Archive for 'Forex News'
Oil Prices Resume Sliding despite U.S Crude Inventories Report
Posted on08. Jan, 2009 by admin.
Oil prices slid 12% during yesterday’s trading session, the largest percentage drop in 7 years. This drop came after a U.S. government report showed Crude Oil inventories rose more than expected in the world’s top energy consumer.
Two days ago, Crude Oil reached a five-week high because of the conflict between Israel and Hamas, Russia’s gas [...]
Continue Reading
Crude Oil Prices lack the Support to Push Beyond $50 a Barrel
Posted on07. Jan, 2009 by admin.
Crude Oil prices have changed little after falling yesterday. Analysts forecast that gloomy economic data from the United States would make it tough for Crude prices to make a sustained push through $50 a barrel. Data released Tuesday showed that pending sales of U.S. homes dropped in November to their lowest level in at least [...]
Continue Reading
Gaza and Russian Conflicts Elevate Crude Prices
Posted on06. Jan, 2009 by admin.
Crude Oil climbed for a fourth consecutive trading day on concerns that the conflict in Gaza may not be short lived while Russia and Ukraine argue over gas prices. Crude Oil climbed as high as $49.23, only to close the day at $47.90.
The nearly 3 percent gains were seen as fighting between Israel and Hamas [...]
Continue Reading
Gaza Conflict May Carry Less Impact on Oil Prices than Previously Thought
Posted on05. Jan, 2009 by admin.
Many analysts glimpse at the map of the Middle East and, rightfully, believe that the conflict in Gaza should carry little impact on the price of Crude Oil. This is because Israel is nowhere near the oil reserves or shipping lanes in the region. Yet one thing is for certain, since the start of hostilities [...]
Continue Reading
Crude Oil Price Slide to Below $42 on the Start of New Years Trading
Posted on02. Jan, 2009 by admin.
The price of Crude Oil continues to be volatile as it dropped over 130 pips from near $43 to $41.70 in the opening hours of today’s trading. This comes about as analysts’ expected Oil prices to hit $35 Dollars a barrel in the coming weeks. However, the black gold continues to defy people’s expectations, as [...]
Continue Reading
Crude Oil Trades near $39 on Grim Economic Outlook
Posted on31. Dec, 2008 by admin.
Oil prices fell $1.00 on Tuesday as fear about demand in the global economy outweighed expectations of further Saudi supply cuts in February and tension in the Middle East due to the Israeli-Hamas conflict. The market took in data showing a sharp fall in weekly U.S. retail gasoline demand, and record low consumer confidence in [...]
Continue Reading
Middle East Violence Sparks a Rise in Crude Prices
Posted on30. Dec, 2008 by admin.
A rally in Crude Oil was seen yesterday as continuing violence in the Middle East sparked a price jump. The price reached above $42 at one point, settling at $39.60 for the day. Analysts are concerned that an increase of violence in the region could disrupt Oil supplies, driving Crude prices higher.
The price appears to [...]
Continue Reading
Recent Conflict over Gaza Strip has Oil Prices on the Rise
Posted on29. Dec, 2008 by admin.
Investors almost witnessed the beginning of a price plummet for Crude Oil last week as most speculators were predicting that the Organization of Petroleum Exporting Countries’ (OPEC’s) production cut wouldn’t be enough to quell the storm. Falling to as low as $36 a barrel last Friday, the price of Oil appears to have found some [...]
Continue Reading
Oil Plunges to Below $40 a Barrel
Posted on23. Dec, 2008 by admin.
Crude Oil prices slid yesterday, approaching a four-and-a-half year low as the recent record production cuts from the Organization of the Petroleum Exporting Countries (OPEC) failed to spark a rally in the price of Crude Oil last week. The price of Crude ended the day at 39.71, and appeared to be holding below the $40 [...]
Continue Reading
OPEC Production Cut More Likely; Oil Prices Moving Up
Posted on22. Dec, 2008 by admin.
Realizing the lack of trust, many investors have in their ability to follow through with the production decision; the Organization of Petroleum Exporting Countries (OPEC) is now issuing strongly worded statements in which they express determination to stabilize the Crude Oil market. Traders may have begun to believe these claims as falling Oil prices have [...]
