Tag Archives: Crude Oil Prices Rise
Oil Extends Gains from Speculation on Obama's Rescue Plan
Posted on22. Jan, 2009 by admin.
The price of Crude Oil jumped to above $43 a barrel on Wednesday as the Organization of the Petroleum Exporting Countries’ (OPEC’s) supply cuts outweighed additional evidence that a deepening global slowdown is crushing demand for fuel. In fact, the cartel has actually been enforcing its deepest oil supply cut, which should be enough to [...]
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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 [...]
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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 [...]
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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 [...]
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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 [...]
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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 [...]
