EIA Reports Unexpected Increase in Crude Oil Inventories - October 27, 2011 23:56

Crude oil futures fell on Wednesday in reaction to unexpected increase in crude oil inventories. Crude oil futures plunged 3.2 percent or $2.97 to settle at $90.20 per barrel on the New York Mercantile Exchange. Investors were also pessimistic on situation of euro zone as the latest meeting of euro zone leaders in Brussels failed […]

Oil Futures Jump to a New 12-week High - October 26, 2011 23:58

Crude oil futures gained to its 12-week high on Tuesday in reaction to bearish stock markets. Crude oil futures contract for December delivery gained 2.1 percent or $1.90 to $93.17 per barrel on the New York Mercantile Exchange. The respective contract touched the intraday high of $94.65 per barrel on Tuesday. Many analysts hold the […]

Crude Oil Futures Fell on Profit Taking - October 21, 2011 23:49

Crude oil futures fell on Thursday as the investors went for profit taking. Crude oil futures for November delivery fell 0.9 percent or $0.81 to $85.30 per barrel on the New York Mercantile Exchange. It touched the intraday low of $84.10 per barrel. Moreover the death of Libya’s leader Moammar Gadhafi further put pressure on […]

Crude Oil Surges on Tuesday Backed by Bullish Stock Markets - October 19, 2011 23:43

Crude oil futures gained on Tuesday in reaction to stronger US stock markets. Crude oil futures for November delivery surged 2.3 percent or $1.96 to settle at $88.34 per barrel on New York Mercantile Exchange. Energy analyst, Timothy Evans from Citi Futures Perspective commented, “Market sentiment continues to be closely linked with the S&P 500 […]

EIA Reports Surprise Surge in Crude Oil Inventories - October 14, 2011 22:34

Crude oil futures declined on Thursday in reaction to increase in crude oil inventories reported by Energy Information Administration. The crude oil futures fell $1.34 to settle at $84.23 per barrel at New York Mercantile Exchange on Thursday. As per the latest data of EIA, crude oil inventories increased by 1.3 million barrels for the […]

Crude Oil Futures Fell on Wednesday on Profit Taking - October 13, 2011 21:30

Crude oil futures declined on Wednesday as investors were uncertain after release of the current Federal Open Market Committee meeting in which the officials forecasted sluggish economic growth till the end of the current year. Many analysts believed that profit taking was overdue after the bullish rally of consecutive five days. Analyst, Jim Ritterbusch from […]

Oil Futures Jump on Inventories Data - October 6, 2011 23:52

Crude oil futures gained on Wednesday in reaction to decrease in inventories data and uncertainty over US employment conditions. According to the latest data of the Energy Information Administration, crude oil inventories fell 4.7 million barrels for the week ending September 30th, 2011 whereas analysts expected the oil stock piles to increase by 2.5 million […]

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 […]