EIA Reports Minor Decline in Oil Inventories - June 7, 2012 23:59

The Energy Information Administration reported its official figures on crude oil inventories on Wednesday according to which crude oil supplies fell by 100,000 barrels for the week ending June 1st. Analysts were expecting a decrease of 1 million barrels in crude oil supplies for the respective week. Another trade group, the American Petroleum Institute reported […]

EIA Reports Increase of 2.2 Million Barrels in Crude Oil Supplies - June 1, 2012 23:01

Energy Information Administration released its inventories data on Thursday according to which US crude oil inventories increased by 2.2 million barrels for the week ending May 25th, 2012. Analysts were expecting a gain of 100,000 barrels in the crude oil inventories while another trade group American Petroleum Institute reported the decrease of 353,000 barrels for […]

Crude Oil Gains on Positive US Economic Indicators - May 25, 2012 22:22

Crude oil futures gained on Thursday after touching their lowest level since October in earlier sessions. The positive US macroeconomic data and rising equities supported the oil. US jobless claims reduced for the week while increase in durable orders was also reported by US Commerce Department. Moreover, negotiations on Iran’s nuclear program failed and ended […]

Crude Oil Recovers After Series of Bearish Sessions - May 22, 2012 23:54

Crude oil futures gained on Monday after touching its lowest in seven months in its earlier session. Weaker greenback and positive movements in Iran’s nuclear program made investors to take fresh positions in oil. Crude oil futures contract for June delivery gained 1.2 percent or $1.09 to settle at $92.57 per barrel on the New […]

Crude Oil Remain Lower on Disappointing Manufacturing Data - May 18, 2012 23:57

Crude oil futures declined on Thursday as the US stock indexes fell and manufacturing activity in Philadelphia disappointed the investors. The Philadelphia Federal Reserve’s manufacturing index declined to -5.8 in the month of May as compared to positive figure of 8.5 in April. The last negative reading for the index came in September last year. […]

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 […]