Futures Markets
EIA: Gasoline inventories drop as crude, distillates gain
Crude oil prices rose significantly Wednesday after the US Energy Information Administration released its weekly inventories report, which showed that gasoline stockpiles declined last week.
Gasoline inventories dropped by 1.6 million barrels in the US last week, against an expected rise of 1.2 million barrels, sending prices higher even though crude oil stockpiles rose by 2.8 [...]
Demand concerns push crude slightly lower
Crude oil prices were a bit lower, dropping in both New York and London as worries over the Iran situation took a back seat to continuing concerns about demand.
Analysts worried less about the dispute between Iran and the West over Iran’s nuclear ambitions as some felt that supply disruptions were not likely even in a [...]
Crude oil gains ahead of new economic data
The price of crude oil was up Monday ahead of new data on a number of economic fronts due later in the week as the Labor Department reports on September employment numbers and others issue reports on housing prices, factory orders, and consumer confidence among other topics.
November contracts for West Texas Intermediate crude were up [...]
Crude prices rise slightly on Iran controversy
The price of crude oil ended slightly higher in New York Friday on new tensions over Iran’s nuclear enrichment program.
November contracts for West Texas Intermediate crude ended the session 13 cents higher to $66.02 per barrel on the New York Mercantile Exchange, while Brent crude gained 56 cents to $65.38 on the ICE Futures Europe [...]
Crude oil drops again on dollar, home sales data
Crude oil prices took another big drop Thursday as the US dollar strengthened and after the National Association of Realtors said that US existing home sales dropped by 2.7 percent in August, falling unexpectedly after a surge in sales in July.
The decline in home sales cast doubt on recent optimistic assessments about the speed and [...]
EIA: US crude stockpiles up 2.8 mb last week
Crude oil prices were lower Wednesday after the US Energy Information Administration said in its weekly US inventories report that crude oil, gasoline and distillates supplies were all higher last week.
Stockpiles of crude oil were up by 2.8 million barrels in the week ending 18 September, according to the EIA, against an expected decline of [...]
WTI gains ahead of inventory data
Crude oil prices were higher Tuesday as the US dollar weakened in relation to the euro and ahead of Wednesday’s new US inventories data from the Energy Information Administration, which are expected to say that crude oil stockpiles fell but gasoline and distillates levels were up last week.
With a minute or two of the close [...]
Crude prices drop more than $2 in New York
Crude oil prices fell significantly Monday on concerns about demand and ahead of an upcoming meeting by the US Federal Reserve, which will make a decision on US interest rates.
Despite recent speculation that demand for oil and oil products will expand soon, Asian oil refiner Sinopec said that demand for fuels used in industry is [...]
WTI, Brent prices see small declines
The price West Texas Intermediate crude fell Thursday by 6 cents to $72.45 per barrel for October contracts by about five minutes before the close of the floor session on the New York Mercantile Exchange after a day of up-and-down trade that saw the price go as high as $73.16 per barrel before settling lower.
Meanwhile, [...]
EIA: Crude stockpiles drop by nearly 5 million barrels
Crude oil prices were up Wednesday after the US Energy Information Administration reported that crude oil stockpiles in the United States dropped 4.7 million barrels last week, nearly 2 million more barrels of a decline than had been anticipated.
On the other hand, the EIA said that gasoline stockpiles had added half a million barrels during [...]
Natural gas prices up again
Natural gas prices rose again in New York Tuesday on the New York Mercantile Exchange, gaining despite more than ample supplies in storage and worries that there won’t be enough room to store the 12 percent more in inventory the US Energy Information Administration has forecast will flow in by October.
With winter coming, demand should [...]
Natural gas prices up despite ample inventories
Natural gas prices were higher Monday despite growing stockpiles that have storage facilities nearly full in some places and put inventories 17 percent higher than last year at this time.
Nymex futures were up 40 cents during the session to $3.36 per 1,000 cublic feet even though the US Energy Information Agency expects stockpiles to climb [...]
WTI drops back below $70 per barrel
The price of crude oil fell Friday, with October contracts for West Texas Intermediate crude dropping $2.66 to $69.28 per barrel on the New York Mercantile Exchange after it failed to rise above the month’s previous high of nearly $73 per barrel as equities markets fell in New York, but prices remained 1.9 percent higher [...]
EIA: US crude inventories fell almost 6 million barrels last week
The price of crude oil was higher after the US Energy Information Administration reported that inventories of crude dropped much more than had been expected last week.
The EIA said that crude oil stockpiles fell by 5.9 million barrels in the week ending 4 September to 337.5 million barrels, still 39.5 million barrels more than was [...]
Oil prices up ahead of OPEC meeting
The price of crude oil rose again Wednesday ahead of a meeting of the Organization of Petroleum Exporting Countries, which is set to begin after the markets close today.
October contracts for West Texas Intermediate crude was $1.08 higher to $72.18 per barrel about an hour before the close of floor trade on the New York [...]
Crude oil prices gain on weaker dollar
Crude oil prices were up the most in a month after the US dollar weakened, making oil cheaper for investors buying with other currencies and ahead of a meeting of the Organization of Petroleum Exporting Countries, set for Vienna, Switzerland tomorrow.
Before the OPEC meeting, Saudi Arabia’s oil minister said that while current global oil supplies [...]