Reuters reported that the price of oil dropped $3, falling as much as $5 at its lowest point, due to high-volume selling that may have been the result of a problem with an automated computer trading program.
Articles Tagged "quantitative easing"
Reuters reported that oil prices increased following the US Federal Reserve's announcement that until the job market improves, it will bolster the economy by buying $40 billion of mortgage debt per month.
Reuters reported that prices for Brent oil futures and US crude both increased due to continued expectations of QE3, although they were curbed by higher August OPEC production and increased US production following Hurricane Isaac.
Reuters reported that anticipation that the US Federal Reserve will stimulate the economy by introducing a third round of quantitative easing brought oil prices up despite bearish Chinese oil and industrial growth statistics.
Bloomberg reports that crude oil increased to a two-week high after Chinese manufacturing expanded at the quickest pace in six months.