API Reports Increase of 3.6 Million Barrels in Oil Supplies - February 23, 2012 22:33

The American Petroleum Institute released its weekly inventories data on Wednesday according to which crude oil stock piles surged 3.6 million barrels for the week ending February 17th, 2012. API reported the increase of 314,000 barrels in gasoline inventories for the respective week while distillates inventories which include heating oil and diesel surged by 630,000 […]

Crude Oil Gains as Iran Continues to Disrupt Oil Supply While Greece Reaches on a Deal - February 22, 2012 23:56

Crude oil futures rallied and settled on its highest since May, 2011 on Tuesday in reaction to the possibility of further actions by Iran to disrupt the oil supply while Greece reached on an agreement for the second trench of the bailout package. Most analysts termed the current situation as ideal for the crude oil. […]

Crude Oil Reaches its Record High in 9 Months - February 21, 2012 23:48

Crude oil futures touched its record high in 9 months at $105 per barrel on Monday in reaction to the news of Iran threatening to extend its oil supply restriction on Britain and France. Iranian President said on Monday that the embargo could be extended to other European countries too if they continue their hostile […]

Crude Oil Reaches its Highest in Five Weeks on Iran Tensions - February 14, 2012 23:47

Crude oil futures gained on Monday and reached their highest in five weeks in reaction to oil supply tension in Middle East by Iran. Moreover, the approval austerity measures program by the Greek parliament also resulted in high demand for the crude oil. Analyst Matt Smith from Summit Energy commented, “Crude prices are on the […]

Energy Information Administration Reports Increase in Supply Data - February 9, 2012 22:15

Energy Information Administration released its report on crude oil inventories on Wednesday according to which crude oil stockpiles increased by 300,000 barrels for the week ending February 3rd, 2012 while another trade group American Petroleum Institute reported the decrease of 4.5 million barrels in the crude oil inventories. Analysts were expecting the supplies to increase […]

Crude Oil Declines on Greece Worries - February 7, 2012 23:59

Crude oil futures ended lower on Monday as investors were uncertain over the Greece’s debt situation. In reaction to uncertainty over the Greece’s second bailout package the greenback strengthened further putting pressure on the commodities. Crude oil futures for March delivery fell 1 percent or $0.93 to $96.91 per barrel on the New York Mercantile […]

EIA Reports More Than Expected Increase in Supplies Data - February 2, 2012 23:55

Energy Information Administration released its figures on crude oil inventories on Wednesday reporting higher than expected increase in supplies data. As per report of EIA, crude oil stockpiles increased by 4.2 million barrels for the week ending January 27th, 2012 as compared to analysts expected increase of 3 million barrels for the week. Gasoline inventories […]

Crude Oil Futures Keep Up the Bullish Rally - January 27, 2012 23:53

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 […]

EIA Reports Increase of 3.6 Million Barrels in Crude Oil Stockpiles - January 26, 2012 23:26

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 […]