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 […]

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 […]

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, […]

EIA Reports Increase in Crude Oil Inventories - December 8, 2011 23:57

EIA reported increase in crude oil inventories on Wednesday in reaction to which crude oil futures remained under pressure at NYMEX. As per latest report of Energy Information Administration crude oil stockpiles increased by 1.3 million barrels for the week ending December 2nd, 2011. Analysts were expecting crude oil inventories to decline by 1.3 million […]

EIA Reports Increase in Crude Oil Inventories - December 1, 2011 23:53

The Energy Information Administration reported a sudden increase in crude oil inventories on Wednesday which put the rallying oil prices under pressure at NYMEX. As per the latest report on the EIA, crude oil stockpiles increased by 3.9 million barrels for the week ended November 25th, 2011. Analysts expected the crude oil inventories to increase […]

NYMEX Trading: Crude Oil Post Slight Gains while Gold ends Lower - November 25, 2011 23:24

Crude oil futures slightly gained on Friday after a volatile session on Friday. Analysts attributed rising US dollar as the reason for pressure on commodities. The dollar index DXY which measures the greenback’s performance against its six major rival currencies gained to 79.607 on Friday as compared to 79.099 on Wednesday’s North American trading session. […]

EIA Reports Decline in Crude Oil Inventories - November 24, 2011 23:51

Crude oil futures declined on Wednesday despite decline in inventories data by Energy Information Administration. Investors were uncertain over the latest US economic data and euro zone debt situation. Oil Analyst, Matt Smith from Summit Energy commented, “This highlights the lack of confidence in even the strongest economy in Europe, causing a flight from (euro-zone) […]