Futures Markets
Crude prices gain over $2 in New York, London
Crude oil prices rebounded Thursday after the US dollar weakened and the Commerce Department reported that the US gross domestic product was up at a 3.5 percent annual rate in the third quarter, a strong indication that the US has exited the recession.
December contracts for West Texas Intermediate crude added $2.41 to $79.87 per barrel [...]
Gasoline inventory gains push oil prices lower
Crude oil prices fell Wednesday after the US Energy Information Administration released its latest weekly US inventories report, showing that both crude oil and gasoline stockpiles rose last week.
While crude oil inventories did not rise as much as had been anticipated, adding 778,000 barrels rather than the 1.9 million barrels that had been anticipated, it [...]
Stronger dollar pushes oil prices lower
Crude oil prices were lower Monday as the US dollar strengthened after gaining early on a weaker dollar, showing that currency strength and other economic considerations, rather than fundamentals, continues to drive oil price levels, causing some analysts to worry that continuing price increases could hurt economic recovery.
December contracts for West Texas Intermediate crude were [...]
Crude prices lower on economy worries
The price of crude oil was lower Friday on concerns that the economy will not recover as quickly has had been hoped and as the dollar strengthened and equities markets fell in the US and most of Europe.
At about an hour before the close of floor trade for the week, December contracts for West Texas [...]
EIA report sends oil prices above $81 per barrel
The price of crude oil hit a new year-long high Wednesday after the US dollar weakened again, and on a report from the US Energy Information Administration which showed that crude oil inventories rose last week, but not by as much as had been anticipated.
A weekly report from the EIA said that crude oil stockpiles [...]
Stronger dollar pushes oil prices lower
Crude oil prices were lower Tuesday ahead of US inventory reports that are due tomorrow and on a stronger US dollar, although it briefly went above the $80 per barrel level for the first time this year in early trade.
November contracts for West Texas Intermediate crude, which were due to expire at the end of [...]
WTI gains on higher equities, weak dollar
Crude oil prices were higher in New York on Monday, approaching the $80 per barrel level during the day.
The gains came on a weaker US dollar and on gains in most equities markets around the world.
November contracts for West Texas Intermediate crude were up $1.05 to $79.59 per barrel at about 5 minutes before the [...]
Crude prices up on dollar, diesel demand hopes
Crude oil prices were higher Wednesday on a weaker dollar and on expectations that demand for diesel fuel will improve as shipments of holiday merchandise to stores increase as Thanksgiving and Christmas approach.
However, new US inventories data due Thursday from the US Energy Information Administration, a day late due to the federal Columbus Day holiday [...]
Crude up on weather, OPEC demand forecast
Crude oil prices were higher again Tuesday, gaining on a US dollar that weakened further and after the Organization of Petroleum Exporting Countries predicted that demand for oil will be up next year, but not by much and that recovery will be slow.
OPEC said that recovering demand will raise demand for crude oil globally by [...]
Cold US weather, lower US dollar push oil prices higher
Crude oil prices were higher Monday on a weaker US dollar and as colder weather enveloped large portions of the United States, with lower temperatures expected to last through the week in many regions.
The colder temperatures raised demand for heating oil and natural gas for heating, while the weak dollar made oil an attractive investment [...]
EIA: Gasoline stockpiles rise by almost 3 million barrels
Crude oil prices were lower Wednesday in the wake of new data from the US Energy Information Administration which showed that while crude oil inventories in the United States dropped by a million barrels last week, gasoline stockpiles rose by nearly three million barrels and distillates in storage grew more than expected.
Prices also fell after [...]
Weak dollar pushes crude oil prices higher
The price of crude oil was higher Tuesday on a weak dollar, which declined on reports that some oil producing countries are looking to remove the dollar as the currency used in oil trades.
While the nations involved, including France, Russia, Japan and China as well as some oil producers in the Middle East, denied reports [...]
Jobs data sends crude oil prices lower
Crude oil prices declined Friday after the US Labor Department issued a new report on jobs which showed that 263,000 positions were lost in the United States in September, significantly more than had been expected, sending the unemployment rate in the US to 9.8 percent, its highest level in more than two and a half [...]
US natural gas prices drop on inventories data
Natural gas prices were lower Thursday after the US Energy Information Administration said that stockpiles were up to 3.589 trillion cubic feet last week, the most in storage since records began to be kept in 1975.
There is so much natural gas in storage in the United States, according to some analysts, that storage space is [...]