Crude Oil Reaches $100 in Reaction to Development in Euro Zone’s Situation - November 29, 2011 23:57

Crude oil futures reached their record level on Monday on optimism over euro zone’s debt situation. Crude oil futures contract for January delivery surged 1.5 percent or $1.44 to settle at $98.21 per barrel on the New York Mercantile Exchange. The respective contract touched its intraday high of $100.74 per barrel which happens to be […]

EIA Reports Surprise Decrease in Crude Oil Inventories - November 10, 2011 23:57

Energy Information Administration released its latest inventories data on Wednesday for the week ended November 4th, 2011. As per latest report of EIA, crude oil inventories fell 1.4 million barrels for the respective week while analysts expected crude oil stockpiles to increase by 1 million barrels. Gasoline stockpiles declined 2.1 million barrels as compared to […]

Crude Oil Jumps on Reduced US Jobless Claims - November 4, 2011 23:56

Crude oil futures rallied on Thursday in reaction to reduction in US jobless claims. As per latest data of the US Labor Department, initial jobless claims fell 9,000 to 397,000 for the week ending October 29th, 2011. Moreover, Greece decided to cancel the referendum for its bailout package while European Central Bank announced reduction in […]

Crude Oil Futures Decline on Greece’s Sovereign Debt Crisis - November 2, 2011 23:58

Crude oil futures declined on Tuesday in reaction to referendum decision on Greece debt crisis. Crude oil futures contract for December delivery declined 1.1 percent or $1 to settle at $92.19 per barrel on the New York Mercantile Exchange. Moreover bankruptcy of one of the largest US commodity brokers MF Global further disappointed the investors. […]

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 […]

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 […]

Crude Oil Plunges on Weak Economic Outlook - October 5, 2011 21:52

Crude oil futures fell on Tuesday in reaction to weak US economic outlook. Moreover, Greece’s debt situation further escalated the uncertainty among investors. Keith Springer from Springer Financial Advisors commented, “Oil is the blood that sustains the heart of economic growth, slower economic growth means less aggregate demand leading to less production of goods and […]

Crude Oil Declines on Thursday - September 23, 2011 23:41

Crude oil futures plunged on Thursday as investors were uncertain over the strong bearish sentiments in US stock markets. Most of the investors and traders held the opinion that US Federal Reserve’s latest move to prolong debt maturities would not have any impact over the US economy. Moreover China’s manufacturing data also created more negativity […]