Following the positive Dollar news on Friday, the price of crude temporarily rose above $70.00. This increase proved to be temporary, largely due to a Japanese business confidence report, and prices have since dropped to around the $69.50 level. The report showed that business confidence increased marginally, implying that demand for crude is down in [...]
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Crude levels declined for a seventh straight day, ending at a two month low Thursday as concerns of oversupply and low demand persist. Light, sweet Crude Oil for January delivery on the New York Mercantile Exchange settled down 13 cents at $70.54, the lowest level since Oct. 7th. With renewed attention to supply and demand, [...]
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Following a U.S. inventories report showing an increase in distillate oil stockpiles, crude prices fell as there appears to be a glut of the commodity in the American market. While crude oil inventories actually fell, investors largely seemed to ignore this, instead choosing to pay attention to oil overall. Consequently the price of crude fell [...]
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Crude Oil prices climbed above $73 a barrel after an industry report showed U.S. supplies dropped, bolstering optimism that fuel demand in the biggest energy-consuming nation will increase. Oil rose for the first time in 6 days after the American Petroleum Institute said crude inventories fell by 5.82 million barrels. Oil fell after U.S dollar [...]
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Crude Oil continued its decline for the fourth consecutive trading session following Bernanke’s speech and estimations for lower inflation and a weak U.S. economy. The price of Crude ended the day down at $74.14 after an opening price of $75.60. This was a price drop of almost 2%. Today’s weaker dollar may have helped to [...]
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Crude oil saw a very volatile session during last week’s trading. Crude oil began the week with a rising trend, reaching $78.85 a barrel. However, as the week continued, oil lost most of its gains and is currently trading around $75.50 a barrel. Crude oil rose earlier last week due to hopes that economic recovery [...]
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U.S. crude prices fell toward $75.70 a barrel on Thursday as weak U.S. service sector data and rising U.S. oil inventories outweighed losses in the dollar. Data showed the U.S. services sector unexpectedly contracted in November, with an index measuring activity fell to its lowest reading since July and put pressure on U.S. stocks and [...]
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Following the release of a U.S. government report detailing the supply and consumption levels of Oil in America, Crude prices dropped below the $77 mark in trading on Wednesday. The report showed that gasoline supplies rose 4 million barrels, while consumption levels dropped 3.2% from a year ago in the world’s largest energy consumer. Oil [...]
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Crude Oil pared gains on Wednesday to trade almost half a percent lower after industry data showed that U.S. crude stocks rose much more than expected, more than offsetting weakness in the U.S dollar. Crude gained after reports yesterday showed signs of increased manufacturing output in the U.S. and China, responsible for about 32 percent [...]
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Crude for January delivery rose $1.23, or 1.6%, to end at $77.28 a barrel on the New York Mercantile Exchange Monday. Further boost to Oil prices came after the Institute for Supply Management Index for the Chicago area climbed to 56.1, the highest level since August 2008. Furthermore, China’s manufacturing growth maintained the fastest pace [...]
