Archive for April, 2009
OPEC Planning Further Production Cuts?
Posted on27. Apr, 2009 by admin.
After failing to breach the resistance level of $52 a barrel last week, the price of Crude Oil appears to be coming back down. Recent press releases from the various oil ministers in member countries of the Organization of Petroleum Exporting Countries (OPEC) have stated that the latest price volatility has been damaging to the [...]
Continue Reading
Global Demand for Oil May Continue Falling; Will its Price Follow?
Posted on20. Apr, 2009 by admin.
After last Friday’s jump in oil prices, the cost of buying a barrel of Light Sweet Crude has apparently begun to fall after reports showed that the U.S. economy is still forecasting a contraction. With the world’s top oil consumer declaring that it’s demand for Crude Oil is going to continue falling, and with current [...]
Continue Reading
Demand for Crude Oil Continues to Fall; As Does its Price
Posted on08. Apr, 2009 by admin.
It appears that the recent steps taken by the Organization of Petroleum Exporting Countries (OPEC) to increase the price of Crude Oil have begun to lose their momentum. After 4 consecutive days of losing value, the price of Crude Oil currently sits just below $48 a barrel and could retain this downward momentum. As economic [...]
Continue Reading
Crude Drops Sharply on Equity Losses and a Strong Dollar
Posted on07. Apr, 2009 by admin.
The price of Crude Oil fell sharply yesterday as a strong Dollar and weaker equity markets dampened investor’s sentiment. Crude largely tracked U.S. equity markets which were sent lower on worries in the banking sector and overall market attitudes. This was the case with the previous month when Oil prices rose, tracking the rise of [...]
Continue Reading
Crude Oil Prices Stabilizing as Dollar Relationship becomes More Solid
Posted on03. Apr, 2009 by admin.
The price of Crude Oil has become much more predictable this past week. With a sharp appreciation following some negative U.S. data, the value of Crude then continued to sink back below $50 a barrel. However, as the USD weakens once more, the price of Crude has once again made a jump in the direction [...]
