EIA Reports Lower Than Expected Increase in Supplies Data - March 8, 2012 23:30

Energy Information Administration released its inventories report on Wednesday according to which crude oil inventories increased by 800,000 barrels for the week ending March 2nd, 2012 as compared to analysts’ expected increase of 2 million barrels. EIA also reported decrease of 400,000 barrels in gasoline stockpiles while analysts were expecting gasoline supplies to fall by […]

Crude Oil Declines on Global Economic Worries - March 7, 2012 23:43

Crude oil futures declined on Tuesday fell to their lowest in last two weeks in reaction to rising concerns over slow recovery in global economy. Moreover, a warning over possible Greece’s default by trade group disappointed investors further weakening the demand of commodities. As the reduced growth target by China wasn’t enough to shake the […]

Crude Oil Jumps on Supply Disruption Threat - March 6, 2012 23:57

Crude oil futures fell on Monday in reaction to the escalating worries over supply disruptions triggered by China’s economic data. Investors were uncertain after the news of reduced economic growth outlook by China moreover, United States and the euro zone also came up with disappointing economic data. Chinese Premier Wen Jiabao reduced China’s economic growth […]

Crude oil Jumps to $110 per Barrel in Reaction to Pipeline Blast - March 2, 2012 23:52

Crude oil futures crossed the $110 per barrel mark on Thursday in reaction to the news of pipeline blast in Saudi Arabia. The news was reported the Iranian television however Saudi officials denied the incident. Crude oil futures contract for April delivery gained 1.7 percent or $1.77 to settle at $108.84 per barrel on the […]

Crude Oil Faces Correction After Rallying for Eight Days - February 28, 2012 23:57

Crude oil future faced correction on Monday in reaction results of g-20 meeting and higher oil prices threatening to slow the global economic recovery. Crude oil futures contract for April delivery fell 1.1 percent or $1.21 to settle at $108.56 per barrel on the New York Mercantile Exchange. Investors were uncertain after the G-20 members […]

API Reports Increase of 3.6 Million Barrels in Oil Supplies - February 23, 2012 22:33

The American Petroleum Institute released its weekly inventories data on Wednesday according to which crude oil stock piles surged 3.6 million barrels for the week ending February 17th, 2012. API reported the increase of 314,000 barrels in gasoline inventories for the respective week while distillates inventories which include heating oil and diesel surged by 630,000 […]

Crude Oil Gains as Iran Continues to Disrupt Oil Supply While Greece Reaches on a Deal - February 22, 2012 23:56

Crude oil futures rallied and settled on its highest since May, 2011 on Tuesday in reaction to the possibility of further actions by Iran to disrupt the oil supply while Greece reached on an agreement for the second trench of the bailout package. Most analysts termed the current situation as ideal for the crude oil. […]

EIA Reports Declines in Crude Oil Inventories - February 16, 2012 23:22

Energy Information Administration released its weekly data on crude oil inventories on Wednesday and reported the decrease of 200,000 barrel in oil supplies for the week ending February 10th, 2012. Another trade group API on Tuesday reported the increase of 2.9 million barrels in crude oil stockpiles while analysts expected the increase of 1.9 million […]

Crude Oil Declines on Greece Worries - February 7, 2012 23:59

Crude oil futures ended lower on Monday as investors were uncertain over the Greece’s debt situation. In reaction to uncertainty over the Greece’s second bailout package the greenback strengthened further putting pressure on the commodities. Crude oil futures for March delivery fell 1 percent or $0.93 to $96.91 per barrel on the New York Mercantile […]