Crude prices dipped 4% in the last week and are trading 2% down. Crude holds USD 50 per barrel and USD 55 per barrel on the higher side is the resistance. For full story, click here
Continue reading "Crude prices showed resistance at $55/bbl"
Friday, April 17, 2009
Crude oil dipped as much as US$1.07, or 2.1%, to US$51.17 per barrel in electronic trading on the New York Mercantile Exchange. For full story, click here
Continue reading "Crude Oil dipped on grim IEA forecast"
Wednesday, April 15, 2009
U.S. crude oil futures slipped further in post-settlement trade on Tuesday, but stuck to the day’s range, after industry data showed that crude inventories surged much higher than expected last week. For full story, click here
Continue reading "U.S Crude Oil Futures slipped further"
Thursday, March 26, 2009
Crude oil futures are trading up $1.04 at $53.81 a barrel after receding $1.21 to $52.77 a barrel on Wednesday, when they slipped in reaction to the weekly oil inventory report. For full story, click here
Continue reading "Crude oil futures trading up $1.04"
Monday, March 23, 2009
The market in Toronto jumped significantly, in part due to the merger announcement between Suncorp (TSE:SU) and Petro-Canada (TSE:PCA). Petro-Canada was up 20 per cent at the end of the day and many of the other Canadian oil patch companies rose along with it. EnCana (TSE:ECA), Canadian Natural Resources (TSE:CNQ) and Talisman Energy (TSE:TLM) all closed up significantly.
Continue reading "Canadian Merger as Crude breaches $51 per barrel"
Sunday, March 15, 2009
US trade deficit sinked in January 2009 to the lowest level in 6 years as a deepening recession cut demand for imported goods at an even faster rate than for exports. The slump in imports was led by a 25.2% dip in imported crude oil, which fell to USD 11.9 billion in January, the lowest [...]
Continue reading "US trade deficit fell to a six year low"
Wednesday, March 4, 2009
Crude oil traded near $45 a barrel, after rising in the past two days, as China plans to boost imports of commodities. Victor Shum, a senior principal at Purvin & Gertz Inc. in Singapore, stated: If these efforts to stockpile crude oil and oil products become a reality then it raises China’s apparent demand. For [...]
Continue reading "Crude oil closes near $45 a barrel"
Tuesday, February 24, 2009
Oil prices were mixed in Asian trade on Wednesday as the market looked for signs of demand in a weakening global economy. For more information, click here
Continue reading "Oil prices mixed in Asian trade"
Wednesday, December 3, 2008
Crude oil prices rose in futures trading on sustained buying in line with a firming trend in overseas markets. For full story, click here
Continue reading "Crude rises nearly 1 pc in futures trade"
Thursday, November 20, 2008
Vietnam will cut imports of petroleum products by about 3 million metric tons next year as it seeks to curb the widening trade deficit. For full story, click here
Continue reading "Vietnam to reduce petroleum imports to curb trade deficit"
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Tuesday, April 21, 2009