data showed the biggest weekly U.S. crude supply decline since 2019 and stronger-than-expected domestic job growth in June. 3:22 p.m. July 2, 2020

Lonestar Resources misses $14M interest payment

Lonestar Resources US Inc., an oil-and-gas producer that recently raised doubts about its ability to survive, said it skipped a $14.1 million bond interest payment due Wednesday. The Fort Worth, Texas-based shale driller said the payment was due on $250 million in 11.25% senior bonds due in 2023. The missed payment starts a 30-day grace period before the company is considered to be in default. 2:55 p.m. July 2, 2020

Commodities Headlines

Oil futures end higher, with U.S. prices at their highest since March

Oil futures settled higher on Thursday, buoyed by a hefty decline in last week's U.S. crude supplies and better-than-expected domestic jobs growth in June. August West Texas Intermediate oil rose 83 cents, or 2.1%, to settle at $40.65 a barrel on the New York Mercantile Exchange. That was the highest finish for a front-month contract since March 6, according to FactSet data. There will be no regular trading for Nymex oil futures Friday because of the Independence Day holiday. Prices were up 5% from last Friday's settlement.

2:49 p.m. July 2, 2020
Gold settles with a gain for the session and shorter week

Gold futures climbed on Thursday, also posting a gain for the holiday-shortened week, as concerns over the increase in COVID-19 cases in part of the world provided safe-haven support for the metal. Some of that support lacked in the U.S., where data showed better-than-expected jobs growth in June. "The employment numbers are spectacular but an 11% unemployment rate is still elevated," said Jeff Wright, executive vice president of GoldMining Inc. "COVID cases are back on rise and numerous states have slowed down reopen plans." August gold rose $10.10, or 0.6%, to settle at $1,790 an ounce. There will be no regular trading for gold futures Friday, which marks the Independence Day holiday. Based on the most-active contract, prices were up about 0.5% from last Friday's settlement.

2:03 p.m. July 2, 2020
 - Getty Images
Oil futures end higher as U.S. supply marks biggest weekly decline of the year

Oil futures end higher Wednesday after a U.S. government report showed the largest weekly decline in domestic crude inventories so far this year.

3:13 p.m. July 1, 2020
Oil futures score a gain for the session as U.S. supplies show biggest weekly drop of the year

Oil futures settled higher on Wednesday after U.S. government data showed that domestic crude supplies fell by 7.2 million barrels last week, the largest weekly decline so far this year. The fall in stockpiles also followed three consecutive weeks of increases. August West Texas Intermediate oil rose 55 cents, or 1.4%, to settle at $39.82 a barrel on the New York Mercantile Exchange.

2:36 p.m. July 1, 2020
Gold futures end lower a day after highest finish since 2011

Gold futures pulled back Wednesday, after settling a day earlier at their highest since 2011. "Gold remains in an uptrend but some fatigue may be kicking in," said Lukman Otunuga, senior research analyst at FXTM. Data from Automatic Data Processing Inc. Wednesday showed that U.S. private-sector employers added 2.37 million jobs in June, less than analysts expected. Still, "some optimism may return over the U.S. economy recovering quicker than expected," something that may hit haven gold, he said. August gold fell $20.60, or 1.1%, to settle at $1,779.90 an ounce. Prices settled at $1,800.50 on Tuesday, the highest finish for a most-active contract since Sept. 2011, according to Dow Jones Market Data. Prices ended the second quarter with a gain of nearly 13%.

1:39 p.m. July 1, 2020
 - AFP/Getty Images
This commodity escaped first half of 2020 drop in the energy sector

A benchmark commodities index lost about 20% in the first half of 2020, with the energy sector leading the decline as the coronavirus pandemic ravaged demand for petroleum. Uranium, though, stands out as a resilient performer that’s likely to continue to do well in the second half of the year.

11:14 a.m. July 1, 2020
EIA reports first weekly U.S. crude supply decline in a month

The Energy Information Administration reported Wednesday that U.S. crude inventories fell by 7.2 million barrels for the week ended June 26. That followed three consecutive weeks of increases and compared with a forecast by analysts polled by S&P Global Platts for an average decline of 2.7 million barrels. The American Petroleum Institute on Tuesday reported a decrease of 8.2 million barrels. The EIA data also showed crude stocks at the Cushing, Okla., storage hub edged down by about 200,000 barrels for the week. Gasoline supply rose by 1.2 million barrels, while distillate stockpiles fell by 600,000 barrels. The S&P Global Platts survey had shown expectations for a supply decline of 2.7 million barrels for gasoline and an increase of 900,000 barrels for distillate inventories. August West Texas Intermediate crude rose 28 cents, or 0.7%, at $39.55 a barrel on the New York Mercantile Exchange. Prices traded at $39.71 before the supply data.

10:40 a.m. July 1, 2020
API data show weekly U.S. crude supplies down by more than 8 million barrels, sources say

The American Petroleum Institute reported late Tuesday that U.S. crude supplies fell by 8.2 million barrels for the week ended June 26, according to sources. The API data also reportedly showed gasoline stockpiles down by 2.5 million barrels, while distillate inventories rose by 2.6 million barrels. Crude stocks at the Cushing, Okla., storage hub, meanwhile, edged up by 164,000 barrels for the week, sources said. Inventory data from the Energy Information Administration will be released Wednesday. The EIA data are expected to show crude inventories declined by 2.7 million barrels last week, according to analysts polled by S&P Global Platts. They also forecast a supply decline of 2.7 million barrels for gasoline and an increase of 900,000 barrels for distillate inventories. August West Texas Intermediate crude was at $39.66 a barrel in electronic trading. It settled Tuesday at $39.27 on the New York Mercantile Exchange.

4:53 p.m. June 30, 2020

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