Crude Oil Ends at its Lowest Since October 2011 - May 31, 2012 23:48

Crude oil futures declined on Wednesday and touched their lowest since October 2011. Investors were bearish on the crude oil in reaction to the Spain’s economic turmoil, lower Chinese demand outlook and stronger greenback. Crude oil futures contract for July delivery declined 3.2 percent or $2.94 to settle at $87.82 per barrel on the New [...]

EIA Reports Increase of 900,000 Barrels in Oil Inventories - May 24, 2012 23:49

Energy Information Administration released its inventories report on Wednesday according to which crude oil stockpiles increased by 900,000 barrels for the week ending May 18th, 2012 while analysts forecasted the increase of 750,000 barrels for the respective week. Another trade group, the American Petroleum Institute reported the increase of 1.5 million barrels in crude oil [...]

Crude Oil Gains on Better than Expected Manufacturing Data - May 2, 2012 23:49

Crude oil futures moved in bullish rally on Tuesday and reached their highest in last five weeks mainly backed by positive US manufacturing data. As per the latest data of the Institute of Supply Management the manufacturing index gained to 54.8 percent in month of April as compared to 53.4 percent in March. Analysts were [...]

Crude Oil Declines on Profit Taking - May 1, 2012 23:52

Crude oil futures ended lower on Monday finally after the consistent four bullish sessions in the last week. Investors were also concerned over the downgraded rating of Spanish bonds by Standard & Poor. Moreover, manufacturing data from Chicago area also fell to 56.2 percent in April as compared to expectations of 60.8 percent. Manufacturing gauge [...]

Crude Oil Supplies Gain 3.8 Million Barrels; Reports Energy Information Administration - April 19, 2012 23:49

Energy Information Administration released its report on Wednesday according to which crude oil inventories jumped 3.8 million barrels for the week ending April 13th, 2012. Analysts were expecting the increase of 400,000 barrels in crude oil supplies for the respective week. Gasoline stockpiles fell 3.7 million barrels as compared to analysts’ forecasted increase of 140,000 [...]

Crude Oil Ends Higher on Eased Tensions from Iran - April 17, 2012 23:59

Crude oil futures ended higher on Monday after a volatile session in reaction to eased tensions on Iran’s situation. The talks on Iran’s nuclear program eased the tensions over oil supply. The oil also got boost from higher stock markets and lower greenback. Moreover, the news of Seaway pipeline, Enbridge & Enterprise Products Partners asking [...]

Crude Oil Jumps on Fed’s Shaky Comments - April 13, 2012 23:55

Crude oil futures closed higher on Thursday as investors were uncertain over the comments by US Federal Reserve officials indicating further round of quantitative easing. The major officials of US Federal Reserve, William Dudley and Janel Yellen commented on US economy and indicated chances of another round of quantitative easing. Crude oil futures contract for [...]