U.S. crude oil futures slipped further in post-settlement trading on Tuesday after the American Petroleum Institute’s inventory data showed that domestic crude stocks fell less than expected last week. Phil Flynn, analyst at Alaron Trading in Chicago, stated: The API data shows imports were up and that tempered the crude draw, which came out lower [...]
U.S. crude oil futures surged on Thursday, pushed to a 2009 peak above $64 a barrel by better-than-expected economic indicators and OPEC leaving output steady ahead of government oil inventory data. For full story, click here
U.S. crude prices have shot above the key 200-day moving average on Wednesday for the first time in more than eight months, adding to some analysts’ convictions that oil has found a new price floor at $60 a barrel. For full story, click here
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.
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
U.S. demand for oil dropped by more than three percent during the first three months of the year to the lowest level for the first quarter period in more than a decade, API data shows, reflecting a drop in economic activity because of the recession. For full story, click here
U.S. crude oil futures dipped more than $4 on Monday on curbed optimism about the economy as stock markets retreated, the dollar increased and oil inventories swelled. For full story, click here
European traders are moving more North Sea crude oil cargoes to the U.S. and Asia as European demand remains sluggish, traders and shipping brokers said Wednesday. For full story, click here
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
U.S. crude futures ended higher for a second day in a row on Thursday, latching on to surging stock markets and data showing U.S. jobless claims eased, spurring hopes that oil demand could improve. Jim Ritterbusch, president of Ritterbusch & Associates in Galena, Illinois, stated: The complex finished this short week on a strong note [...]
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