Bloomberg reported that oil saw a second day of declines as the dollar's strength against the euro increased and weaker earnings reports brought equities down.
Articles Tagged "equities"
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.
Crude oil rose for the first time this week, as U.S. equities rallied and the Federal Reserve said several of the country’s biggest regional economies saw some moderation in the pace of their decline. For full story, click here
Crude oil surged, heading for its biggest monthly gain in almost a year, as equities rose and a weaker dollar enhanced the appeal of commodities. Jim Ritterbusch, president of Ritterbusch & Associates, stated: The fundamentals of the oil market have been shoved to the background as we focus on the stock and currency markets. For [...]
It was a stock that people loved to hate. During the first half of 2008, investors cringed when they saw rallies in the price of oil. As crude surged to $150 a barrel last year, equity investors bemoaned the hit, and worried and gossiped about the outlook for consumer-oriented firms which would need to spend more on gas. Then the tide turned.
US crude futures dropped below $47 a barrel on Tuesday, as news that U.S. credit card defaults were on the rise pushed down equities, suggesting persistant weak demand in the world’s largest energy consumer nation. For full story, click here