EIA Reports Increase in Crude Oil Inventories - December 1, 2011 23:53

The Energy Information Administration reported a sudden increase in crude oil inventories on Wednesday which put the rallying oil prices under pressure at NYMEX. As per the latest report on the EIA, crude oil stockpiles increased by 3.9 million barrels for the week ended November 25th, 2011. Analysts expected the crude oil inventories to increase […]

Crude Oil Reaches $100 in Reaction to Development in Euro Zone’s Situation - November 29, 2011 23:57

Crude oil futures reached their record level on Monday on optimism over euro zone’s debt situation. Crude oil futures contract for January delivery surged 1.5 percent or $1.44 to settle at $98.21 per barrel on the New York Mercantile Exchange. The respective contract touched its intraday high of $100.74 per barrel which happens to be […]

NYMEX Trading: Crude Oil Post Slight Gains while Gold ends Lower - November 25, 2011 23:24

Crude oil futures slightly gained on Friday after a volatile session on Friday. Analysts attributed rising US dollar as the reason for pressure on commodities. The dollar index DXY which measures the greenback’s performance against its six major rival currencies gained to 79.607 on Friday as compared to 79.099 on Wednesday’s North American trading session. […]

EIA Reports Decline in Crude Oil Inventories - November 24, 2011 23:51

Crude oil futures declined on Wednesday despite decline in inventories data by Energy Information Administration. Investors were uncertain over the latest US economic data and euro zone debt situation. Oil Analyst, Matt Smith from Summit Energy commented, “This highlights the lack of confidence in even the strongest economy in Europe, causing a flight from (euro-zone) […]

Crude Oil Jumps as Stockpiles Decrease - November 17, 2011 20:50

Crude oil futures jumped on Wednesday in reaction to decreased crude oil inventories which resulted in increased demand for the crude oil. As per latest data by the Energy Information Administration, crude oil stockpiles declined by 1.1 million barrels for the week ended November 11th, 2011, while analysts expected the decline of 1.5 million barrels […]

EIA Reports Surprise Decrease in Crude Oil Inventories - November 10, 2011 23:57

Energy Information Administration released its latest inventories data on Wednesday for the week ended November 4th, 2011. As per latest report of EIA, crude oil inventories fell 1.4 million barrels for the respective week while analysts expected crude oil stockpiles to increase by 1 million barrels. Gasoline stockpiles declined 2.1 million barrels as compared to […]

Crude Oil Futures Keep Rallying over Euro Zone’s Debt Crisis - November 9, 2011 23:30

Crude oil futures gained on Tuesday in reaction to euro zone’s sovereign debt problems. Crude oil futures contract for December delivery gained 1.3 percent or $1.28 to settle at $96.80 on the New York Mercantile Exchange. Other than worries over euro zone’s debt crisis the markets were also concerned over Iran’s nuclear weapons capabilities and […]

Crude Oil Jumps on Reduced US Jobless Claims - November 4, 2011 23:56

Crude oil futures rallied on Thursday in reaction to reduction in US jobless claims. As per latest data of the US Labor Department, initial jobless claims fell 9,000 to 397,000 for the week ending October 29th, 2011. Moreover, Greece decided to cancel the referendum for its bailout package while European Central Bank announced reduction in […]

EIA Report Unexpected Increase in Oil Inventories - November 3, 2011 23:58

Crude oil futures slightly gained on Wednesday after an unexpected increase in oil inventories reported by Energy Information Administration. Crude oil futures contract for December delivery gained 0.4 percent or $0.32 to $92.51 per barrel on the New York Mercantile Exchange. Crude oil futures were also under pressure on reduced outlook of US economy by […]