Oil prices fall in aftermath of Japan devastation - March 15, 2011 21:51

Oil prices are trading well below $100 as the news following Japan’s 8.9 earthquake last week continues to get worse. The Japanese government continues to advise of possible nuclear meltdowns and has made multiple mentions of radiation concerns around the northeast Japan region. One barrel of light sweet crude oil futures trades at $98.67 in […]

Oil prices drop below $100 on Japan earthquake, OPEC - March 11, 2011 19:59

A major 8.9 earthquake and tsunami struck Japan overnight in the United States, Friday afternoon in Northeast Asia. Japan is the third largest consumer oil and the emotional response from speculators quickly knocked light sweet crude futures below $100. In early Friday morning New York NYMEX trade, crude futures are worth $100.05 per barrel The […]

Oil prices continue higher as $5 gas talk heats up - March 9, 2011 14:41

Discussion of possible $5 per gallon gasoline prices for the busy summer driving season is on the rise as oil prices continue to move upward. One barrel of light sweet crude oil futures is down $.09 to $104.93 in early Wednesday (March 9) morning trade on the New York NYMEX. Reports on crude inventory levels […]

Crude Oil Futures Reaches $104 per barrel on Shortage in Global Supply - March 7, 2011 13:11

Crude oil futures posted heavy gains on Friday and closed on $104 per barrel as the investors were uncertain about the shortage in global oil supply created due to crisis in Libya. Crude oil futures contract for April delivery surged 2.5 percent to $104.42 on Friday at New York Mercantile Exchange as compared to $101.91 […]

Gold Soars To Record High - March 2, 2011 15:24

Gold prices reached new heights on Tuesday (March 1) as increasing global political tension and buying in China helped drive speculation. After an intraday move just over $1,435, gold closed Tuesday’s traded at a record closing price of $1,433.20. One ounce of gold currently fetches $1,432.50 in early Wednesday morning New York NYMEX trade. According […]

Gold Advances on Middle East Political Crisis - March 2, 2011 14:42

Gold futures posted gains in Asian trading session on Tuesday on fears of escalating tensions in North Africa and Middle East. Investors are shifting their focus towards the gold due to safe haven and risk free status. Analysts from Barclays Capital commented, “Continued geopolitical turmoil across the Middle East and North Africa region has boosted […]

Crude Oil Posts Its Highest Weekly Gain Since September 2008 - February 27, 2011 14:36

The US crude oil future surged on Friday and reported the highest weekly gain since September 2008 over political turmoil and escalating riots in Libya. On Thursday the crude oil price reached their highest in last 2.5 years.

Gold Futures Advance in Reaction to Political Unrest in Libya - February 26, 2011 1:43

Gold futures gained in electronic trading at Comex division of New York Mercantile Exchange as the riots and political unrest escalates in Libya. Gold futures contract for February delivery moved up 0.1 percent to $1,415 per ounce on Thursday’s Asian trading session. The crisis and clashes of public with government in Libya has made investors […]

Gold moving closer to all-time high - February 26, 2011 1:41

Gold prices have slipped a bit to close out the week, but an ounce of gold is holding steady over $1,400 as a run toward late December’s all-time intraday trading high of $1,431.50 appears inevitable in the coming weeks.