Archive for 'Crude Oil'
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 [...]
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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 [...]
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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 [...]
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Crude Oil Rises Above $42.50 a Barrel
Posted on26. Feb, 2009 by admin.
Crude Oil climbed 6% to above $42 a barrel on Wednesday, after a U.S. government report showed a sharp drop in gasoline inventories in the world’s top energy consumer. The U.S. Energy Information Administration (EIA) reported a 1.7% rise in demand for fuel over the four weeks prior to February 20th. Further support for Oil [...]
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OPEC Producers asked to Lower Crude Oil Output
Posted on25. Feb, 2009 by admin.
Crude Oil prices rose again yesterday as the U.S. stock market advanced, signaling that fuel usage in the world’s biggest energy-consuming country may rebound. Moreover, the Organization of Petroleum Exporting Countries (OPEC) may begin to cut output by 3.8% a day in February in order to stabilize prices.
However, traders should be eyeing news of key [...]
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Crude Oil Tumbles on Falling Demand
Posted on24. Feb, 2009 by admin.
The price of Crude Oil tumbled $2.31 to $38.01 a barrel in yesterday’s trading, as OPEC foresaw demand falling faster than the cartel’s production cuts. OPEC has cut its oil production by several million barrels a day since September, and is expected to cut further when they meet again in March. One of the main [...]
