Benchmark: How low can it go?
Clearly Monday was not particularly good news for oil companies. With futures settling below $90 per barrel, ($87.81 when Benchmark went to proofing) the industry is seeing the lowest prices since February.
Articles Tagged "Dollar"
Benchmark: Focus on Ike and Nigeria
Though ConocoPhillips (NYSE:COP) and Placid Refining Company are both receiving hundreds of thousands of barrels of crude from America’s federal reserves to continue refinery operations, and two rigs in the Gulf have been knocked adrift, the overall impact of Ike appears fairly benevolent to energy companies.
Cheap oil could get cheaper
Bloomber reported that currency traders are chalking up the dollar’s second straight day of gains to the hope that lower oil prices will jumpstart the American economy, which could lead to a virtuous circle: Economic growth boosts the dollar, and the strengthening of the dollar will make crude less attractive as a hedge against inflation. For full [...]
Benchmark: August 25
Barrel prices nosed upward of $115 on Monday, largely due to a sagging US dollar. Analyzing this in reference to last week’s barrel and dollar prices shows the extent to which crude is tied to currency differentials. The relationship is not one sided, either. For us Canadians, high oil prices are keeping our dollar near parity with that of our neighbours.
Benchmark: August 18
Barrel prices were pushed gently northward in early trading on Monday, as a confluence of factors threatened supply and made it an attractive alternative investment. The dollar’s decline relative to the euro increased anti-inflation hedging activities in commodities.
Crude oil rebounds on weakening dollar
Crude oil jumped back above 116 U.S. dollars a barrel on Tuesday, after the dollar declined against the euro on a weaker U.S. economic report. For more information, click here
India Rupee decined against Dollar due to refiners
India’s rupee fell for a fifth day against the dollar on speculation That refiners have increased purchases of crude oil. The chief currency trader at Corporation Bank was quoted as saying: Companies including Indian Oil Corp., the nation’s biggest refiner, may have purchased the dollar to buy more crude after the oil price on Aug. 15 [...]
Oil falls below $116 on strong dollar
Oil prices declined below $ 116 a barrel on Friday due to growing recession fears in eurozone triggered by strong dollar against the Euro. For full story, click here
Crude Oil Slip Keeps Dollar High
The dollar held firm near seven-week highs against the yen and euro due to constant slip in crude oil prices. Hideaki Inoue, chief manager of forex trading, was quoted as saying: Expectations of higher U.S. interest rates diminished slightly after the Fed meeting, but the dollar is likely to stay on a steady footing as [...]
