Tag Archives: Crude Oil
Oil Recovers and Reaching over $76 a Barrel
Posted on30. Nov, 2009 by admin.
After a week in bearish trading, crude oil is beginning to recover some of its losses, and is currently traded at $76.60 a barrel. During last week’s session crude oil reached a 6-week low, and dropped to the 72.40 level.
Crude Oil dropped last week on speculations that Dubai World, the United Arab Emirates’ largest corporate [...]
Continue Reading
Crude Oil Slips to a Low Near $76
Posted on27. Nov, 2009 by admin.
Crude oil traded below $76 Friday, poised for a weekly decline on concern that the pace of fuel demand recovery in the U.S., the biggest energy- consuming nation, may stall. Prices fell as the U.S dollar strengthened against the EUR after Dubai’s attempt to reschedule debt spurred investors to seek the safety of assets perceived [...]
Continue Reading
Crude Oil Rises on Weak Dollar
Posted on26. Nov, 2009 by admin.
Crude oil rose today as the dollar dropped to a 15-month low against the EUR and a government report showed that U.S. fuel demand gained for a second week. Oil increased about 2.6% after the greenback retreated on the Federal Reserve’s signal that it will tolerate a weaker currency.
Expectations that consumers may once again want [...]
Continue Reading
Crude Prices Drop to Lowest Level since Oct. 14
Posted on25. Nov, 2009 by admin.
Crude Oil futures for January delivery fell nearly 2% Tuesday, settling at $76.02 a barrel on the New York Mercantile Exchange, the lowest settlement since Oct. 14. Crude Oil fell to $75.73 a barrel in electronic trading late Tuesday, down 0.4% after the American Petroleum Institute said U.S. crude stockpiles rose by 3.4 million barrels [...]
Continue Reading
Crude Prices Level Out
Posted on24. Nov, 2009 by admin.
In light of the weak dollar, oil was able to make impressive gains in trading yesterday. Prices approached $80.00, but amid concerns about demand and inventories, oil retreated from its gains and prices stabilized at $77.55. With the dollar apparently set to rebound, and U.S. stock markets set to wind down in the coming days [...]
Continue Reading
Oil’s Range Trading Continues; Tension in the Middle East Rises
Posted on23. Nov, 2009 by admin.
Crude Oil saw a rather volatile session during last week’s trading. By the beginning of the week, crude oil rose to $80.85 a barrel. However close to the weekend oil dropped back down, and reached as low as $76.80 a barrel.
Currently, oil is back on a rise, and a barrel of crude oil is traded [...]
Continue Reading
Crude Hits $60 a Barrel!
Posted on19. May, 2009 by admin.
Crude Oil prices rose Tuesday, briefly topping $60 a barrel as analysts expected a drop in U.S. crude inventories, though gains were limited by disappointing U.S housing data. Oil’s gains yesterday were aided by the Dollar’s slump against the other major currencies, which bolstered demand for commodities as an alternative investment. Crude was up 62 [...]
Continue Reading
OPEC Planning Further Production Cuts?
Posted on27. Apr, 2009 by admin.
After failing to breach the resistance level of $52 a barrel last week, the price of Crude Oil appears to be coming back down. Recent press releases from the various oil ministers in member countries of the Organization of Petroleum Exporting Countries (OPEC) have stated that the latest price volatility has been damaging to the [...]
Continue Reading
Global Demand for Oil May Continue Falling; Will its Price Follow?
Posted on20. Apr, 2009 by admin.
After last Friday’s jump in oil prices, the cost of buying a barrel of Light Sweet Crude has apparently begun to fall after reports showed that the U.S. economy is still forecasting a contraction. With the world’s top oil consumer declaring that it’s demand for Crude Oil is going to continue falling, and with current [...]
Continue Reading
Crude Oil Prices Stabilizing as Dollar Relationship becomes More Solid
Posted on03. Apr, 2009 by admin.
The price of Crude Oil has become much more predictable this past week. With a sharp appreciation following some negative U.S. data, the value of Crude then continued to sink back below $50 a barrel. However, as the USD weakens once more, the price of Crude has once again made a jump in the direction [...]
