Crude oil drops on stronger dollar
The price of crude oil was lower Tuesday ahead of a weekly inventories report from the US Energy Information Administration which is expected to show that crude oil stockpiles were lower last week but that gasoline inventories were up during the week. Gains for the US dollar that made oil more expensive for buyers using [...]
WTI closes above $71 in New York
The price of crude oil jumped Monday on the news that China said it will increase its oil reserves and after rebels in Nigeria attacked another oil instillation. There were reports that China will up its strategic oil reserves by 60 percent. Meanwhile, a militant group attacked a Royal Dutch Shell oil platform in the [...]
Crude prices down slightly in afternoon trade
Crude oil prices were up most of the session Tuesday, but by 1:25 p.m. in New York the price of July contracts for West Texas Intermediate crude had dropped 31 cents below Monday’s close to trade at $70.31 per barrel on the New York Mercantile Exchange. The early gains came on news from the Commerce [...]
WTI drops $1.42 per barrel in New York
Crude oil prices fell Monday even as retail prices for gasoline in the United States continued its upward climb even though demand is still lagging. July contracts for West Texas Intermediate crude was down $1.42 to $70.62 per barrel on the New York Mercantile Exchange, while Brent crude fell $1.60 to $69.32 per barrel on [...]
Crude prices gain on IEA demand forecast
Crude oil prices were higher again Thursday after the International Energy Agency issued a prediction that oil demand will fall less than expected this year, following on a similar forecast from the US Energy Information Administration yesterday. The Paris-based IEA said that while it still expects demand to decline in absolute terms this year, it [...]
WTI gains after EIA inventories report
Prices for July contracts for West Texas Intermediate crude were at $71.79 per barrel in the day’s session before easing back to trade 74 cents above Tuesday’s close to $70.75 per barrel about half an hour before the close of trade on the New York Mercantile Exchange. The gains came after the US Energy Information [...]
WTI closes above $70 per barrel
Crude oil prices closed above $70 Tuesday and rose to a year-to-date high at $70.18 in afternoon trade in New York, but pump prices held steady at $2.619 per gallon on average nationally in the US in the same week that last year saw retail prices jump above $4 for the first time ever. West [...]
Crude prices fall after topping $70 per barrel
Crude oil prices were lower just before the close of floor trade in New York on Friday after rising earlier to above the $70 level for the first time this year. July contracts for West Texas Intermediate crude were 21 cents lower at $68.60 per barrel a few minutes before the close on the New [...]
Crude prices at year-to-date high
Crude oil reached its highest price so far this year on Thursday as fewer individuals filed first-time jobless claims last week and as the dollar weakened, making it cheaper for investors using other currencies to make purchases. A report from the US Labor Department said 15,000 fewer people signed up for unemployment benefits last week, [...]
Higher inventories send oil prices lower
Crude oil prices fell Wednesday after the US Energy Information Administration reported that inventories of crude oil and distillates rose rather than falling as expected last week, and that gasoline stockpiles fell less than had been expected during the week. West Texas Intermediate crude for July delivery was $2.43 lower to $66.12 per barrel at [...]
Manufacturing data helps crude prices
The price of crude oil was up Monday on hopes that demand for gasoline will rise after China’s manufacturing output was up for a third month in a row in May, the Commerce Department reported that US factory output did not contract as much as expected, and the US dollar weakened, making oil purchased in [...]
Data, new rig fire send crude prices higher.