Crude oil Jumps to $110 per Barrel in Reaction to Pipeline Blast - March 2, 2012 23:52

Crude oil futures crossed the $110 per barrel mark on Thursday in reaction to the news of pipeline blast in Saudi Arabia. The news was reported the Iranian television however Saudi officials denied the incident. Crude oil futures contract for April delivery gained 1.7 percent or $1.77 to settle at $108.84 per barrel on the […]

Investors Take Fresh Position in Gold on Attractive Levels - March 2, 2012 23:50

Gold futures gained on Thursday as investors took fresh position on the precious metals due to its attractive levels. Gold fell in the prior session in reaction to comments of Ben Bernanke who expressed his doubts on US economic recovery. Gold futures for April delivery gained 0.6 percent or $10.90 to settle at $1.722.20 per […]

EIA Reports Increase in Crude Oil Inventories - March 1, 2012 23:49

Energy Information Administration released its weekly data on crude oil inventories on Wednesday according to which crude oil stockpiles gained 4.2 million barrels for the week ending February 24th, 2012 as compared to analysts expected increase of 1 million barrels. EIA also reported decline of 1.6 million barrels in gasoline inventories as compared to expected […]

Gold Jumps to Its Highest in Three Months - February 29, 2012 22:00

Gold futures rallied on Tuesday and reached their highest in last three months. Gold faced correction in prior two sessions which resulted in buying frenzy on lower prices on Tuesday. Moreover, weakening US dollar also gave metals a boost. Gold futures contract for April delivery surged 0.8 percent or $13.50 to settle at $1,788.40 per […]

Crude Oil Faces Correction After Rallying for Eight Days - February 28, 2012 23:57

Crude oil future faced correction on Monday in reaction results of g-20 meeting and higher oil prices threatening to slow the global economic recovery. Crude oil futures contract for April delivery fell 1.1 percent or $1.21 to settle at $108.56 per barrel on the New York Mercantile Exchange. Investors were uncertain after the G-20 members […]

EIA Reports Increase In Crude Oil Inventories - February 24, 2012 23:17

Energy Information Administration released its report on crude oil inventories on Thursday according to which crude oil supplies gained by 1.6 million barrels for the week ending February 17th, 2012. Analysts on average forecasted the increase of 1.7 million barrels in crude oil supplies for the respective week. EIA reported decrease of 600,000 barrels in […]

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 […]

Gold Futures Reach Its Highest in Three Months on Safe Haven Status - February 23, 2012 21:36

Gold futures gained on Wednesday and reached their highest in last three months as investors shifted their focus towards the safe haven status of the precious metal. Gold futures remained low the whole trading session and jumped in last hour which was termed as Bargain hunting by most analysts. Gold futures contract for April delivery […]

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. […]