Archive for 'Forex News'
Oil Prices Decline for 7th Day
Posted on11. Dec, 2009 by admin.
Crude levels declined for a seventh straight day, ending at a two month low Thursday as concerns of oversupply and low demand persist. Light, sweet Crude Oil for January delivery on the New York Mercantile Exchange settled down 13 cents at $70.54, the lowest level since Oct. 7th.
With renewed attention to supply and demand, confidence [...]
Continue Reading
Crude Falls Below $76
Posted on04. Dec, 2009 by admin.
U.S. crude prices fell toward $75.70 a barrel on Thursday as weak U.S. service sector data and rising U.S. oil inventories outweighed losses in the dollar. Data showed the U.S. services sector unexpectedly contracted in November, with an index measuring activity fell to its lowest reading since July and put pressure on U.S. stocks and [...]
Continue Reading
Crude Falls below $77 Following U.S. Inventory Report
Posted on03. Dec, 2009 by admin.
Following the release of a U.S. government report detailing the supply and consumption levels of Oil in America, Crude prices dropped below the $77 mark in trading on Wednesday. The report showed that gasoline supplies rose 4 million barrels, while consumption levels dropped 3.2% from a year ago in the world’s largest energy consumer.
Oil also [...]
Continue Reading
Crude Trades Around $78 Ahead of EIA data
Posted on02. Dec, 2009 by admin.
Crude Oil pared gains on Wednesday to trade almost half a percent lower after industry data showed that U.S. crude stocks rose much more than expected, more than offsetting weakness in the U.S dollar.
Crude gained after reports yesterday showed signs of increased manufacturing output in the U.S. and China, responsible for about 32 percent of [...]
Continue Reading
Crude Oil Prices Up on Improved Economic Outlook
Posted on01. Dec, 2009 by admin.
Crude for January delivery rose $1.23, or 1.6%, to end at $77.28 a barrel on the New York Mercantile Exchange Monday. Further boost to Oil prices came after the Institute for Supply Management Index for the Chicago area climbed to 56.1, the highest level since August 2008. Furthermore, China’s manufacturing growth maintained the fastest pace [...]
Continue Reading
Crude Oil Tumbles on Bullish Dollar and Gaza War Conclusion
Posted on20. Jan, 2009 by admin.
The price of Crude Oil tumbled $1.50 yesterday, to close at $40.85 as the Israel-Gaza crisis draws to a close. The reason why Crude has declined dramatically ahead of Barack Obama’s inauguration is due to the de-escalation of tension in the Middle East and the strengthening Dollar as of late. It is important to note [...]
Continue Reading
Crude Oil under Same Downward Pressure despite New Price Level
Posted on19. Jan, 2009 by admin.
With Crude Oil contracts for March delivery beginning this week, traders will notice a slightly different price level for this invaluable commodity. As February contracts came to a close, it is important to note that both contracts are in a price free-fall despite the difference in price level. While February contracts closed around $34 a [...]
Continue Reading
Oil Prices Could Go as Low as $35!
Posted on15. Jan, 2009 by admin.
Oil fell again during yesterday’s trading session due to rising inventories and flagging demand in the top energy consumer, the United States. U.S. distillate demand fell to the lowest level in five years as the economic recession battered industrial consumption, according to the Energy Information Administration.
Traders should be eyeing news of key U.S. economic indicators, [...]
Continue Reading
Crude Drops below $40
Posted on13. Jan, 2009 by admin.
Crude Oil continues to head lower for the 4th day in a row. The driving factor is concerns of the slowing global economy. Rising supplies and lower demand has pushed the price of Crude below the $40 level. This was a support line that many analysts said could not be broken.
The end to a gas [...]
Continue Reading
Weakened Global Energy Demand Returns Crude Oil to Previous Downtrend
Posted on12. Jan, 2009 by admin.
The sudden increase in the price of Crude Oil during the first days of the conflict in Gaza was more of a result of investor worries and speculation. Now, as commodity traders come to realize that the conflict between Hamas and Israel has very little influence over the production or shipping of oil, they start [...]
