Futures Markets
Crude prices higher ahead of EIA report
Crude oil prices were higher Tuesday after equities markets saw gains and ahead of Wednesday’s weekly US inventories report from the Energy Information Administration.
The gains came even though analysts expect the report to say that crude oil stockpiles in the US were up by more than 3 million barrels last week, increasing already high levels [...]
Crude oil back below $50 per barrel on session
Worries about the global economy drove crude oil prices lower Monday after equities markets fell significantly and analysts predicted that prices will go even lower ahead of Wednesday’s US oil inventories report from the Energy Information Administration and a separate report on joblessness in the US, also due later in the week.
May contracts for West [...]
WTI drops nearly $2 on session
Crude oil prices were lower Friday but remained above $50 per barrel on the session, near recently-set highs so far on the year.
May contracts for West Texas Intermediate crude were $1.99 lower to $52.35 per barrel around the close of floor trade on the New York Mercantile Exchange while Brent crude dropped $1.83 to $51.63 [...]
WTI, Brent crude see gains on session
Crude oil prices were higher Thursday although analysts seemed puzzled as to why prices are going up in the absence of any data supporting the gains.
The US Energy Information Administration reported Wednesday that crude oil stockpiles in the US were up again last week, and while there has been more optimism in recent days [...]
Crude drops as EIA reports gains in inventories
The price of crude oil fell Wednesday after the US Energy Information Administration reported that oil inventories were up in the week ending 20 March.
May contracts for West Texas Intermediate crude dropped $1.21 to $52.77 per barrel around the close of floor trade on the New York Mercantile Exchange, while Brent crude was down $1.89 [...]
WTI up in late session gains
Crude oil prices spent most of the session lower Tuesday as the dollar strengthened, making oil more expensive for buyers using other currencies, but by the close of trade in New York prices had risen slightly from Monday’s close.
Analysts put most of the late gains to optimism that new plans to help banks will help [...]
WTI, Brent up on equities, news
Crude oil prices were higher Monday, pulled up by positive sentiment in the wake of good news on housing and more government initiatives to try to get the economy back on track.
May contracts for West Texas Intermediate crude added $1.73 to $53.80 per barrel on the New York Mercantile Exchange after going as high as [...]
Crude adds 11 percent on week
Crude oil prices were mixed to end the week Friday but ended up 11 percent on the week after an announcement by the Federal Reserve on Wednesday that it will buy Treasury bonds and mortgage-backed securities as part of its plant to stimulate the US economy.
West Texas Intermediate crude for April delivery was down 6 [...]
WTI, Brent up on lower dollar
Oil prices were significantly higher Thursday as the US dollar fell and ahead of expiration of April contracts at the end of the trading day on Friday.
April contracts for West Texas Intermediate crude added $3.47 to $51.61 per barrel on the New York Mercantile Exchange, while May contracts were up $3.14 to $52.04 per barrel [...]
Crude prices drop on Fed action, EIA report
Crude oil prices were lower in New York after the US Energy Information Administration reported that inventories of crude oil, gasoline and distillates were all higher last week in the United States and after the Federal Reserve announced more moves to help right the economy.
The Fed’s Open Market Committee said after a two-day meeting that [...]
New York oil prices rise in volatile trade
Crude oil prices were up at the end of the floor trade session in New York on Monday but were lower at last report in London.
West Texas Intermediate crude April contracts ended $1.10 higher to $47.35 per barrel on the New York Mercantile Exchange after trading below $44 per barrel earlier in the session as [...]
Crude prices lower to end week
The price of crude oil was lower Friday ahead of Sunday’s meeting of the oil ministers from member nations of the Organization of Petroleum Exporting Countries amid uncertainty about the decision the cartel will take concerning production quotas.
Officials of the group have been sending conflicting signals about what might happen at the meeting, while there [...]
Crude oil prices see major gains
Concerns that Russia will cut oil production in concert with the Organization of Petroleum Exporting Countries, coming on reports that Russian Vice Premier Igor Sechin will attend the OPEC meeting in Vienna this weekend, sent crude oil prices soaring Thursday.
April contracts for West Texas Intermediate crude added $4.70 to $47.03 per barrel on the New [...]
Crude oil prices drop as US inventories gain
Crude oil prices dropped in New York and held steady in London after the US Energy Information Administration reported that crude oil stockpiles in the United States grew unexpectedly last week.
April contracts for West Texas Intermediate crude fell $3.38 to $42.33 per barrel by the close of floor trade on the New York Mercantile Exchange [...]
EIA demand forecast sends crude prices lower
The price of crude oil was lower Tuesday, but only after morning gains, on a new report issued by the US Energy Information Administration cut its earlier forecast of how much demand there will be globally for oil this year.
The EIA said that the price of oil will average $42 per barrel this year and [...]
Crude oil up on OPEC speculation, geopolitical tensions
The price of crude oil was higher in New York on Monday as investors bet that the Organization of Petroleum Exporting Companies will cut production quotas when it meets this weekend in Vienna as a number of officials from OPEC nations made comments indicating that the cartel wants prices to rise.
In addition, news of a [...]
Weak USD helps oil prices
Crude oil prices were up in New York trade on Friday despite more bad economic news, including a Labor Department report that the US economy lost 651,000 more jobs in February.
Prices, which have gone up since it was reported that US inventories lost 700,000 barrels of crude last week, were helped by a weaker US [...]
Crude oil prices lower on continuing demand worries
Oil prices fell Thursday after Wednesday’s gains on a report from the US Energy Information Administration that showed that crude oil inventories fell slightly last week.
April contracts for West Texas Intermediate Crude was down $1.77 to $43.61 per barrel on the New York Mercantile Exchange while Brent crude dropped $2.22 to $43.90 per barrel on [...]
Crude prices higher in London, New York
Crude oil prices ended higher in New York Tuesday on a day when prices bounced around a bit on more bad economic news.
Ford Motor (NYSE: F) said that its US sales were down 48 percent in February despite attractive offers to lure buyers into showrooms, while the National Association of Realtors said that its index [...]
Crude drops 10 percent in New York
Crude oil was 10 percent lower on the session in New York Monday as the Dow Jones Industrial Average dropped under the 7,000 level for the first time since 1997 amid a significant retreat in global equities markets.
There were mixed messages as to whether or not the Organization of Petroleum Exporting Countries will further cut [...]