Futures Markets
Crude prices rebound
Crude oil prices rebounded Thursday from big declines on Wednesday on improved sentiment as more corporations released positive quarterly reports and the US Labor Department reported a decline in continuing unemployment claims.
While the Labor Department said that first time jobless claims were up by 25,000 to 584,000 last week, continuing claims dropped by 54,000 to [...]
EIA: Crude oil stockpiles up 5 million barrels last week
Crude oil prices fell significantly Wednesday after the US Energy Information Administration reported that stockpiles were up unexpectedly last week.
The EIA said that crude oil inventories added 5.1 million barrels in the week ending 24 July to 347.8 million barrels in storage despite expectations that stockpiles would drop during the week, with gains coming as [...]
Brent, WTI prices lower
September contracts for West Texas Intermediate Crude were $1.62 lower to $66.76 per barrel in noon trade Tuesday on the New York Mercantile Exchange, while Brent crude was last reported to have declined $1.53 to $69.28 per barrel on the ICE Futures Europe exchange in London.
The declines came as BP (LSE: BP; NYSE: BP) and [...]
WTI remains above $68 per barrel; Brent tops $70
Crude oil prices closed higher again Monday as prices were helped by news that new home sales in the United States were up by 11 percent in June from May’s numbers.
The gain in home sales created the impression that the economy is beginning to recovery, allowing investors to ignore the fact that there is little [...]
Crude oil slightly higher after early declines
September contracts for West Texas Intermediate crude were up 23 cents to $67.39 per barrel at midday on the New York Mercantile Exchange after going lower earlier as an index of consumer sentiment showed that American buyers are feeling less optimistic this month than they did in June.
Meanwhile, at last report Brent crude had [...]
WTI at $67 per barrel, Brent nears $70 on equities gains
Crude oil prices climbed Thursday on stronger equities markets, on a gain in existing home sales, and on a weaker dollar.
The National Association of Realtors said that existing home sales in the United States were up 3.6 percent in June, rising in all regions of the country and sending the inventory of unsold homes down [...]
WTI prices fall; crude inventories down
Prices for West Texas Intermediate crude were a bit lower in New York trade Wednesday after the US Energy Information Administration released its weekly inventories data, which showed that crude oil stockpiles fell less than expected last week while gasoline and distillates inventories both increased despite a drop of 2.1 percent in refinery utilization during [...]
Crude prices rise on earnings reports
Crude oil prices were up again Tuesday as quarterly corporate earnings report continue to come in better than had been expected and ahead of tomorrow’s weekly US inventories report from the Energy Information Administration.
While gasoline stockpiles are expected have grown last week in the US, crude oil inventories are expected to have declined by a [...]
Housing starts, geopolitical troubles send oil higher
Crude oil prices were higher Friday as demand hopes rose after the US Labor Department reported that new home starts in the United States were up by 3.6 percent in June.
August contracts for West Texas Intermediate crude added $1.54 to $63.56 per barrel on the New York Mercantile Exchange, while Brent crude gained $2.95 to [...]
Crude oil prices down in afternoon trade
Crude oil prices were lower in afternoon trade Thursday after the US Labor Department said that first time unemployment claims fell last week but warned that the declines had more to do with difficulties adjusting for auto industry layoffs than with any significant improvement in conditions.
August contracts for West Texas Intermediate crude were 70 cents [...]
Crude prices rise on falling stockpiles
Crude oil prices rose on new data from the US Energy Information Administration which showed that crude oil inventories dropped last week by more than had been expected.
The EIA said that stockpiles of crude oil were down 2.8 million barrels last week to 344.5 million barrels, but they remain more than 16 percent over inventories [...]
WTI down 17 cents by close of floor trade
After rising to as much as $61.46 per barrel earlier in the day, August contracts for West Texas Intermediate crude ended the floor session down 17 cents to $59.52 per barrel on the New York Mercantile Exchange, it’s lowest close in two months.
At last report, Brent crude was down a cent to $60.68 per barrel [...]
WTI drops, is expected to decline further
The price for West Texas Intermediate crude was lower in New York Monday, and analysts predicted that prices would continue to fall throughout the week and could go as low as between $50 and $55 per barrel soon.
August contracts for WTI fell 20 cents to $59.69 per barrel by the close of floor trade on [...]
Earnings, IEA report, US confidence all hurt oil prices
The price of crude oil was lower Friday to end the week 10.3 percent lower than it began on concerns about what kind of news quarterly earnings reports, which are just beginning to come in, will say about the economy.
Some analysts and investors are worried that if household items manufacturers and retailers post declines, it [...]
Labor Dept. data pushes oil prices up slightly
Crude oil prices rose slightly Thursday after the Labor Department released its latest data on new and continuing jobless claims.
Newly filed unemployment claims in the United States dropped by 52,000 in the week ending 4 July from the week before, to 565,000, the lowest count since January.
However, continuing claims rose by 159,000 to 6.88 million [...]
EIA reports gasoline inventories up; oil prices drop
Crude oil prices were lower again Wednesday after the US Energy Information Administration said in its weekly US inventories report that while oil stockpiles were lower last week, stockpiles of gasoline and distillates both increased during the week ending 3 July.
The EIA’s new data showed that crude oil inventories fell by 2.9 million barrels last [...]
Crude oil prices continue to decline
Crude oil prices continued to decline Tuesday even though the US Energy Information Administration revised its forecast for global oil demand by 170,000 barrels per day on indications that consumption in Asia is up.
The decline came ahead of tomorrow’s weekly EIA inventories report for the United States, which is expected to show that while oil [...]
Price of crude oil drops to $64 per barrel
Crude oil prices fell Monday on worries that demand will remain weak for an extended period of time as more evidence accumulated that the economy is not recovering as well or as quickly as had been hoped.
Among data worrying analysts and investors is last week’s US jobs report, which showed that more jobs were lost [...]
WTI, Brent drop over $2 per barrel on session
Oil prices were significantly lower on Thursday ahead of a three-day holiday for US markets, which will be closed Friday for the Independence Day holiday.
Declines came after the US Labor Department reported that 467,000 jobs were lost in the US in June, over 100,000 more than had been expected, bringing the total jobs lost since [...]
EIA: crude oil stockpiles drop 3.7 million barrels
Crude oil prices fell in afternoon trade Wednesday despite a report from the US Energy Information Administration that said crude oil stockpiles in the US dropped by nearly 4 million barrels last week.
The EIA said in its weekly inventories report that US crude oil inventories were down 3.7 million barrels to 350.2 million barrels, still [...]