Archive for 'Forex News'
Oil Prices Resume Sliding despite OPEC's Production Cut
Posted on19. Dec, 2008 by admin.
Oil prices have been on the fritz lately; inexplicably dropping in value after the Organization of Petroleum Exporting Countries (OPEC) announced its supply cut and then quickly rebounding during early trading hours the next day. More recently, the price of Crude Oil has resumed falling back towards $40 a barrel, dipping as low as $41.54 [...]
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OPEC's Slash in Output Sparks Oil Rally
Posted on18. Dec, 2008 by admin.
A massive production cut by OPEC help boost the price of Crude Oil yesterday. This was in reaction to the cartel agreeing to reduce Crude supplies by 2.2 million barrels per day. This was the largest cut announced in the cartel’s history. OPEC’s large output cut led to a 450 pip rise in Crude prices [...]
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OPEC Meeting Today Expected to Yield Significant Production Cut
Posted on17. Dec, 2008 by admin.
Despite a significantly weakened U.S. Dollar, the price of Crude Oil has remained relatively untouched. Floating near the $45 price range, Oil appears to be waiting in anticipation of the Organization of Petroleum Exporting Countries’ (OPEC) meeting later today.
The cartel is expected to discuss a significant decrease in oil production. A potential cut of 2-2.5 [...]
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Crude Oil Falls Below $45 ahead of Expected OPEC Production Cut
Posted on16. Dec, 2008 by admin.
Crude Oil prices fell almost 4% to settle at $44.51 a barrel yesterday as deepening economic worries countered expectations that the Organization of the Petroleum Exporting Countries (OPEC) would agree to its biggest supply cut ever when the group meets in Algeria this week. The OPEC ministers, who meet on Wednesday, are calling for the [...]
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OPEC's Production Cut and a Weakening Dollar Increase Price of Oil
Posted on15. Dec, 2008 by admin.
Crude Oil prices rose this past week as signs that the Organization of Petroleum Exporting Countries (OPEC) may begin to cut output from 2-2.5 million barrels a day in order to stabilize prices. Reducing Crude Oil output will be heavily debated as a possible way to increase Crude Oil’s price in the last month of [...]
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Crude Oil Shows Signs of a Comeback
Posted on12. Dec, 2008 by admin.
Crude Oil saw a substantial appreciation in the price yesterday with gains greater than 3%. The jump in Crude was supported by increasing expectations that OPEC will reach an agreement to reduce Oil production the following week. Crude Oil rose more then $ 3.00 a barrel, trading above $ 47.00. Oil also found support from [...]
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Crude Oil Receives Support from Saudi Arabia
Posted on11. Dec, 2008 by admin.
Saudi Arabia is taking the responsibility to prop up Crude Oil prices on its own. It has been reported that the world’s largest Oil producing nation will cut supplies to customers next month. In addition, it is widely expected that OPEC will cut output when it meets on December 17th in Algeria.
Because of the Saudi [...]
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Crude Attempts to Reverse its Price Plunge
Posted on09. Dec, 2008 by admin.
Crude Oil rose 3% on Monday after falling almost 25% last week, the most since 1991. Crude has previously declined as a result of U.S economic data showing a worsening recession. The U.S. economy lost 533,000 jobs in November, bringing job losses this year to 1.91 million. Oil prices briefly firmed on speculation that the [...]
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OPEC's Announced Production Cut Lends Support to Oil Prices
Posted on08. Dec, 2008 by admin.
Starting today’s trading off with the first sustained upward movement in weeks, the price of Crude Oil received proper support this weekend from the Organization of Petroleum Exporting Countries (OPEC). After OPEC announced that the upcoming meeting of oil ministers may have already produced a consensus on cutting oil production, the price began a slow [...]
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Price of Crude Oil Set to Sink Until the Mid-December OPEC Meeting
Posted on05. Dec, 2008 by admin.
The Interest Rate cuts made by the European Central Bank (ECB) and the Bank of England (BoE) confirm worries that the economic slump is likely to reduce energy demand. Oil prices dropped more than 6% yesterday, to its lowest level in nearly 4 years to about $43.80 a barrel.
According to analysts, the recent decline in [...]
