Futures Markets
EIA: US crude stockpiles up less than expected
Crude oil prices varied during the session Wednesday after the US Energy Information Administration said that oil inventories were up 1.4 million barrels last week to 343 million barrels, not as much as the 2.1 million barrel gain which had been expected.
Prices rose and fell and by afternoon trade in New York April contracts for [...]
Crude prices gain despite higher US inventories
The US Energy Information Administration reported Wednesday in its weekly inventories report that crude oil in US storage added 4.1 million barrels last week to 341.6 million barrels, above the expected build of 1.1 million barrels but 3.7 percent below stockpiles last year at this time.
Additionally, the EIA said that gasoline inventories were up by [...]
Crude prices gain on better sentiment
Crude oil prices were higher Tuesday as investors were more optimistic that a plan to help the Greek economy will be forthcoming soon.
Additionally, there were hopes that demand will improve, while the US dollar weakened to make oil less expensive for buyers making purchases with other currencies.
The Energy Information Administration’s weekly US inventories report is [...]
Crude oil prices rise despite gains in US inventories
Crude oil prices were higher Thursday even after the US Energy Information Administration reported that crude inventories added 3.1 million barrels last week, up more than the expected gain of 1.65 million barrels.
At around 1 p.m. in New York, March contracts for West Texas Intermediate crude were up 83 cents to $78.16 per barrel on [...]
Crude prices up but US retail gasoline still falling
Crude oil prices were higher Tuesday after a new report showing that manufacturing activity is on the rise in the New York region and on a weaker US dollar that made purchases in other currencies cheaper for buyers.
In midday trade in New York, March contracts for West Texas Intermediate crude had added $2.82 to $76.95 [...]
Crude oil prices down on inventories, new China bank rules
Crude oil prices fell in New York after the US Energy Information Administration said that stockpiles of both crude oil and gasoline jumped more than expected last week, and on another increase in how much cash the Chinese government will require banks to keep in reserve as a way to curb lending there.
In a report [...]
Crude oil gains in New York after early declines
The price of crude oil was up slightly in New York in afternoon trade on Wednesday as March contracts for West Texas Intermediate crude added 67 cents to $74.42 per barrel on the New York Mercantile Exchange less than half an hour before the close of floor trade.
Earlier, in late morning trade, March contracts were [...]
Bad weather in US raises oil prices
Crude oil prices were higher Monday as much of the East Coast of the United States tried to recover from a storm that brought several feet of new snow to some areas and ahead of another storm which is expected to bring even more snow and cold weather.
The National Weather service has forecast below normal [...]
WTI, Brent crude drop more than $4 per barrel on session
Crude oil prices were much lower Thursday after the US Labor Department reported that first-time unemployment claims were up last week to 480,000, their highest level in seven weeks.
March contracts for West Texas Intermediate crude was down $4.31 to $72.67 per barrel near the close of floor trade on the New York Mercantile Exchange, while [...]
EIA: Crude oil inventories rise but gasoline in storage declines
Crude oil prices were unsteady Wednesday as the US Energy Information Administration released its weekly inventories report, but by less than half an hour before the end of floor trade March contracts for West Texas Intermediate crude had dropped 20 cents to $77.03 per barre on the New York Mercantile Exchange, while at last report [...]
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 [...]