Archive for January, 2009
Oil Prices Resume Sliding despite U.S Crude Inventories Report
Posted on08. Jan, 2009 by admin.
Oil prices slid 12% during yesterday’s trading session, the largest percentage drop in 7 years. This drop came after a U.S. government report showed Crude Oil inventories rose more than expected in the world’s top energy consumer.
Two days ago, Crude Oil reached a five-week high because of the conflict between Israel and Hamas, Russia’s gas [...]
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Crude Oil Prices lack the Support to Push Beyond $50 a Barrel
Posted on07. Jan, 2009 by admin.
Crude Oil prices have changed little after falling yesterday. Analysts forecast that gloomy economic data from the United States would make it tough for Crude prices to make a sustained push through $50 a barrel. Data released Tuesday showed that pending sales of U.S. homes dropped in November to their lowest level in at least [...]
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Gaza and Russian Conflicts Elevate Crude Prices
Posted on06. Jan, 2009 by admin.
Crude Oil climbed for a fourth consecutive trading day on concerns that the conflict in Gaza may not be short lived while Russia and Ukraine argue over gas prices. Crude Oil climbed as high as $49.23, only to close the day at $47.90.
The nearly 3 percent gains were seen as fighting between Israel and Hamas [...]
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Gaza Conflict May Carry Less Impact on Oil Prices than Previously Thought
Posted on05. Jan, 2009 by admin.
Many analysts glimpse at the map of the Middle East and, rightfully, believe that the conflict in Gaza should carry little impact on the price of Crude Oil. This is because Israel is nowhere near the oil reserves or shipping lanes in the region. Yet one thing is for certain, since the start of hostilities [...]
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Crude Oil Price Slide to Below $42 on the Start of New Years Trading
Posted on02. Jan, 2009 by admin.
The price of Crude Oil continues to be volatile as it dropped over 130 pips from near $43 to $41.70 in the opening hours of today’s trading. This comes about as analysts’ expected Oil prices to hit $35 Dollars a barrel in the coming weeks. However, the black gold continues to defy people’s expectations, as [...]
