Bloomberg reports that Crude oil rose to a 27-month high on speculation that the U.S. will be able to sustain an economic recovery this year.
Continue reading "Oil Rises to 27-Month High on Economic Rally"
Tuesday, November 23, 2010
Bloomberg reports that Oil rose from the lowest level in a week after the U.S. economy grew more than previously estimated in the third quarter.
Continue reading "Crude Oil Rises From Lowest Level in a Week"
Saturday, August 8, 2009
Oil pulled back in Asia on Friday as regional stock markets eased and investors awaited a US report on unemployment which could give fresh clues on the health of the recession-hit economy. Victor Shum, senior principal at energy consultancy Purvin and Gertz in Singapore, stated: Oil is retreating a bit and that’s not surprising considering [...]
Continue reading "Oil Retreated in Asia, New York Crude Holds Above 71 years"
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"
Tuesday, April 14, 2009
Oil rebounded from yesterday’s losses as gains in equity markets signaled that industrial output around the world may be restoring, drawing investors back to commodities such as crude. Robin Bieber, director of PVM Oil Associates Ltd., stated: At the moment oil is closely linked to activity in the stock market. For full story, click here
Continue reading "Crude Oil Futures surge as Equity Market Gained"
Tuesday, April 7, 2009
Canadian Stocks dip for a third day, led by energy producers and financial firms, after crude oil retreated and investors speculated the nation’s banks won’t be permitted to relax fair-value accounting. For full story, click here
Continue reading "Canadian Stocks dip as crude oil declines"
Monday, April 6, 2009
Oil prices vaulted 9 per cent in NY Thursday, in tandem with a powerful stocks rally, as investors cheered G20 agreements to combat the global downturn and an easing of US accounting rules. On Friday, oil prices settled above $52 a barrel, slightly lower on the day after a report that US unemployment in March soared to a 25-year high. But optimism that the economy will soon turn around curtailed losses.
Continue reading "Oil Price Peaks And Slides"
Friday, February 20, 2009
The jump was all too clear. A surprise drop in U.S. oil inventories caused crude prices to jump 14 per cent on Thursday, in New York, powering a broad commodities rally that pushed copper and corn higher. The only noticeable drop was in gold, which closed lower for the first time in three days.
Continue reading "Demand Set To Recover Soon?"
Monday, November 24, 2008
Oil prices rose above $50 a barrel in Asia as investors gained some confidence from reports that US President-elect Barack Obama has chosen an economic team to tackle what could be the worst slowdown in decades. For full story, click here
Continue reading "Oil prices rise above $50 on Obama economy team"
Tuesday, November 11, 2008
It is obvious that a barrel price below $60 on the NYMEX is bad news for oil companies. Part of the drop reflects a strengthening American dollar, but recent demand forecast revisions are bleak. Governments, companies and investors think a prolonged recession or period of low growth is in the offing, and everyone should take note.
Continue reading "Benchmark:South of US$60"
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Monday, January 3, 2011