Gold and Oil News
Gold and Oil News - January 27, 2012 23:53
Crude Oil Futures Keep Up the Bullish Rally
Crude oil futures ended higher on Thursday but closed lower than $100 per barrel mark on recovery of the greenback. Investors remained mixed on Thursday as the US stock markets also turned lower while US economic data also gave mixed signals. As per data of US Commerce Department, new home sales fell 2.2 percent in [...]
Gold Futures Rally as the Greenback Weakens
Gold futures rallied on Wednesday and crossed the psychological barrier of $1,700 per ounce as the US dollar declined and US Fed announced to keep the interest rate at their lowest. Managing director, Jeffery Wright from Global Hunter Securities commented, “It looks like someone awoke to the fact that loose monetary policy will eventually impact [...]
EIA Reports Increase of 3.6 Million Barrels in Crude Oil Stockpiles
Energy Information Administration reported increase of 3.6 million barrels in crude oil inventories on Wednesday while analysts forecasted the increase of 700,000 barrels in oil inventories for the week ending January 20th, 2012. Another trade group, API reported the increase of 7.3 million barrels in the crude oil stockpiles. Gasoline inventories declined by 400,000 barrels [...]
Crude Oil Declines on API Data
Crude oil futures declined on Tuesday as API reported huge increased in crude oil inventories data. The stronger greenback also exerted some pressure Crude oil futures. Commodities are always negatively correlated with US dollar as stronger greenback makes commodities expensive for investors of other currencies. Editor, Tom Essaye from 7:00’s Report commented, “Oil is lower [...]
Energy Information Administration Reports Decrease in Oil Stockpiles
Energy Information Administration released its report on Wednesday and disclosed decline of 3.4 million barrels in crude oil inventories for the week ending January 13th, 2012. Analysts were expecting the increase of 2.6 million barrels in the crude oil supplies. API on the other hand reported the decline of 4.8 million barrels in crude oil [...]
Crude Oil Futures Gain on API Data
Crude oil futures gained on Thursday’s Asian trading session in reaction to decrease in inventories data released by American Petroleum Institute. As per latest report of API the crude oil inventories fell 4.8 million barrels for the week ending January 13th, 2012 whereas analysts were expecting the increase of 2.6 million barrel in crude oil [...]
Gold Jumps as Greenback Weakens
Gold futures jumped on Tuesday as the greenback weakened on the Tuesday. Moreover the escalating concerns over Europe’s debt further boosted the safe haven status of the gold. The gold futures contract for February delivery gained 1.5 percent or $24.80 to settle at $1,655.60 per ounce on the Comex trading or the New York Mercantile [...]
EIA Surprises: Stunning Surge in Oil Inventories
Energy Information Administration reported its inventories data on Wednesday and shocked investors with an increase of 5 million in crude oil inventories for the week ending January 6th, 2012. Analysts were expecting the decrease of 1 billion barrels in the crude oil supplies of the respective week while another trade group also released its data [...]
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