Bloomberg reports that U.S. crude-oil supplies probably dropped to their lowest level in three months as refinery demand increased with the end of seasonal maintenance.
Continue reading "Oil Supply Drops in Survey as U.S. Refinery Demand Climbs"
Wednesday, November 17, 2010
Bloomberg reports that Oil rose, rebounding from a four- week low.
Continue reading "Oil Rebounds From Four-Week Low"
Wednesday, October 27, 2010
Seekingalpha.com reports that oil fell below $82 a barrel owing the reports suggesting bigger-than-expected gain in US crude inventories.
Continue reading "Crude Prices Sag"
Friday, September 25, 2009
If bearish sentiment continues for a bit, expect to see a potential break below support levels around $67.35. Further declines in shipping rates due to reduced Chinese demand can be expected to continue, highlighted by expectations for a 50 per cent drop in freight rates in the next four months.
Continue reading "Buyers To Buy If Prices Weaken"
Tuesday, May 5, 2009
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
Continue reading "Crude oil headed for $71.55 a barrel"
Friday, April 17, 2009
Recent dismal economic data and growing U.S. inventories kept oil prices below $50 a barrel Friday despite hopes of a possible second-half recovery in crude demand. Benchmark crude for May delivery fell 40 cents to $49.58 a barrel by Noon in European electronic trading on the New York Mercantile Exchange. The contract on Thursday rose 73 cents to settle at $49.98.
Continue reading "Downward Pressure On Oil Price"
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Tuesday, November 23, 2010