New York Mercantile Exchange

New York Mercantile Exchange News

• Brent Rises to 9-Month High as German Business Confidence Beats Forecasts

  Updated 38 minutes ago

  Brent crude rose to its highest price in more than nine months in London after German business confidence surpassed forecasts, reflecting optimism that steps to resolve Europe’s debt crisis will be successful.

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  Euro Strengthens Against Dollar and Yen After German Confidence Increases

  Updated 23 minutes ago

  The euro climbed against the dollar and the yen as a report showed German business confidence rose to the highest level in seven months in February amid progress in taming the region’s debt crisis.

• Iran Snub to UN Officials Shows Stance Unchanged, U.S. Says

  Updated 3 hours, 5 minutes ago

  Iran’s refusal to let United Nations experts investigate allegations of illicit nuclear activities at a military base doesn’t inspire confidence for a return to negotiations with the international community, U.S. officials and nuclear-proliferation specialists said.

• Oil Gains in London as German Business Confidence Rises More Than Forecast

  Crude oil advanced to its highest in more than nine months in London after a German report showed business confidence in Europe’s biggest economy rose more than economists had forecast.

• Oil Falls From Highest Close in Nine Months as U.S. Crude Stockpiles Rise

  Oil dropped from a nine-month high in New York after a report showed stockpiles increased in the U.S., the world’s biggest consumer of crude.

• Obama Urged to Resist Calls to Use Oil Reserves Amid Iran Risks

  Updated 1 hour, 7 minutes ago

  President Barack Obama should resist calls to combat rising gas prices with oil from U.S. reserves, which must be available in the event Iran blocks a pathway for a fifth of the crude heading to market, Republicans say.

• Gold Rises on Bets Stimulus Will Continue: Commodities at Close

  The Standard & Poor’s GSCI gauge of 24 commodities climbed 0.5 percent to 703.11 at 4 p.m. in New York. The UBS Bloomberg CMCI index of 26 raw materials was rose 0.3 percent to 1,641.825 at 4:19 p.m.

• Japanese Stock Futures Unchanged on Signs of Overheating, Yen

  Japanese stock futures were unchanged as technical indicators signaled shares have been overbought, while the yen’s drop to a seven-month low against the dollar buoyed the earnings outlook for exporters. Australian equities slipped.

• Most Emerging Stocks Rise as Oil Gain Offsets Europe Slowdown

  Updated 22 minutes ago

  Most emerging-market stocks climbed as higher prices for oil boosted producers, offsetting data showing a contraction in manufacturing in Europe and China.

• Oil Rises to Nine-Month High as Iran Bars Nuclear Inspectors From Base

  Oil rose to a nine-month high as International Atomic Energy Agency officials were denied access to an Iranian military base and said negotiations over the country’s nuclear program “couldn’t finalize a way forward.”

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