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. […]

Gold Futures Rally on Greek Deal - February 22, 2012 23:17

Gold futures jumped on Tuesday making their highest in last two weeks in reaction to approval of the second bailout package for Greece. After series of meetings, finance ministers from European Union member countries agreed for a figure of 130 billion euros equivalent to $171.9 billion as the second trench of Greece’s bailout package. Broker […]

Crude Oil Reaches its Record High in 9 Months - February 21, 2012 23:48

Crude oil futures touched its record high in 9 months at $105 per barrel on Monday in reaction to the news of Iran threatening to extend its oil supply restriction on Britain and France. Iranian President said on Monday that the embargo could be extended to other European countries too if they continue their hostile […]

EIA Reports Declines in Crude Oil Inventories - February 16, 2012 23:22

Energy Information Administration released its weekly data on crude oil inventories on Wednesday and reported the decrease of 200,000 barrel in oil supplies for the week ending February 10th, 2012. Another trade group API on Tuesday reported the increase of 2.9 million barrels in crude oil stockpiles while analysts expected the increase of 1.9 million […]

Gold Futures Remain Bearish as Greenback Strengthens - February 15, 2012 22:54

Gold futures remained under pressure of the third consecutive session on Tuesday as the Greece’s bailout package negotiations were postponed while the US dollar gained in reaction to week weak US retail sales data. Gold futures contract for April delivery declined 0.4 percent or $7.20 to settle at $1,717.70 per ounce on the Comex division […]

Crude Oil Reaches its Highest in Five Weeks on Iran Tensions - February 14, 2012 23:47

Crude oil futures gained on Monday and reached their highest in five weeks in reaction to oil supply tension in Middle East by Iran. Moreover, the approval austerity measures program by the Greek parliament also resulted in high demand for the crude oil. Analyst Matt Smith from Summit Energy commented, “Crude prices are on the […]

Gold Gains On ECB’s Decision for Monetary Easing - February 10, 2012 23:41

Gold futures gained on Thursday in reaction to agreement of Greece’s leaders for austerity deal while European Central Bank decided to keep moving in direction of monetary easing. Gold futures contract for April delivery gained 0.6 percent or $9.90 to settle at $1,741.20 per ounce on the Comex trading of the New York Mercantile Exchange. […]