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February 24, 2023
Off to the races! Markets are off to a great start this session; ICE Sugar has already added 2.46% to lead the way for commodities
Markets are up as Heating Oil up 1.06%, trading at $2.74. Brent Crude Oil goes up 0.89%, trading at $82.94.
Uptick coincides with some positive signs published earlier as highly important Crude Oil Inventories data from United States beat analyst expectations of 2 million with a reading of 7.65 million.
Here are the biggest commodities gainers so far today.
+2.2%: Energy in focus as bullish NYMEX Gas posts 2.2% gain
Heading in the same direction for now — after closing the previous trading day at $2.31, Natural Gas is up to $2.37 per MMBtu, which makes for a move of 2.2%/5.1 cents today.
CME Palladium improves to $1,445.5 after a 3 day downtrend
Today's positive session could indicate a brief correction amid a broader downtrend, or, the start of a potential reversal. Tentatively higher from an earlier low of $1,435.5, CME Palladium is up to $1,445.5 per troy ounce today, adding $16.9, or 1.18%, to yesterday's closing price of $1,428.6.
+2.46%: commodity traders stay bullish as ICE Sugar adds 49 cents or 2.46%
As the session continues, it seems to maintain one direction — after closing the previous trading day at $19.9, Sugar is up to $20.39 per pound, which makes for a move of 2.46%/49 cents today.
