Archive for 'Crude Oil'
Stock Markets Trends Dictate Crude Oil Prices
Posted on23. Feb, 2009 by admin.
Crude Oil is continuing to trade around $40 a barrel. It appears that investors have correlated their investment on Crude Oil with the leading global stock markets. As long as the leading economies will continue to deliver worrying news that will damage equity markets, Crude Oil will probably retain its low price level.
In addition, Oil [...]
Continue Reading
Crude Oil Spikes on Better Inventory Data
Posted on20. Feb, 2009 by admin.
Oil prices went to as high as $40.23 in yesterdays trading. However, by the close of trading the black gold was trading near $39.466, holding gains of nearly $2 from Wednesday’s closes. One of the main factors contributing to Oil’s gains was the U.S. Crude Oil Inventories Data. Crude stocks declined by 0.2 million barrels [...]
Continue Reading
Crude Oil Traders Await U.S. Inventory Data
Posted on19. Feb, 2009 by admin.
Crude Oil prices experienced another day of depreciation as the oft-traded commodity dropped below $38 in this morning’s early trading session. Oil prices traded down for the second straight day. Much of the bearish movement in Crude Oil can be attributed to fears of a drop in fuel consumption due to poor economic outlook in [...]
Continue Reading
OPEC to Discuss Production Cuts; Oil Demand Falling
Posted on18. Feb, 2009 by admin.
The Organization of the Petroleum Exporting Countries (OPEC) is looking to reduce oil supply further if demand is insufficient to absorb supplies, oil ministers said on Tuesday. OPEC, supplier of more than a third of the world’s oil, has raced to cut supply to match falling demand from a slowing global economy. OPEC next meets [...]
Continue Reading
Crude Oil Fails to Rally with the Dollar
Posted on17. Feb, 2009 by admin.
Coming on the heels of a large rally this past Friday, Crude Oil looked for price direction but could only find itself range trading. The price rally as seen from the impending approval of President Obama’s economic stimulus plan was not strong enough to carry over into the new trading week. Surprisingly, today’s price rally [...]
Continue Reading
Crude Oil Trades Below $38 on Slowing Global Demand
Posted on16. Feb, 2009 by admin.
The price of Crude Oil broke through a number of significant barriers last Friday. Starting the day just above $36 a barrel, the price then cut through the $35 and $34 price barriers before climbing back up $3 higher by market close. This week, the price of Crude appears to be back on the downward [...]
Continue Reading
Price of Crude Oil Hits One-Month Low
Posted on12. Feb, 2009 by admin.
Oil prices slid 4.3% during yesterday’s trading session, the lowest in four weeks. This drop came after a U.S. government report showed Crude Oil inventories rose more than expected in the world’s top energy consumer, and after the International Energy Agency (IEA) said that global energy demand this year would post its biggest decline since [...]
Continue Reading
Oil Plummets on U.S. Stimulus Doubts
Posted on11. Feb, 2009 by admin.
The price of Crude Oil dropped by $1.80 a barrel, or 4.5%, to $38.04 in yesterday’s trading as investors lost confidence due to the weak statements made by U.S. Treasury Secretary Timothy Geithner regarding the U.S. banking rescue package. Additionally, even though the U.S. Senate passed the economic stimulus plan, the House of Representatives and [...]
Continue Reading
Oil Settles below $40 Ahead of Inventory Data
Posted on10. Feb, 2009 by admin.
The price of Crude Oil settled below the $40 mark yesterday as traders await Crude Oil inventory data due Wednesday. Many have predicated a rise in the price as the U.S. economic stimulus package inches closer to Congressional approval; however, the commodity has been range trading between $39-43 for the past 10 days, unable to [...]
Continue Reading
Oil Producers have High Hopes that Oil has Hit Bottom; But Has It?
Posted on09. Feb, 2009 by admin.
After a short-lived spike in the price of Crude Oil last Friday, the commodity has apparently returned to its previous holding pattern and now trades around the $40 price level. Traders may actually be seeing the price of Crude Oil reach a stable price level. For the first time in months, the price of Light [...]
