Futures Markets
Crude gains on dollar weakness, US data
Crude oil prices were up in New York just before the close of the floor session after a day of volatile trade, falling and rising directly opposite to declines and gains for the US dollar, with a barrel of oil gaining in price as the dollar fell, making crude cheaper for buyers using other currencies [...]
Crude oil in volatile trade on excess supplies
Crude oil prices were lower for much of the session Thursday, falling as far as $69.83 per barrel in New York trade at one point, but by close to the end of the floor trade session, West Texas Intermediate crude for October delivery was up 91 cents to $72.34 per barrel on the New York [...]
EIA: US crude stockpiles up slightly last week
Crude oil prices were lower in afternoon trade in New York on Wednesday after the US Energy Information Administration reported that crude inventories were up slightly last week, following a surprise decline in stockpiles the previous week.
At nearly 1:30 p.m. on the US East Coast, October contracts for West Texas Intermediate crude were 91 cents [...]
Crude prices down after US deficit forecast
Crude oil prices were lower in early afternoon trade Tuesday as investors took profits and after the Congressional Budget Office issued a report predicting that the United State will accumulate a deficit of $7 trillion over the next ten years.
Before the deficit forecast was released, prices were up as West Texas Intermediate crude rose to [...]
New York oil prices up near close on sentiment
Crude oil prices were higher in New York Monday on gains in equities markets and comments from Federal Reserve Chairman Ben Bernanke that the economy is recovering, both of which fed into improving sentiment that made investors more willing to buy.
Also tending the support oil prices was a declaration over the weekend from rebels in [...]
WTI, Brent prices rise on data
Crude oil prices were higher again Friday as news and data looked mostly optimistic in relation to recovery from the recession.
European and US equities markets were higher, the latest news on US home resales was good, and Federal Reserve Chairman Ben Bernanke said at a conference that the US economy should begin growing again soon.
European [...]
Crude prices volatile on data
Crude oil prices were volatile Thursday after the US Labor Department reported that initial jobless claims were up again last week.
Down during the session, September contracts for West Texas Intermediate crude were up 20 cents to $72.62 per barrel shortly before the end of the floor trade session on the New York Mercantile Exchange.
With September [...]
EIA: Crude stockpiles drop by 8.4 million barrels
Crude oil prices jumped Wednesday after the US Energy Information Administration reported that crude oil inventories in the United States fell unexpectedly as imports were down to their lowest level in nearly a year.
Some analysts said that the drop in inventories could have been caused by companies holding supplies offshore until prices go higher.
The EIA [...]
WTI prices gain on data, weather
Crude oil prices were up Tuesday in New York ahead of a new report on US stockpiles due Wednesday, new data from the Commerce Department on home construction and as a hurricane and a tropical storm brew in separate areas.
Weather forecasters and oil analysts are watching the approach of Hurricane Bill, now a category 2 [...]
Crude oil prices fall despite hurricane news
Crude oil prices were lower again Monday amid analyst predictions that prices could drop as low as $59 per barrel soon as consumer sentiment remains low, keeping demand for oil and oil products muted while inventories continue to build.
Even the threat of the year’s first hurricane could not push prices higher as predictions were that [...]
WTI drops significantly in afternoon trade in New York
Crude oil prices were significantly lower in New York trade Friday following declines in equities markets and on disappointing quarterly earnings reports in the retail sector as sales dropped, indicating that consumers are not ready to spend much money yet.
Demand for oil and oil products remain low, with little signs that it will recover anytime [...]
WTI, Brent see more gains
Crude oil prices were up again Thursday as the US dollar declined for the third session in a row and even though new US data showed that despite the optimism voice yesterday by the Federal Reserve, there are signs that the economy is still troubled.
The Department of Commerce reported that retail sales in the US [...]
WTI gains despite more crude in storage
Crude oil prices rose in New York Wednesday after the US Energy Information Administration reported that crude oil stockpiles rose again last week, adding 2.5 million barrels to bring inventories to 352 million barrels in storage.
September contracts for West Texas Intermediate crude had added $1.21 to $70.66 per barrel at just before 2 p.m. local [...]
WTI closes below $70 per barrel in New York
Crude oil prices fell below $70 per barrel in New York Tuesday after going higher earlier on numbers showing that imports of crude into China were up 42 percent in July.
Prices fell, however, after the Commerce Department reported that wholesale inventories in the United States dropped by 1.7 percent in June, much more than expected, [...]
Afternoon trade finds WTI prices slightly lower
Crude oil prices were lower in New York on Monday afternoon after equities markets declined and ahead of a report on July retail sales in the United States.
The declines also came ahead of a meeting of the US Federal Reserve where some expect either a hike in US interest rates or a signal that such [...]
Unemployment rate pushes oil prices up at midday in New York
Crude oil prices were up slightly in New York in midday trade after moving between gains and losses after the US Labor Department reported that the unemployment rate dipped unexpectedly in July.
September contracts for West Texas Intermediate crude were up 10 cents to $72.04 per barrel at just past noon on the New York Mercantile [...]
Crude prices drop on equities weakness, dollar strength
Crude oil prices were lower Thursday after New York equities markets declined, but prices came off session lows after the US Labor Department reported that first-time jobless claims were down in the week ending 1 August.
Prices were also pushed lower by reports that the Organization of Petroleum Exporting Countries will increase shipments of crude oil [...]
EIA: US crude oil inventories up 1.7 mb last week
Crude oil prices were up in afternoon trade Wednesday after falling earlier on new data from the US Energy Information Administration showing that US crude oil inventories were up last week.
At just about half an hour before the close of floor trade on the New York Mercantile Exchange, September contracts for West Texas Intermediate crude [...]
WTI down in afternoon trade
Crude oil prices fluctuated Tuesday, turning lower in New York as it was down 73 cents to $70.85 per barrel for September contracts for West Texas Intermediate less than half an hour before the close of floor trade ended on the New York Mercantile Exchange.
Meanwhile, at last report Brent crude had added 52 cents to [...]
Oil prices up on manufacturing data
Oil prices jumped again Monday as the US dollar weakened and new data showed that manufacturing was up in the United States, China and the UK in July.
With China’s Purchasing Managers’ Index at 53.3 in July compared to 53.2 in June, according to the Federation of Logistics and Purchasing, and the Institute for Supply Management [...]