Crude Oil Plunges on Weak Economic Outlook - October 5, 2011 21:52

Crude oil futures fell on Tuesday in reaction to weak US economic outlook. Moreover, Greece’s debt situation further escalated the uncertainty among investors. Keith Springer from Springer Financial Advisors commented, “Oil is the blood that sustains the heart of economic growth, slower economic growth means less aggregate demand leading to less production of goods and […]

Crude Oil Declines in Reaction to Increased Stockpiles - September 29, 2011 23:55

Crude oil futures fell 3.8 percent on Wednesday in reaction to increased crude oil inventories for the week. As per latest data of Energy Information Administration, crude oil inventories increased 1.9 million barrels for the last week while analysts expected no change in oil stockpiles. Gasoline inventories supplies surged 800,000 barrels while analysts expected gasoline […]

Crude Oil Futures Gains over Positive Development on European Debt Situation - September 28, 2011 23:58

Crude oil futures gained on Tuesday on the news of European officials reaching at a decision to tackle European debt situation. Crude oil futures for November delivery jumped 5.3 percent or $4.21 to settle at $84.45 per barrel on New York Mercantile Exchange. Strategist from Commerzbank commented, “The main reasons [for the gains] are a […]

Crude Oil Futures Decline on Thursday as Fed Fails to come with Solution for US Economy - September 9, 2011 23:49

Crude oil futures fell on Thursday on doubts over US economy. Investors were disappointed as US Federal Reserve’s Chairman Ben Bernanke failed to come up with any proper solution to boost US economy. Crude oil futures contract for October delivery fell 0.3 percent or $0.29 to settle at $89.05 per barrel on New York Mercantile […]

Crude Oil Futures fell on Tuesday in Reaction to Stronger Greenback - September 7, 2011 23:32

Crude oil futures dropped on Tuesday as the US dollar gained. Further raising concerns over sluggish global further resulted in pressure on oil futures. Crude oil futures contract for October delivery fell 0.5 percent or $0.43 to $86.02 per barrel on New York Mercantile Exchange. The respective contract posted slight gains on the news of […]

Oil Falls on Tuesday in Reaction to Reduced Global Demand - August 18, 2011 0:00

Crude oil futures declined 1.4 percent on Tuesday on reaction to uncertainty over oil’s global demand outlook. Selling pressure was for crude oil futures as escalating political crisis in Middle East and North Africa followed by oil spill in North Sea raised concerns. Crude oil futures contract for September delivery declined $1.23 to settle at […]

Crude Oil Futures witness Profit Taking on Friday - August 12, 2011 23:48

Crude oil futures declined on Friday as investor opted for profit taking. Some negative sentiment was also seen in the market due to reduced consumer sentiment report. President of Strategic Energy & Economic Research in Massachusetts commented, “The consumer sentiment (data) didn’t help … People figured, better to stay out for the weekend.” According to […]

Crude Oil Jumps on Wednesday on Upbeat Inventories Data - August 11, 2011 23:30

Crude oil futures gained on Wednesday on the latest US inventories data. As per latest report of Energy Information Administration crude oil inventories reduced by 5.2 million barrels for the week ended August 5th, 2011 while analysts expected the increase of 1.8 million barrels for the respective week. EIA reported the increase of 1.6 million […]

Crude Oil Plunges to its Five Weeks Lowest on Tuesday - August 3, 2011 23:55

Crude oil futures contract remained under pressure on Tuesday on latest US economic data. As per latest report of US Commerce Department consumer spending declined 0.2 percent for the month of June. US personal income gained to seasonally adjusted 0.1 percent which happens to be its smallest increase since last November. Crude oil futures contract […]