Energy Information Administration Reports Increase of 2.1 million Barrels in Oil Supplies - May 17, 2012 23:56

Energy Information Administration released its inventories report on Wednesday which reported gain of 2.1 million barrels in crude oil inventories for the week ending May 11th, 2012. Analysts were expecting the increase of 1.5 million barrels in crude oil supplies. EIA also reported gasoline stockpiles which fell 2.8 million barrels while analysts expected decrease of […]

Crude Oil Declines in Expectations of Higher Supplies - May 15, 2012 23:36

Crude oil futures plunged on Monday as Saudi Arabia’s oil minister Al-Niami indicated higher global oil inventories in his recent comments. Moreover, political crisis in Greece also boosted the attraction of the greenback eventually having a negative impact on the commodities. Crude oil futures contract for June delivery fell 1.4 percent or $1.35 to settle […]

Oil Recovers on Weaker Dollar - May 11, 2012 23:54

Crude oil futures recovered on Thursday after six consistent bearish sessions mostly backed by weaker greenback. The US dollar fell in reaction to unchanged US jobless claims in higher US trade deficit which made commodities less expensive for investors holding foreign currencies. Crude oil prices were also affected in reaction to weaker Chinese trade data […]

Crude Oil Declines on Euro Zone Worries - May 9, 2012 23:51

Crude oil futures fell on Tuesday in reaction to lower global equity markets and rising uncertainty ahead of elections in Europe. According to most analysts, concerns over the single currency region’s economic growth raised after the week US jobs data on Friday. Investors were doubtful as the both major economies the euro zone and the […]

Crude Oil Supplies Up by 2.8 Million Barrels, Reports EIA - May 3, 2012 23:49

Energy Information Administration released its inventories report on Wednesday according to which crude oil inventories surprisingly increased by 2.8 million barrels for the week as compared to analysts’ expected gain of 2.5 million barrels. Though the inventories data came in line with analysts’ expectations but what really concerned the market that total oil inventories figure […]

Crude Oil Gains on Better than Expected Manufacturing Data - May 2, 2012 23:49

Crude oil futures moved in bullish rally on Tuesday and reached their highest in last five weeks mainly backed by positive US manufacturing data. As per the latest data of the Institute of Supply Management the manufacturing index gained to 54.8 percent in month of April as compared to 53.4 percent in March. Analysts were […]

Crude Oil Declines on Profit Taking - May 1, 2012 23:52

Crude oil futures ended lower on Monday finally after the consistent four bullish sessions in the last week. Investors were also concerned over the downgraded rating of Spanish bonds by Standard & Poor. Moreover, manufacturing data from Chicago area also fell to 56.2 percent in April as compared to expectations of 60.8 percent. Manufacturing gauge […]

Crude Oil Advance on US Fed Comments - April 27, 2012 23:51

Crude oil futures gained on Thursday backed by weaker US dollar which fell in reaction to comments of US Federal Reserve indicating chances of further monetary easing. Crude oil futures contract for June delivery gained 0.4 percent or $0.43 to settle at $104.55 per barrel on the New York Mercantile Exchange. Oil has kept itself […]

Crude Oil Decline on Lower Demand Outlook - April 24, 2012 23:54

Crude oil futures declined on Monday in reaction to raising concerns over euro zone stability and slower economic data from China. Both factors made investors question the global demand outlook of the oil. However there was some positive news rumoring in the market too that International Monetary Fund has increased its lending capacity to safeguard […]