Futures Markets
Crude prices drop another $3 per barrel in New York trade
Crude oil prices were down more than $3 per barrel again Monday in afternoon trade in New York as investors reacted to the downgrade of US credit by Standard & Poor’s late Friday, when the ratings agency cut its rating on US credit from AAA to AA-plus, with a negative outlook. The downgrade exacerbated continuing [...]
Crude prices higher on news, US jobs data
Crude oil prices were on a roller coaster Friday, with contracts for West Texas Intermediate crude in New York wavering between gains and losses after the US Labor Department reported that the US economy added 117,000 jobs in July, more than expected, sending the unemployment rate there down to 9.1 percent from 9.2 percent in [...]
WTI, Brent crude drop more than $4 per barrel
Crude oil prices were down substantially Thursday as equities markets also plunged around the world. September contracts for West Texas Intermediate crude were down $4.16 to $87.77 per barrel in afternoon trade on the New York Mercantile Exchange, while at last report Brent crude had dropped $4.31 to $108.92 per barrel. The declines came as [...]
Data, inventories send crude prices lower
The price of crude oil dropped Wednesday on disappointing data and news from the United States and after the US Energy Information Administration reported that crude oil, gasoline and distillates inventories all grew last week. September contracts for West Texas Intermediate crude were down $2.12 to $91.67 per barrel at nearly 1:30 p.m. on the [...]
Crude drops on Commerce Department data on consumer spending
Crude oil prices were lower in afternoon trade in New York on a stronger dollar and as the Commerce Department released disappointing new figures on consumer spending and personal incomes, providing more evidence that the US economy could be slowing down. September contracts for West Texas Intermediate crude were down $1.13 to $93.76 per barrel [...]
Crude prices lower on US manufacturing data
Crude oil prices were lower in afternoon trade in New York Monday as bad news on US manufacturing caused concerns about demand and as investors worried that a new deal on the US debt ceiling might not have to votes to gain passage. September contracts for West Texas Intermediate crude was down 91 cents to [...]
Crude prices drop on US gdp data
Crude oil prices were lower in afternoon trade on Friday on disappointing gross domestic product data from the US Commerce Department and on the postponement Thursday night of a vote in the House of Representatives regarding raising the debt ceiling in the United States. September contracts for West Texas Intermediate crude were down $1.66 to [...]
Crude ends slightly higher in New York trade
Crude oil prices were mixed Thursday on mixed news and data. September contracts for West Texas Intermediate crude ended the session up 4 cents to $97.13 per barrel on the New York Mercantile Exchange after being down earlier, while at last report Brent crude was down 13 cents to $117.30 per barrel on the ICE [...]
EIA: Crude oil inventories unexpectedly higher last week in US
Crude oil prices dropped Wednesday after the US Energy Information Administration said that US stockpiles of crude, gasoline and distillates all increased by more than expected last week. September contracts for West Texas Intermediate crude were $1.65 lower to $97.94 per barrel in afternoon trade on the New York Mercantile Exchange, while Brent crude was [...]
Weaker US dollar, stronger US consumer confidence boost crude prices
Crude oil prices were higher near the end of floor trade in New York Tuesday on a weaker US dollar and after US consumer confidence was reported higher in July. September contracts for West Texas Intermediate crude were up 52 cents to $99.72 per barrel at about twenty minutes before the close of floor trade [...]
Crude prices drop on demand worries amid debt concerns
Crude oil prices were lower in afternoon trade on Monday despite a weaker US dollar, which would usually attract investors making purchases in other currencies. September contracts for West Texas Intermediate crude were down by 65 cents to $99.22 per barrel at just before 1:30 p.m. on the New York Mercantile Exchange, while Brent crude [...]
Crude prices higher in New York, London
Crude oil prices were higher in afternoon trade Friday after the European Union agreed to a plan to help out Greece with its debt problems and on hopes that the dispute over raising the debt ceiling in the United States will be resolved soon. September contracts for West Texas Intermediate crude were up 75 cents [...]
Crude prices rise on EU meeting news, IEA statement on reserves
Crude oil prices were higher in afternoon trade in New York on Thursday on good news from a meeting of European Union officials in Brussels regarding the region’s debt problems and after a statement from the International Energy Agency ruling out more releases from oil reserves. September contracts for West Texas Intermediate crude was up [...]
Crude prices hurt by US home sales data after early gains on inventories data
Crude prices were mixed in afternoon trade on Wednesday after the US Energy Information Administration released its weekly inventories report, which showed stockpiles of crude oil dropped more than expected last week but that gasoline and distillates inventories were up more than anticipated. August contracts for West Texas Intermediate crude were down 14 cents to [...]
US housing data helps crude oil prices higher
Crude oil prices were higher Tuesday on new data showing US housing starts up in June, raising hopes that the economy is on the way to recovery, which could help oil demand. August contracts for West Texas Intermediate crude were up $2.47 to $98.40 per barrel at nearly 2 p.m. on the New York Mercantile [...]
Crude prices drop on debt worries, dollar
Crude oil prices were lower in afternoon trade in New York on Monday as investors worried about debt in Europe and the United States and on a stronger US dollar. August contracts for West Texas Intermediate crude were down $1.74 to $95.50 per barrel at nearly 2 p.m. on the New York Mercantile Exchange, while [...]
Crude prices rise on investor concerns about US dollar
Crude oil prices were higher Friday as investors looked to commodities as an alternate investment on concerns that debt problems in the US will drive the value of the dollar lower. August contracts for West Texas Intermediate crude were up $1.04 to $96.73 per barrel in afternoon trade on the New York Mercantile Exchange, while [...]
Crude prices decline on Bernanke comments to Congress
Crude oil prices were lower Thursday as the US dollar strengthened and as Federal Reserve Chairman Ben Bernanke continued his testimony before a congressional committee for a second consecutive day. August contracts for West Texas Intermediate crude were down $2.89 to $95.16 per barrel in afternoon trade in New York, while Brent crude was lately [...]
Crude prices rise as US inventories drop
Crude oil prices were higher Wednesday as the US dollar weakened and the US Energy Information Administration issued their weekly US inventories report, which showed that crude stockpiles dropped by more than expected last week. August contracts for West Texas Intermediate crude were up $1.04 to $98.47 per barrel at around half an hour before [...]
New York crude prices up on demand growth predictions
Crude oil prices were mixed about half an hour before the close of trade in New York Tuesday in anticipation of tomorrow’s US stockpiles report and after the Organization of Petroleum Exporting Countries and the US Energy Information Administration both revised their demand growth predictions for this year. August contracts for West Texas Intermediate crude [...]