WTI up slightly; Brent sees decline
Crude oil prices were mixed Thursday after the US Commerce Department reported that consumer spending was down 0.2 percent in March while personal income fell 0.3 percent in the month. The new data, along with a quarterly report from ExxonMobil (NYSE: XOM) which showed the oil company’s earnings dropped 58 percent in the first quarter [...]
Crude prices rise despite oil inventory gains in US
Prices for crude oil rose Wednesday after the US Energy Information Administration released its weekly inventories report, which showed that while crude oil stockpiles were up twice the expected amount, gasoline inventories were significantly lower than had been anticipated. The EIA said that inventories of crude oil were up by 4.1 million barrels in the [...]
WTI, Brent prices lower on travel concerns
Crude oil prices were lower Tuesday, with declines coming on concerns that fewer people will travel as the swine flu outbreak spreads. June contracts for West Texas Intermediate crude fell 22 cents to $49.92 per barrel on the New York Mercantile Exchange while Brent crude was 65 cents lower to $49.67 per barrel on the [...]
WTI down $1.41 on demand worries
Crude oil prices were lower Monday on concerns that the swine flu outbreak that began in Mexico and has spread to other parts of the world will cut demand for fuels, including jet fuel, by discouraging people from traveling. June contracts for West Texas Intermediate crude fell $1.41 to $50.14 per barrel on the New [...]
WTI prices up slightly despite data
Crude oil prices were slightly higher just before the close of floor trade in New York Thursday but they remained below $50 per barrel as new data on US unemployment and home sales implied that a weak economy will keep demand low for some time to come. At about fifteen minutes before the close of [...]
EIA: Crude oil inventories up 3.9 million barrels last week
Crude oil prices in New York trade fell after the US Energy Information Administration said that stockpiles of crude, gasoline, and distillates all increased last week, but by just before the close of floor trade on the New York Mercantile Exchange the price of June contracts for West Texas Intermediate crude was back to 3 [...]
WTI gains, remains below $50 per barrel
Crude oil prices were up slightly Tuesday, helped by gains in equities markets and declines in the US dollar against the euro. May contracts for West Texas Intermediate crude, which expire today, added 63 cents to $46.51 per barrel on the New York Mercantile Exchange while June contracts added 19 cents to $48.70 per barrel. [...]
May WTI drops 8.8 percent in New York
Crude oil prices were substantially lower Monday as the US dollar strengthened, equities markets declined as investors worried about more losses for banks and new forecasts did not offer much hope that demand for or prices on oil will recover much anytime soon. The International Energy Agency has said that it does not expect any [...]
Crude prices rise as investors keep buying
Crude oil prices saw gains Friday as investors continued to bet that demand will rebound to use up the most stockpiles in US inventories in nearly two decades even though both the US Energy Information Administration and the International Energy Agency have recently revised their demand forecasts downward. West Texas Intermediate crude for May delivery [...]
Crude oil gains despite more in stockpiles
Crude oil prices rose Thursday despite reports that the US has more crude oil in storage than it has had in nearly 19 years. May contracts for West Texas Intermediate crude were up 73 cents to $49.98 per barrel near the close of floor trade on the New York Mercantile Exchange after going above $50 [...]
WTI down slightly after EIA inventories report
Crude oil prices were mixed Wednesday after the US Energy Information Administration reported that US crude oil inventories were up by 5.6 million barrels last week, much more of a gain than had been anticipated. May contracts for West Texas Intermediate crude were 16 cents lower to $49.25 per barrel on the New York Mercantile [...]
WTI, Brent prices slide slightly
Crude oil prices were a bit lower on Tuesday after the US Commerce Department reported that retail sales were down in the US in March and on a new report from the Energy Information Administration which said that oil production in the US will likely rise this year for the first time since 1991 but [...]
Good economic news sends crude prices higher
Crude oil prices were higher Thursday to end the holiday-shortened trading week as good news came from several fronts, including better than anticipated quarterly results from a number of sectors and fewer new jobless claims than expected last week. The Labor Department reported that 654,000 new unemployment claims were filed in the United States last [...]
EIA inventories report sends crude prices higher
The price of crude oil was higher Wednesday after the US Energy Information Administration reported that stockpiles of crude oil did not rise as much as had been expected last week. May contracts for West Texas Intermediate crude ended the floor trading session 23 cents higher to $49.38 per barrel on the New York Mercantile [...]
Crude follows New York equities lower
Crude oil prices were lower Monday as US equities markets saw declines. May contracts for West Texas Intermediate crude dropped $1.46 to $51.05 per barrel at the close of floor trade on the New York Mercantile Exchange, while Brent crude was down $1.58 to $51.89 per barrel on the ICE Futures Europe exchange in London. [...]
Oil prices lower in New York, higher in London
Crude oil prices were mixed Friday with New York prices falling slightly at the end of the session after being up earlier in the day. West Texas Intermediate crude for May delivery was down 13 cents to $52.51 at the close of trade on the New York Mercantile Exchange, but Brent crude added 72 cents [...]
WTI gains $4.25 on session
Crude oil prices were significantly higher Thursday as equities markets made substantial gains, the US dollar weakened, and a new report from the Commerce Department said that US factory orders were up 1.8 percent in February. May contracts for West Texas Intermediate crude added $4.25 to $52.64 per barrel on the New York Mercantile Exchange, [...]
Crude prices fall after EIA report
Crude oil prices were lower Wednesday after the US Energy Information Administration reported that US inventories of crude oil, gasoline and distillates such as heating oil and diesel fuel all gained last week. The EIA said that crude oil inventories rose by 2.8 million barrels, while gasoline stockpiles were up 2.2 million barrels despite a [...]
Data, new rig fire send crude prices higher.