Archive for March, 2009
Oil Rises beyond $50 a Barrel; Upward Movement to Continue?
Posted on23. Mar, 2009 by admin.
As part of the weakening USD seen last week, the price of Crude Oil has seen a corresponding increase in value. The price for a barrel of Crude Oil climbed above the $50 mark last Friday and appears to be continuing in an upward direction. No doubt the quantitative easing taking place in the U.S., [...]
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Higher than Expected Inventory Data Sinks Crude
Posted on12. Mar, 2009 by admin.
The price of Crude Oil dropped sharply yesterday as the demand for the commodity continues to fall. U.S. Crude Oil inventories posted a sharp increase in the amount of Crude stocks in storage. The report failed to meet market expectations, helping to drive the price of Crude lower. At the end of the trading day, [...]
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Crude Oil Plummets 5% as Global Recession Deepens
Posted on06. Mar, 2009 by admin.
Crude Oil fell about $1 or 5% during yesterday trading session to close at $43.89. This came about as stock market indices throughout the world plummeted yesterday, raising fresh concerns about Oil demand as fears about a prolonged global recession and falling global demand of Oil return to the forefront. This comes about just a [...]
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Crude Oil Soars to $45 a Barrel
Posted on05. Mar, 2009 by admin.
Crude Oil prices soared by an impressive 9% in yesterday’s trading to close at $44.90 a barrel. This advance in the black gold’s price came about as U.S. Crude Oil Inventory figures, which were released yesterday, showed that storage decreased by 700,000 barrels rather than the forecasted 1 million barrel increase. In addition, Crude prices [...]
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Traders Await Crude Oil Inventory Report
Posted on04. Mar, 2009 by admin.
The Price of Crude Oil saw heavy price volatility yesterday, which declined in the European trading session but later jumped 5% during the New York trading session. The rise in price was due to increasing expectations that OPEC will make further supply cuts during its next meeting. Crude Oil closed the day up at $41.45 [...]
