Crude Oil remains under pressure on Thursday

Crude oil remained under pressure on Thursday as investors were uncertain over the implementation of quantitative easing 3 by US Federal Reserve. Crude oil futures contract for August delivery declined $2.36 to $95.69 per barrel on Thursday at New York Mercantile Exchange.

Peter Beutel, President of trading advisory firm from Connecticut commented, “A lot of people are reconsidering how likely it is that we are going to see some type of (quantitative easing).”

Natural gas futures contract for August delivery also dropped $0.03 or 0.6 percent to close at $4.38 per million British thermal units. The respective contract declined after Energy Information Administration reported the increase of 84 billion cubic feet in natural gas inventories.

Among other commodities, gasoline futures contract for August delivery also slipped $0.03 to $3.12 per gallon while heating oil futures contract for August delivery dropped $0.01 to $3.08 per gallon.


Most Popular Content

Currency Articles - May 22, 2019 15:21 - 0 Comments

The Pound is in Freefall – When Will It Stop?

More In Currency Articles

Gold and Oil News - Mar 30, 2024 10:37 - 0 Comments

Gold Flying and Making New All Time Highs

More In Gold and Oil News

Shares and Markets - Oct 14, 2023 19:01 - 0 Comments

U.S. Stock Indices: A Dance Between Optimism and Fear

More In Shares and Markets