Reuters reported that oil prices went up slightly on Friday but futures still suffer largest weekly fall for 2013, after the commodities markets sell-off.
Articles Tagged "crude futures"
The Wall Street Journal reported that the news that United States crude stockpiles rose to 375 million barrels last week — the largest recorded increase for this time of year — brought US crude futures a three-month low.
Bloomberg reported that the news that a supply shortage in New York Harbor is likely to become less severe brought oil prices down for the first time in four days.
The Wall Street Journal reported that oil futures travelled downward after reports of disappointing economic growth in important crude-consuming nations such as China, Germany and the United States.
The Wall Street Journal reported that US crude futures bounced back after falling for four sessions in a row, but ended the week down 6.2 percent.
Reuters reported that prices for Brent oil futures and US crude both increased due to continued expectations of QE3, although they were curbed by higher August OPEC production and increased US production following Hurricane Isaac.
Bloomberg reports that Crude oil may rise to as much as $150 a barrel over the next three to four years.
Bloomberg reports that Oil options volatility strengthened as the underlying crude futures rose to a 26-month high.
NASDAQ reports that Commodities finished higher for the day as crude futures while gold futures rallied to a new record high as the dollar strengthened.
Oil prices gained as much as 1 percent with analysts offering further support; expecting a decline of 1 million barrels of U.S. oil supplies from 363.2 million last week. Oil inventories have not fallen nationwide for two consecutive weeks since January.