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"
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, April 3, 2009
Rising by nearly three dollars, the price for oil produced by the Organisation of the Petroleum Exporting Countries ended the day at $50 a barrel. For full story, click here
Continue reading "OPEC oil price surged to $50 a barrel"
Friday, March 27, 2009
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.
Continue reading "Higher Oil: Sign Of Economic Growth"
Thursday, March 19, 2009
The oil price has seen a hike above 50 dollars for the first time since last January. For full story, click here
Continue reading "Crude oil price rises over 50 dollars"
Monday, March 9, 2009
After falling from $147 to $35 per barrel towards the end of last year, crude oil has once again gained and touched $45 per barrel on speculation that China's stimulus plan may spur demand for the commodity near term. However, some experts are of the view that this is not just speculation but real purchases driving the prices up.
Continue reading "The relation between gold price and oil price"
Thursday, March 5, 2009
As world crude prices rise, oil marketing companies are selling petrol at a loss, eliminating intense political pressure on the government to lower pump prices a third time ahead of the general elections. For full story, click here
Continue reading "Rise in Crude prices takes a toll on Petrol Sales"
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?"
Wednesday, February 18, 2009
Heating oil prices edged 0.0225 cents lower to $1.16 per gallon. For full story, click here
Continue reading "Heating oil prices edged 0.0225 cents lower"
Wednesday, February 11, 2009
Crude oil for March delivery rose as much as 67 cents, or 1.8 percent, to $38.22 a barrel on the New York Mercantile Exchange. It was at $37.92 a barrel at 12:25 p.m. Singapore time. For full story, click here
Continue reading "Crude oil for March delivery rose"
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Tuesday, May 5, 2009