Futures Markets
Crude prices jump despite weak demand
Crude oil prices were higher Thursday, in a shortened trading session due to the Christmas holidays, as the Labor Department issued new data showing that there were 28,000 fewer new jobless claims filed last week in the United States.
February contracts for West Texas Intermediate crude ended the session $1.38 higher to $78.05 per barrel on [...]
EIA: US crude inventories drop nearly 5 million barrels last week
Crude oil prices were up after the US Energy Information Administration said Wednesday in its weekly inventories report that crude oil stockpiles fell much more than expected last week, while gasoline inventories were down by nearly a million barrels when they were expected to rise by more than that.
In the week ending 18 December, US [...]
Crude prices rise on dollar, data in weak trade
The price of crude oil was higher Tuesday, regaining early declines after the US dollar dropped gains versus the euro.
February contracts for West Texas Intermediate crude added 68 cents to $74.40 per barrel on the New York Mercantile Exchange, while February Brent crude was up 38 cents to $73.37 per barrel on the ICE Futures [...]
Stronger dollar sends oil prices lower
Crude oil prices were lower in afternoon trade on a stronger dollar after going higher earlier on reports of attacks on pipelines in Nigeria and Iraq.
Nigerian rebels were said to have attacked a pipeline in the southern part of that African nation on Saturday as a protest against what they called lack of progress in [...]
Inventories decline sends natural gas prices higher
Natural gas prices were higher Thursday after the US Energy Information Administration reported that inventories dropped the most ever last week.
The EIA said that stockpiles of natural gas fell about 207 billion cubic feet to 3.57 trillion cubic feet last week, with drawdowns coming as cold weather hit major population centers in the US [...]
EIA: crude oil, distillates stocks fall more than anticipated
Crude oil prices saw gains Wednesday after the US Energy Information Administration reported that crude oil and distillates inventories fell more than expected last week and gasoline stockpiles grew less than had been anticipated.
A weaker US dollar also helped prices higher.
January contracts for West Texas Intermediate crude were up $2.51 to $73.20 per barrel at [...]
Oil gains on OPEC consumption forecast
With about half an hour left in the floor trade session in New York on Tuesday, the price of January contracts for West Texas Intermediate crude oil had risen $1.14 to $70.65 per barrel on the New York Mercantile Exchanbge, aftter an upwardly revised estimate of 2010 consumption from the Organization of Petroleum Exporting Countires.
OPEC [...]
Worries about demand send New York crude prices lower
Crude oil prices were mixed Monday, falling slightly in New York trade about fifteen minutes before the close of floor trade while gaining a bit more in London.
The declines in New York came as investors worried about lagging demand as well as on dropping factory output in Europe, and on little gain in sentiment in [...]
EIA: oil products consumption lowest in 5 months
Crude oil prices were lower Wednesday after the US Energy Information Administration reported that while crude oil inventories were lower last week, stockpiles of gasoline and distillates grew.
Additionally, the EIA said that consumption of all oil products dropped last week to its lowest level in five months.
At about half an hour before the close of [...]
Crude drops on dollar, manufacturing news
Crude oil prices were lower again Tuesday, dropping for a fifth session in a row, as the US dollar strengthened and on bad new about manufacturing from Europe.
A new report showed that industrial output in German was 1.8 percent lower in October, while the Confederation of British Industry said a new survey revealed that 25 [...]
Crude prices lower after comments
Crude oil prices fell Monday on remarks from US Federal Reserve chairman Ben Bernanke that indicated recovery of the US economy will not come quickly.
January contracts for West Texas Intermediate crude was $1.67 lower to $73.80 per barrel on the New York Mercantile Exchange, while at last report, January Brent crude dropped 75 cents to [...]
Crude prices mixed, fall in New York
Crude oil prices fell slightly in New York trade on Thursday after the Institute for Supply Management services index fell unexpectedly and as the US dollar strengthened.
The ISM reported that their services index was at 48.7 in November, down from 50.6 in October, returning to contraction in the sector, which caused concerns that the US [...]
EIA inventories push crude prices lower
Crude oil prices were lower Wednesday after the US Energy Information Administration reported in its weekly inventories report that crude oil and gasoline stockpiles grew in the US last week.
At about an hour before the close of floor trade, January contracts for West Texas Intermediate crude had dropped $1.52 to $76.86 per barrel on the [...]
US, China manufacturing reports boost oil prices
The price of crude oil was up Tuesday as the US dollar weakened and several reports raised hopes that demand for oil and oil products could begin to improve soon.
January contracts for West Texas Intermediate crude had added $1.57 to $78.85 per barrel at just before 1:30 p.m. local time on the New York Mercantile [...]