Tag Archives: Crude Oil
Oil Rises beyond $50 a Barrel; Upward Movement to Continue?
Posted on23. Mar, 2009 by admin.
As part of the weakening USD seen last week, the price of Crude Oil has seen a corresponding increase in value. The price for a barrel of Crude Oil climbed above the $50 mark last Friday and appears to be continuing in an upward direction. No doubt the quantitative easing taking place in the U.S., [...]
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Higher than Expected Inventory Data Sinks Crude
Posted on12. Mar, 2009 by admin.
The price of Crude Oil dropped sharply yesterday as the demand for the commodity continues to fall. U.S. Crude Oil inventories posted a sharp increase in the amount of Crude stocks in storage. The report failed to meet market expectations, helping to drive the price of Crude lower. At the end of the trading day, [...]
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Crude Oil Plummets 5% as Global Recession Deepens
Posted on06. Mar, 2009 by admin.
Crude Oil fell about $1 or 5% during yesterday trading session to close at $43.89. This came about as stock market indices throughout the world plummeted yesterday, raising fresh concerns about Oil demand as fears about a prolonged global recession and falling global demand of Oil return to the forefront. This comes about just a [...]
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Crude Oil Soars to $45 a Barrel
Posted on05. Mar, 2009 by admin.
Crude Oil prices soared by an impressive 9% in yesterday’s trading to close at $44.90 a barrel. This advance in the black gold’s price came about as U.S. Crude Oil Inventory figures, which were released yesterday, showed that storage decreased by 700,000 barrels rather than the forecasted 1 million barrel increase. In addition, Crude prices [...]
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Traders Await Crude Oil Inventory Report
Posted on04. Mar, 2009 by admin.
The Price of Crude Oil saw heavy price volatility yesterday, which declined in the European trading session but later jumped 5% during the New York trading session. The rise in price was due to increasing expectations that OPEC will make further supply cuts during its next meeting. Crude Oil closed the day up at $41.45 [...]
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Crude Oil Rises Above $42.50 a Barrel
Posted on26. Feb, 2009 by admin.
Crude Oil climbed 6% to above $42 a barrel on Wednesday, after a U.S. government report showed a sharp drop in gasoline inventories in the world’s top energy consumer. The U.S. Energy Information Administration (EIA) reported a 1.7% rise in demand for fuel over the four weeks prior to February 20th. Further support for Oil [...]
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OPEC Producers asked to Lower Crude Oil Output
Posted on25. Feb, 2009 by admin.
Crude Oil prices rose again yesterday as the U.S. stock market advanced, signaling that fuel usage in the world’s biggest energy-consuming country may rebound. Moreover, the Organization of Petroleum Exporting Countries (OPEC) may begin to cut output by 3.8% a day in February in order to stabilize prices.
However, traders should be eyeing news of key [...]
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Crude Oil Tumbles on Falling Demand
Posted on24. Feb, 2009 by admin.
The price of Crude Oil tumbled $2.31 to $38.01 a barrel in yesterday’s trading, as OPEC foresaw demand falling faster than the cartel’s production cuts. OPEC has cut its oil production by several million barrels a day since September, and is expected to cut further when they meet again in March. One of the main [...]
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Stock Markets Trends Dictate Crude Oil Prices
Posted on23. Feb, 2009 by admin.
Crude Oil is continuing to trade around $40 a barrel. It appears that investors have correlated their investment on Crude Oil with the leading global stock markets. As long as the leading economies will continue to deliver worrying news that will damage equity markets, Crude Oil will probably retain its low price level.
In addition, Oil [...]
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Crude Oil Spikes on Better Inventory Data
Posted on20. Feb, 2009 by admin.
Oil prices went to as high as $40.23 in yesterdays trading. However, by the close of trading the black gold was trading near $39.466, holding gains of nearly $2 from Wednesday’s closes. One of the main factors contributing to Oil’s gains was the U.S. Crude Oil Inventories Data. Crude stocks declined by 0.2 million barrels [...]
