Crude Oil Declines on API Data - January 25, 2012 23:57

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 - January 20, 2012 23:55

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 - January 19, 2012 23:49

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 - January 18, 2012 23:59

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 - January 12, 2012 23:56

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 […]

Crude Oil Declines as Iran Threatens to Disturb Oil Tankers Traffic - January 10, 2012 23:57

Crude oil futures remained lower on Monday as investors remained cautious in reaction to Iran’s threat to disturb the oil shipping traffic. Bill O’ Neill from Logic Advisors in New Jersey commented, “Oil lacked new impetus to run higher and cautious traders may be backing off after an overdone reaction to the Iranian Hormuz threats, […]

Gold Futures Decline in Reaction to Euro Zone Concerns - January 10, 2012 23:50

Gold futures contract declined on Monday as the concerns over the euro zone debt situation remained the center of discussion. Despite positive comments from French President Nicolas Sarkozy and German Chancellor Angela Merkel who supported the goal of foster growth and job creation. However, the weaker greenback supported the gold prices and kept them above […]

EIA Reports Increase in Crude Oil Supplies - January 6, 2012 23:21

Energy Information Administration released its report on Thursday, according to which crude oil inventories gained 2.2 million barrels for the week ending December 30th, 2011. Analysts polled by Platts hoped for a decline of 450,000 barrels in crude oil inventories while a trade group forecasted the decrease of 4.4 million barrels. EIA also reported the […]

Crude Oil Ends at its Record High in Reaction to Tensions in Iran - January 4, 2012 23:55

Crude oil futures rallied on Tuesday and settled at its highest level since May 10th, 2011 in reaction to uncertainty over oil supplies due to Iran tensions. Moreover US manufacturing data was also better than expected further supporting the oil. As per the Institute of Supply Management, the manufacturing index gained to 53.9 for the […]