Oil Futures Jump to a New 12-week High - October 26, 2011 23:58

Crude oil futures gained to its 12-week high on Tuesday in reaction to bearish stock markets. Crude oil futures contract for December delivery gained 2.1 percent or $1.90 to $93.17 per barrel on the New York Mercantile Exchange. The respective contract touched the intraday high of $94.65 per barrel on Tuesday. Many analysts hold the […]

Precious Metals Surge to Highest Level in One Month - October 26, 2011 23:53

Gold and silver futures moved in a bullish rally on Tuesday and reached their highest in one month. Gold futures contract for December delivery jumped 2.9 percent or $48.10 to settle at $1,700.40 per ounce at the Comex trading session of the New York Mercantile Exchange. This was the highest settlement since September 22nd, 2011. […]

Gold Futures Fell On Thursday Failing to Attract Investors on its Safe Haven Status - October 21, 2011 23:57

Gold futures contract declined on Thursday the precious metal failed to further attract investors on its safe haven status. Gold futures contract for December delivery fell 2.1 percent or $34.10 to settle at $1,612.90 per ounce on Comex trading of the New York Mercantile Exchange. This was also the lowest since late September. Senior Market […]

Crude Oil Futures Fell on Profit Taking - October 21, 2011 23:49

Crude oil futures fell on Thursday as the investors went for profit taking. Crude oil futures for November delivery fell 0.9 percent or $0.81 to $85.30 per barrel on the New York Mercantile Exchange. It touched the intraday low of $84.10 per barrel. Moreover the death of Libya’s leader Moammar Gadhafi further put pressure on […]

Crude Oil Surges on Tuesday Backed by Bullish Stock Markets - October 19, 2011 23:43

Crude oil futures gained on Tuesday in reaction to stronger US stock markets. Crude oil futures for November delivery surged 2.3 percent or $1.96 to settle at $88.34 per barrel on New York Mercantile Exchange. Energy analyst, Timothy Evans from Citi Futures Perspective commented, “Market sentiment continues to be closely linked with the S&P 500 […]

EIA Reports Surprise Surge in Crude Oil Inventories - October 14, 2011 22:34

Crude oil futures declined on Thursday in reaction to increase in crude oil inventories reported by Energy Information Administration. The crude oil futures fell $1.34 to settle at $84.23 per barrel at New York Mercantile Exchange on Thursday. As per the latest data of EIA, crude oil inventories increased by 1.3 million barrels for the […]

Crude Oil Futures Fell on Wednesday on Profit Taking - October 13, 2011 21:30

Crude oil futures declined on Wednesday as investors were uncertain after release of the current Federal Open Market Committee meeting in which the officials forecasted sluggish economic growth till the end of the current year. Many analysts believed that profit taking was overdue after the bullish rally of consecutive five days. Analyst, Jim Ritterbusch from […]

Oil and Precious Metals Move in Bullish Rally on Monday - October 11, 2011 23:42

Crude oil futures jumped on Monday in reaction to weaker greenback and stance of Germany and France to support European Banks. Crude oil futures contract for November delivery jumped 2.9 percent or $2.43 to settle at $85.41 per barrel on the New York Mercantile Exchange. Analysts attributed the oil surge to falling US dollar as […]

Oil Futures Jump on Inventories Data - October 6, 2011 23:52

Crude oil futures gained on Wednesday in reaction to decrease in inventories data and uncertainty over US employment conditions. According to the latest data of the Energy Information Administration, crude oil inventories fell 4.7 million barrels for the week ending September 30th, 2011 whereas analysts expected the oil stock piles to increase by 2.5 million […]