Crude Oil slightly gains as Oil Inventories declined by 3.7 Million Barrels - July 22, 2011 0:32

Crude oil futures gained on Wednesday as Energy Information Administration reported the decline of 3.7 million barrels in crude oil inventories for the week ended July 15th, 2011. Analysts expected the oil inventories to decrease by 1.3 million barrels. The IEA reported the increase of 800,000 barrels in gasoline inventories as compared to analysts’ expectations […]

Crude Oil remains under pressure on Thursday - July 15, 2011 22:18

Crude oil remained under pressure on Thursday as investors were uncertain over the implementation of quantitative easing 3 by US Federal Reserve. Crude oil futures contract for August delivery declined $2.36 to $95.69 per barrel on Thursday at New York Mercantile Exchange. Peter Beutel, President of trading advisory firm from Connecticut commented, “A lot of […]

Crude oil Gains on Wednesday due to Decrease in US Inventories - July 14, 2011 22:39

Crude oil futures remained bullish on Wednesday as US oil inventories declined more than expectations. According to latest data of US Energy Information Administration crude oil supplies plunged by 3.1 million barrels for the week ended July 8th, 2011. Analysts forecasted the declined to be around 2.1 million barrels for the respective week. The US […]

Crude Oil Crosses $98 on Thursday on Better than Expected Inventory Data - July 8, 2011 20:17

Crude oil futures contract crossed the level of $98 per barrel on Thursday on positive inventories and jobs data. According to the latest numbers given by US Energy Information Administration crude oil inventories declined by 900,000 barrels for the week ending July 1st, 2011, whereas analysts forecasted the decline of 2.5 million barrels. Principal at […]

Oil Futures Move up on Thursday after the Record Drop a Day Earlier - June 17, 2011 21:23

Crude oil futures gained on Thursday after declining by 5 percent on Wednesday’s session. The crude oil futures contract for July delivery surged 0.2 percent of $0.14 to $94.95 per barrel on New York Mercantile Exchange. Many analysts believe that crude oil has found support at these levels. In the news Greece’s debt situation and […]

Oil Futures gain as the Greenback Weakens - May 25, 2011 20:29

Crude oil futures gained 1 percent on Wednesday as the weakening of US dollar resulted in higher demand and supply of crude oil. As per the latest report of the Energy Information Administration oil inventories increased by 600,000 barrels for the week ended May 20th while analysts were expecting a drop of 1.6 million barrels […]