Articles Tagged "optimism"

ICE Brent Crude Eased Towards $74 a barrel

Brent crude futures eased towards $74 a barrel on Thursday, retracing some of the previous day’s jump as optimism faded about the pace of economic and oil demand recovery. For full story, click here

Dollar Slides, Crude Jumps

Oil rose for a second day on Wednesday, after an industry group reported U.S. crude stockpiles dropped for the second week in a row and the dollar declined. Oil has climbed 34 percent this year, tracking global equity markets on optimism that an economic recovery will spur demand for fuel. Additional support for crude prices came from the dollar, which fell to the lowest level against the euro since March, bolstering demand for commodities as a hedge against inflation.

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.

Crude will touch $58-60

After nose-diving from a peak of $147 to $ 33 per barrel, crude oil is again displaying a good show of strength. The US crude oil future was trading above $54 a barrel, to a five month high, on improved optimism about an economic recovery. For full story, click here

Oil Price Peaks And Slides

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.

Total least optimistic

Total has long been the least optimistic of the big international oil companies about the world’s ability to grow oil output enough to meet demand. For full story, click here