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 […]

Gold Futures Jump more than $23 to close at New Record Level - July 14, 2011 23:54

Gold futures jumped more than $23 per ounce and made their new record high on Wednesday as investors were uncertain over euro zone’s debt situation and shifted their focus towards the base metal due to it safe haven status. Moreover Bernanke’s latest comments gave hints for further demand of stimulus money which creates a negative […]

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 […]

Gold Futures Gain on Positive Development over Euro Zone’s Debt Situation - July 8, 2011 18:49

Gold futures gained on Thursday on positive US economic data and positive development over the euro zone’s debt situation. As per the latest news ECB president Jean Claude Trichet decided to suspend the application of minimum credit rating threshold for debt instruments by Portuguese government. ECB president also gave a stance against the selective default […]

Crude Oil Gains on Inventories Data - July 1, 2011 0:09

Crude oil futures gained 2 percent on Wednesday as investors got optimistic for the crude oil on the news of reduced US inventories surpassing all expectations. According to the latest report of Energy Information Administration crude oil inventories decreased by 4.4 million barrels for the week ended June 24th, 2011 as compared to expected decline […]

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 […]

Gold Futures Recover on Tuesday after Three Consistent Bearish Trends - June 29, 2011 23:28

Gold futures gained on Tuesday and crossed the level of $1,500 per ounce as investors got optimistic for the base metals due to resolution for Greece’s sovereign debt crisis. Gold futures contract for August delivery gained 0.3 percent or $3.80 to $1,500.20 per ounce on Comex division of New York Mercantile Exchange. The respective contract […]