Crude Oil Gains on Supply Concerns - August 29, 2012 23:53

Crude oil futures gained on Tuesday as investors were concerned on oil supply and production which has been affected due to Hurricane Isaac in the Gulf of Mexico. Crude oil futures contract for October delivery surged 0.9 percent or $0.86 to settle at $96.33 per barrel on the New York Mercantile Exchange. Crude oil remained […]

Crude Oil Falls as Isaac Threatens Refinery Industry - August 28, 2012 23:54

Crude oil futures declined on Monday as the refinery industry in the Gulf of Mexico seems in highly vulnerable due to Tropical Storm Isaac. Crude oil futures contract for October delivery declined 0.7 percent or $0.68 to $95.47 per barrel on the New York Mercantile Exchange while touched its intraday high of $97.72 per barrel. […]

Crude Oil Reaches Its Highest In Seven Weeks - July 18, 2012 23:49

Crude oil futures gained on Tuesday and reached their highest level in seven weeks as investors were still uncertain after the speech of US Federal Reserve’s Chairman Ben Bernanke. Bernanke gave no hints on further easing measures and admitted that US economy is still slow. Crude oil futures contract for August delivery surged 0.9 percent […]

Oil Supplies Drop by 4.7 Million Barrels: Repots EIA - July 12, 2012 23:57

The Energy Information Administration published its weekly report on oil inventories on Wednesday according to which crude oil inventories fell by 4.7 million barrels for the week ending July 6th, 2012 while analysts forecasted the decline of 4.7 million barrels for the respective week.

Crude Oil Declines on Norway Situation - July 10, 2012 23:58

Crude oil remained under pressure on Monday despite weaker greenback. The major reason behind sudden fall of oil was the decision of the Norway’s government to impose arbitration on petroleum workers’ labor strike.

EIA Reports decrease of 4.3 Million Barrels in Oil Supplies - July 6, 2012 23:49

Energy Information Administration released its inventories report on Thursday according to which crude oil inventories declined by 4.3 million barrels for the week ending June 29th, 2012. Analysts on average expected the crude oil supplies to fell by 2 million barrels. EIA also released its data on gasoline inventories which increased by 200,000 barrels for […]

EIA Report Increase of 2.9 Million Barrels in Oil Inventories - June 21, 2012 23:51

The Energy Information Administration on Wednesday released its inventories report according to which crude oil supplies increased by 2.9 million barrels for the week ending June 15th, 2012. Analysts on the other hand analysts on average forecasted the decrease 600,000 barrels for the respective week. The EIA also reported the increase of 900,000 barrels in […]

Crude Oil Ends at its Lowest Since October 2011 - May 31, 2012 23:48

Crude oil futures declined on Wednesday and touched their lowest since October 2011. Investors were bearish on the crude oil in reaction to the Spain’s economic turmoil, lower Chinese demand outlook and stronger greenback. Crude oil futures contract for July delivery declined 3.2 percent or $2.94 to settle at $87.82 per barrel on the New […]

Crude Oil Remain Lower on Disappointing Manufacturing Data - May 18, 2012 23:57

Crude oil futures declined on Thursday as the US stock indexes fell and manufacturing activity in Philadelphia disappointed the investors. The Philadelphia Federal Reserve’s manufacturing index declined to -5.8 in the month of May as compared to positive figure of 8.5 in April. The last negative reading for the index came in September last year. […]