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 […]

Crude Oil Gains on Positive US Jobs Numbers - July 30, 2011 0:00

Crude oil futures gained on Thursday as US jobless numbers reduced substantially. As per the latest report of US Labor Department, the jobless claims declined 398,000 as compared to 400,000. Crude oil futures contract for September delivery gained $0.04 to $97.44 per barrel on New York Mercantile Exchange after touching its day’s highest of $98.01 […]

Crude Oil moves in Bullish Drive - July 22, 2011 22:26

Crude oil futures gained on Friday as development on euro zone’s debt crisis made investors optimistic about crude oil. The light sweet crude oil futures contract for September delivery surged 0.7 percent or $0.66 to $99.69 per barrel on Friday at New York Mercantile Exchange. The respective contract jumped to day’s high of $99.95 per […]

Crude Oil remains under pressure on Thursday - July 15, 2011 22:18

Crude oil remained under pressure on Thursday as investors were uncertain over the implementation of quantitative easing 3 by US Federal Reserve. Crude oil futures contract for August delivery declined $2.36 to $95.69 per barrel on Thursday at New York Mercantile Exchange. Peter Beutel, President of trading advisory firm from Connecticut commented, “A lot of […]

Crude oil Gains on Wednesday due to Decrease in US Inventories - July 14, 2011 22:39

Crude oil futures remained bullish on Wednesday as US oil inventories declined more than expectations. According to latest data of US Energy Information Administration crude oil supplies plunged by 3.1 million barrels for the week ended July 8th, 2011. Analysts forecasted the declined to be around 2.1 million barrels for the respective week. The US […]

Crude Oil moves in a Strong Bullish Rally on Expectation of Higher Demand - June 29, 2011 23:56

Crude oil futures jumped on Tuesday as investors and most of the analysts foresee higher global demand for oil due to sluggish US economy and Greece’s debt crisis. Crude oil futures contract for August delivery jumped 2.5 percent or $2.28 to $92.89 per barrel on New York Mercantile Exchange. The surge on Tuesday was the […]