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 Ends Higher on Eased Tensions from Iran - April 17, 2012 23:59

Crude oil futures ended higher on Monday after a volatile session in reaction to eased tensions on Iran’s situation. The talks on Iran’s nuclear program eased the tensions over oil supply. The oil also got boost from higher stock markets and lower greenback. Moreover, the news of Seaway pipeline, Enbridge & Enterprise Products Partners asking […]

Oil Jumps on Better Than Expected US Manufacturing Data - April 3, 2012 23:55

Crude oil futures advanced on Monday as investors were optimistic after the release of US manufacturing data. Further to add, the decision of Iraq to stop oil exports from Kurdish region further gave support to oil in global markets. As per latest data of the Institute for Supply & Management the US manufacturing index gained […]

Crude Oil Reaches its Highest in Five Weeks on Iran Tensions - February 14, 2012 23:47

Crude oil futures gained on Monday and reached their highest in five weeks in reaction to oil supply tension in Middle East by Iran. Moreover, the approval austerity measures program by the Greek parliament also resulted in high demand for the crude oil. Analyst Matt Smith from Summit Energy commented, “Crude prices are on the […]

EIA Reports Increase in Crude Oil Supplies - January 6, 2012 23:21

Energy Information Administration released its report on Thursday, according to which crude oil inventories gained 2.2 million barrels for the week ending December 30th, 2011. Analysts polled by Platts hoped for a decline of 450,000 barrels in crude oil inventories while a trade group forecasted the decrease of 4.4 million barrels. EIA also reported the […]

Crude Oil Ends at its Record High in Reaction to Tensions in Iran - January 4, 2012 23:55

Crude oil futures rallied on Tuesday and settled at its highest level since May 10th, 2011 in reaction to uncertainty over oil supplies due to Iran tensions. Moreover US manufacturing data was also better than expected further supporting the oil. As per the Institute of Supply Management, the manufacturing index gained to 53.9 for the […]

Crude Oil Futures Gains as Worries over Global Supplies Escalate - December 28, 2011 23:54

Crude oil futures jumped on Tuesday to settle above $101 per barrel as investors remained uncertain over global crude oil supplies due to tensions in Iran. Moreover better than expected US consumer confidence data further helped the crude oil to appreciate. President of Prestige Economics, Jason Schenker commented, “The Iranian statements threatening a close of […]

Crude Oil Jumps in Reaction to Decrease in Inventories Data - December 22, 2011 23:53

Crude oil inventories decreased as per the latest data of Energy Information Administration which resulted in appreciation of crude oil futures. EIA reported the decrease of 10.6 million barrels in crude oil inventories for the week ended December 16th, 2011. While analysts expected the crude oil stockpiles to declined by 2.25 million barrels. On Tuesday, […]

Crude Oil Futures Decline in Reaction to Increase in Supplies Data - December 15, 2011 23:56

Crude oil futures remained under pressure on Wednesday in reaction to stronger US dollar crude oil inventories increased. According to the latest report of the Energy Information Administration, crude oil inventories fell by 1.9 million barrels for the week ending December 9th, 2011 while analysts forecasted the decline of 2 million barrels for the respective […]