Crude Oil Declines on Oil Supply Outlook - March 16, 2012 22:33

Crude oil futures declined on Thursday as the US government denied the rumors that they have reached a deal with United Kingdom for countries to release strategic oil reserves. On Thursday, US President, Barack Obama and UK’s Prime Minister David Cameron discussed global energy issues but did not reach any deal according to White House […]

EIA Reports Increase in Crude Oil Stockpiles - March 15, 2012 23:37

Energy Information Administration released its inventories data on Wednesday according to which crude oil supplies gained 1.8 million barrels for the week ending March 9th, 2012 while analysts forecasted the increase of 2.1 million barrels. The EIA reported decrease of 1.4 million barrels in gasoline inventories while analysts expected the decline of 1.4 million barrels […]

Crude Oil Futures Decline on Chinese Trade Deficit - March 13, 2012 23:33

Crude oil futures fell on Monday as investors were shocked on the huge trade deficit figure of China and how intensely it could affect the global economy. China reported the trade deficit of $31.48 billion for the month of February as compared to trade surplus of $27.28 billion in the month of January. The surprise […]

EIA Reports Lower Than Expected Increase in Supplies Data - March 8, 2012 23:30

Energy Information Administration released its inventories report on Wednesday according to which crude oil inventories increased by 800,000 barrels for the week ending March 2nd, 2012 as compared to analysts’ expected increase of 2 million barrels. EIA also reported decrease of 400,000 barrels in gasoline stockpiles while analysts were expecting gasoline supplies to fall by […]

Crude Oil Jumps on Supply Disruption Threat - March 6, 2012 23:57

Crude oil futures fell on Monday in reaction to the escalating worries over supply disruptions triggered by China’s economic data. Investors were uncertain after the news of reduced economic growth outlook by China moreover, United States and the euro zone also came up with disappointing economic data. Chinese Premier Wen Jiabao reduced China’s economic growth […]

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 […]

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 […]