Tag Archives: Crude Oil below $40 a Barrel
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 [...]
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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 [...]
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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 [...]
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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 [...]
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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 [...]
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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 [...]
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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, [...]
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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 [...]
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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 [...]
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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 [...]
