Natural Gas Futures gained more than 44%

Natural Gas Futures gained more than 44%

On the last day of September, commodities witnessed gains. Undoubtedly, the Coronavirus pandemic has impacted the global economy; however, natural gas and lumber are among the best performers.

The Bloomberg Commodity Index, which tracks 23 commodities performance, increased by nearly 9% for the third quartes of 2020. Remarkably, the index gained roughly 5% in the second quarter.

According to Dow Jones Market Data, lumber futures gained 40% for the period while natural gas futures boosted more than 44%. Significantly, after the second quarter of 2016, that was the most significant quarterly percentage raise.

Phil Flynn, the senior market analyst at The Price Futures Group, reported that there was a much faster rebound in European demand than was anticipated in the throes of the coronavirus shutdown.

Lumber futures have been a standout all year amid strong demand for the commodity. On September 1, Prices reached a record settled at $928.50 per 1,000 board feet.

Moreover, gold witnessed a modest 5.3% gain for the third quarter of September, while white metal raised 26%.

Still, Ross Norman, chief executive officer of Metals Daily, reported silver’s decline for the month. Prices lost nearly 18% in September.

According to data from specialty-chemicals company Johnson Matthey, Meanwhile, rhodium gained 73% for the quarter. On September 30, Prices stood at $13,900 an ounce. Rhodium is not traded on the futures market or involved in the commodities index.

One of the platinum group metals, Palladium, gained 18.5%. Grain prices dramatically increased for the three-month ended in September and boosted approximately 18%.

Gold for December delivery surged $20.80 to $1,916.30 an ounce. Silver for December delivery climbed 76 cents to $24.25 an ounce, and December copper slipped 17 cents to $2.87 a pound.

West Texas Intermediate crude touched $40.22 a barrel

Oil futures ended higher for the third quarter of September, with U.S. prices up 2.4%. On Wednesday, November West Texas Intermediate crude touched $40.22 a barrel.

The dollar surged to 105.56 Japanese yen from 105.50 yen. The euro grew to $1.1746 from $1.1716.

The yellow metal futures marked eight consecutive quarterly increases. However, the rise for the third quarter paled compared to their second-quarter surge of approximately 13%. On August 6, Futures prices had achieved at a record of $2,069.40,

Benchmark U.S. crude oil for November delivery dropped $1.50 to $38.72 a barrel Thursday. Brent crude oil for December delivery declined $1.37 to $40.93 a barrel.

Wholesale gasoline for November delivery slumped 3 cents to $1.15 a gallon. November heating oil decreased 3 cents to $1.13 a gallon. Moreover, November natural gas changed little at $2.53 per 1,000 cubic feet.

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