Futures Markets
US GDP data can’t pull oil prices higher
Crude oil prices fell Friday on a stronger US dollar and despite a new report from the US Commerce Department which showed that the gross domestic product was up 5.7 percent in the fourth quarter of 2009.
Despite the gains in the GDP, there is little evidence that energy consumption in the United States is beginning [...]
EIA: Natural gas in storage drops, remains above average levels
The price of natural gas futures dropped in New York trade Thursday after the US Energy Information Administration issued new data showing that while US stockpiles fell last week, they remained above the five-year average.
The EIA said that natural gas inventories dropped by 86 billion cubic feet to 2.52 trillion cubic feet last week, 1 [...]
Crude prices fall after inventories report
Crude oil prices were lower Wednesday in the wake of the latest US inventories report from the Energy Information Administration.
March contracts for West Texas Intermediate crude rose slightly right after the EIA data was issued, but by just before 2 p.m. in New York WTI for March had dropped $1.49 to $73.22 per barrel on [...]
Crude prices fall again; retail gasoline still high
Crude oil prices fell again Friday, with March contracts for West Texas Intermediate crude down $1.23 to $74.85 per barrel at about half an hour before the close of floor trade on the New York Mercantile Exchange, while March Brent crude was $1.49 percent lower on the ICE Futures Europe exchange in London.
Retail gasoline prices, [...]
Crude prices drop despite decline in oil inventories
Crude oil prices fell Thursday even though the US Energy Information Administration reported that crude oil inventories fell last week instead of rising as expected.
New data from the EIA showed that US crude oil stockpiles dropped by 400,000 barrels last week, against an expected gain of 2.8 million barrels.
Distillates inventories were also down more than [...]
Crude prices drop on economic concerns, equities declines
The price of crude oil fell Wednesday as the US dollar strengthened versus the euro, equities markets fell, and as there were indications that oil demand in China might to be as robust as had been believed.
US equities markets dropped on disappointing results from the banking sector and on a drop in new housing starts [...]
EIA: Natural gas stockpiles still above average
Crude oil prices fell slightly Thursday, while prices for natural gas were also lower after the US Energy Information Administration reported that while stockpiles fell last week, they still remain much above average.
The EIA issued new data showing that US inventories of natural gas were down by 266 billion cubic feet last week to [...]
EIA: Crude oil stockplies up 3.7 mb last week in US
Oil prices slid Wednesday after the US Energy Information Administration said that US inventories of crude oil, gasoline, and distillates all were up more than expected last week.
New numbers issued by the EIA showed that crude oil stockpiles in the United States added 3.7 million barrels last week against an expected rise of just 1.9 [...]
Crude prices drop on weather, stronger USD
Crude oil prices were lower Tuesday on a slightly stronger US dollar, which made it more expensive for investors using other currencies to make purchases, and as cold weather in Europe and the United States began to moderate.
Some locations in the US Midwest are forecast to have temperatures above freezing for the first time this [...]
Crude prices fall, but US retail gasoline continues rise
Crude oil prices were lower Monday by late morning in New York after having been up slightly earlier in the session, but the retail price for gasoline in the United States continued its upward spiral overnight.
February contracts for West Texas Intermediate crude was 32 cents lower to $82.42 per barrel at around 11:30 a.m. on [...]
Crude prices rise despite bad US jobs news
Crude oil prices were slightly higher in New York Friday despite a report from the US Labor Department which showed that the economy lost 85,000 jobs in December, more than had been expected, putting the health of the economic recovery in question.
UPS (NYSE: UPS) made the jobs outlook seem even worse as it said it [...]
Retail gasoline prices up in US despite weak demand
Retail prices for gasoline were up Thursday to levels not seen in more than a year, while the Energy Information Administration reported that US natural gas stockpiles were lower last week but still remained above normal levels for this time of year.
AAA said that pump prices for gasoline in the United States rose overnight to [...]
EIA: crude oil, gasoline inventories were up last week
Crude oil prices initially fell on Wednesday after the US Energy Information Administration reported that US stockpiles of crude were up last week, but by noon in New York prices had more than taken back the declines.
In midday trade, February contracts for West Texas Intermediate crude were up $1.00 to $82.77 per barrel, but [...]
Crude prices higher on weather forecast
Crude oil prices rose to begin the New Year on Monday, starting out at nearly twice its price at the beginning of last year on a weaker US dollar and on weather forecasts in the United States.
February contracts for West Texas Intermediate crude were $2.15 higher to $81.51 per barrel on the New York Mercantile [...]