EIA Reports Increase of 3.6 Million Barrels in Crude Oil Stockpiles - January 26, 2012 23:26

Energy Information Administration reported increase of 3.6 million barrels in crude oil inventories on Wednesday while analysts forecasted the increase of 700,000 barrels in oil inventories for the week ending January 20th, 2012. Another trade group, API reported the increase of 7.3 million barrels in the crude oil stockpiles. Gasoline inventories declined by 400,000 barrels […]

Crude Oil Declines on API Data - January 25, 2012 23:57

Crude oil futures declined on Tuesday as API reported huge increased in crude oil inventories data. The stronger greenback also exerted some pressure Crude oil futures. Commodities are always negatively correlated with US dollar as stronger greenback makes commodities expensive for investors of other currencies. Editor, Tom Essaye from 7:00’s Report commented, “Oil is lower […]

Energy Information Administration Reports Decrease in Oil Stockpiles - January 20, 2012 23:55

Energy Information Administration released its report on Wednesday and disclosed decline of 3.4 million barrels in crude oil inventories for the week ending January 13th, 2012. Analysts were expecting the increase of 2.6 million barrels in the crude oil supplies. API on the other hand reported the decline of 4.8 million barrels in crude oil […]

Crude Oil Futures Gain on API Data - January 19, 2012 23:49

Crude oil futures gained on Thursday’s Asian trading session in reaction to decrease in inventories data released by American Petroleum Institute. As per latest report of API the crude oil inventories fell 4.8 million barrels for the week ending January 13th, 2012 whereas analysts were expecting the increase of 2.6 million barrel in crude oil […]

Crude Oil Declines as Iran Threatens to Disturb Oil Tankers Traffic - January 10, 2012 23:57

Crude oil futures remained lower on Monday as investors remained cautious in reaction to Iran’s threat to disturb the oil shipping traffic. Bill O’ Neill from Logic Advisors in New Jersey commented, “Oil lacked new impetus to run higher and cautious traders may be backing off after an overdone reaction to the Iranian Hormuz threats, […]

EIA Reports Increase in Crude Oil Supplies - January 6, 2012 23:21

Energy Information Administration released its report on Thursday, according to which crude oil inventories gained 2.2 million barrels for the week ending December 30th, 2011. Analysts polled by Platts hoped for a decline of 450,000 barrels in crude oil inventories while a trade group forecasted the decrease of 4.4 million barrels. EIA also reported the […]

Crude Oil Ends at its Record High in Reaction to Tensions in Iran - January 4, 2012 23:55

Crude oil futures rallied on Tuesday and settled at its highest level since May 10th, 2011 in reaction to uncertainty over oil supplies due to Iran tensions. Moreover US manufacturing data was also better than expected further supporting the oil. As per the Institute of Supply Management, the manufacturing index gained to 53.9 for the […]

EIA Reports Unexpected Increase in Crude Oil Inventories - December 30, 2011 23:25

Crude Oil futures gained on Thursday despite increase in supplies data. The crude oil futures found support from threat of Iran’s threat to disrupt oil tankers traffic. As per latest data of Energy Information Administration crude oil supplies surged by 3.9 million barrels for the week ending December 23rd, 2011 while analysts expected the decline […]

Crude Oil Jumps in Reaction to Decrease in Inventories Data - December 22, 2011 23:53

Crude oil inventories decreased as per the latest data of Energy Information Administration which resulted in appreciation of crude oil futures. EIA reported the decrease of 10.6 million barrels in crude oil inventories for the week ended December 16th, 2011. While analysts expected the crude oil stockpiles to declined by 2.25 million barrels. On Tuesday, […]