Crude, Heating Oil Increase on Service Expansion: Oil Products
Bloomberg reports that Crude oil, heating oil and gasoline advanced more than 1 percent.
Articles Tagged "new york mercantile"
Crude Oil May Reach $150 in Four Years
Bloomberg reports that Crude oil may rise to as much as $150 a barrel over the next three to four years.
Oil Prices End Lower on Growing Global Uncertainty
Abcnews reports that Oil prices dropped for a third day on Tuesday with persistent worries about the global economy.
Oil continues to slide, natural gas rises 5.6 pct
Washingtonpost reports that Oil prices continued to slide on lingering concerns about economic stability in Europe.
What’s Adding Fuel To The Fire?
Gold may be taking off right now, but it's not the only thing in an uptrend. Energy is also moving higher. The considerable drop of investment in oil exploration and production is, however, set to bring the risk of oil prices hike in the future. In Iraq, a different picture is playing out.
Buyers To Buy If Prices Weaken
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.
Disruption Concerns Prop Crude
Crude oil rose for a second day in New York on Tuesday, as gains in the stock market increased optimism that the global economy is recovering. "Sentiment has driven this market from its lows in the hopes of an imminent recovery," said Toby Hassall, research analyst at Commodity Warrants Australia Pty in Sydney. "If we do see equities continue their rally, oil and a lot of other commodities are probably going to follow."
Crude oil headed for $71.55 a barrel
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.
Downward Pressure On Oil Price
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.
