Crude Oil Prices Rally as Inventory Declines and Rate Cut Hopes Emerge - June 20, 2024 19:05

On Thursday, crude oil markets saw a notable shift as oil futures surged. This was a direct reaction to the latest data from the U.S. Energy Information Administration. The latter reported a massive decrease in crude inventories. Simultaneously, the current cooling in job markets could indicate the need for the Federal Reserve interest rate cut. […]

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 […]

Crude Oil Moves down as IEA announces to Release more Oil Inventories in to World Markets - June 24, 2011 20:24

Crude oil futures plunged on Thursday after the announcement of International Energy Agency to release 60 million barrels of crude oil to world markets to cover the global shortage. Crude oil futures for August delivery declined 4.6 percent or $4.39 to $91.02 per barrel on New York Mercantile Exchange. The respective contract touched the day’s […]