Daily Oil Market News
 
Daily Oil Prices & Futures News on the Blackstuff
Sunday 23rd of November 2014
5/8/2011

Crude prices higher on news, US jobs data

Story link: Crude prices higher on news, US jobs data by Elaine Frei
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 […]




13/7/2011

Crude prices rise as US inventories drop

Story link: Crude prices rise as US inventories drop by Elaine Frei
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 […]




12/7/2011

New York crude prices up on demand growth predictions

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 […]




28/6/2011

Crude prices higher ahead of US inventories report

Crude prices higher ahead of US inventories report

Crude oil prices were higher Tuesday as stock markets saw gains on optimism that Greece’s debt problems will be sorted soon, ahead of Wednesday’s US inventories report form the US Energy Information Administration and after US home prices were reported up a bit in April. August contracts for West Texas Intermediate crude were up 98 […]




16/6/2011

WTI lower in late-day trade; Brent adds $1 to price

WTI lower in late-day trade; Brent adds $1 to price

Crude oil prices were mixed in afternoon trade in New York Thursday, with July contracts for West Texas Intermediate crude down 15 cents to $94.66 per barrel, while recent reports said that Brent crude was up $1.01 to $114.02 per barrel on the ICE Futures Europe exchange in London. WTI was up earlier, but a […]




13/6/2011

Crude prices drop ahead of China, US data

Story link: Crude prices drop ahead of China, US data by Elaine Frei
Crude prices drop ahead of China, US data

Crude oil prices were lower Monday, with declines coming on worries about economic recovery around the globe and ahead of new data scheduled to be reported later in the week as China got ready to report on retail sales, consumer prices and industrial production and the US readied new figures on retail sales, consumer inflation […]




10/6/2011

Crude prices fall on Saudi decision to up output

Crude prices fall on Saudi decision to up output

Crude oil prices were lower Friday after Saudi Arabia announced during the day that it will raise its crude oil output to 10 million barrels per day, up by around half a million barrels per day from current levels. The announcement came two days after the Organization of Petroleum Exporting Countries decided to hold the […]




8/6/2011

Crude prices up on OPEC decision, US inventories report

Crude prices up on OPEC decision, US inventories report

Crude oil prices were higher Wednesday after the Organization of Petroleum Exporting Countries left production quotas unchanged after cartel members could not reach an agreement on a hike in output, although it left open the possibility of another meeting within three months to reconsider the decision. July contracts for West Texas Intermediate crude added $2.19 […]




7/6/2011

WTI drops ahead of OPEC meeting; Brent gains on drop in North Sea production

WTI drops ahead of OPEC meeting; Brent gains on drop in North Sea production

Crude oil prices were mixed again Tuesday, with prices for West Texas Intermediate crude down while Brent crude saw gains. July contracts for WTI were down 52 cents to $98.49 per barrel at just before 2 p.m. on the New York Mercantile Exchange, with declines coming ahead of a meeting of the Organization of Petroleum […]




6/6/2011

Crude prices drop ahead of OPEC meeting, on demand concerns

Crude prices drop ahead of OPEC meeting, on demand concerns

Crude oil prices were lower Monday ahead of a meeting of the Organization of Petroleum Exporting Countries, scheduled for Wednesday in Vienna, while a stronger dollar and the reopening of an oil pipeline that carries oil from Canada to the United States also pushed prices lower. There were also concerns that demand could drop in […]




27/5/2011

Crude prices mixed on data, geopolitical concerns

Crude prices mixed on data, geopolitical concerns

Crude oil prices were off their highs in afternoon trade in New York Friday, but dollar weakness and renewed concerns over political and sectarian violence in the Middle East and North Africa kept prices above $100 per barrel in New York. July contracts for West Texas Intermediate crude were up 9 cents to $100.32 per […]




11/5/2011

Crude prices drop on EIA report on US inventories

Crude prices drop on EIA report on US inventories

Crude oil prices were lower in late morning trade in New York after the US Energy Information Administration said that crude oil and gasoline inventories were up in the United States last week. In its weekly stockpiles report, the EIA said that crude oil inventories added 3.8 million barrels last week, much more than the […]




18/4/2011

Crude prices fall on S&P outlook change on US credit

Crude prices fall on S&P outlook change on US credit

Crude oil prices were lower Monday, joining most commodities aside from gold in declines after Standard & Poor’s reiterated its AAA credit rating on the United States but cut its outlook from “stable” to “negative”, citing the inability of the US government to come up with a plan to stabilize the economy. May contracts for […]




15/4/2011

Crude prices gain on US consumer confidence, Nigeria concerns

Crude prices gain on US consumer confidence, Nigeria concerns

Crude oil prices were higher Friday on new data showing that US consumer confidence was up this month and that US factory output was up 0.8 percent in March. May contracts for West Texas Intermediate crude were $1.62 higher to $109.73 per barrel at just before the close of floor trade on the New York […]




16/3/2011

Crude prices up on global concerns, US stockpiles report

Crude prices up on global concerns, US stockpiles report

Crude oil prices were higher Wednesday as investors worried about multiple crises around the world and after the US Energy Information Administration reported that US stockpiles did not go up as much as had been anticipated last week. April contracts for West Texas Intermediate crude had added 80 cents to $97.98 per barrel in midday […]




15/3/2011

Crude prices fall substantially on Japan worries, IEA report

Crude prices fall substantially on Japan worries, IEA report

Crude oil prices were substantially lower again Tuesday on continuing concerns about the situation in Japan and after the International Energy Agency reported that global oil supplies were higher last month. There was serious concern about escaping radiation from the Fukushima nuclear power plant after a third explosion hit another of the reactors there and […]




8/3/2011

Crude prices lower as OPEC considers emergency meeting

Crude prices lower as OPEC considers emergency meeting

Crude oil prices were lower in New York and London trade Tuesday after Kuwait’s oil minister said that the Organization of Petroleum Exporting Countries is thinking about holding an emergency meeting to discuss the possibility of raising production quotas in order to make up for lost production in Libya due to the unrest there. Opinion […]




7/3/2011

Brent crude declines slightly in London on Qadaffi rumors

Brent crude declines slightly in London on Qadaffi rumors

Crude oil prices were higher for most of the session as troops loyal to Libyan leader Muammar Qadaffi continued to attack anti-government forces, although rumors that Qadaffi was asking for a deal with the protesters that would allow him to leave Libya unharmed sent the price of Brent crude down later in the day. Brent […]




23/2/2011

Libya unrest sends crude prices soaring again

Libya unrest sends crude prices soaring again

Crude oil prices continued to soar Wednesday on concerns about the situation in Libya as leader Muammar Qadaffi insisted again that he will not leave office in the face of anti-government demonstrations. In early afternoon trade in New York, April contracts for West Texas Intermediate crude had added $3.72 to $99.14 per barrel on the […]




22/2/2011

Libya unrest pushes New York crude prices higher

Libya unrest pushes New York crude prices higher

The price of crude oil soared in New York as civil unrest continued in Libya, the 18th largest oil producer in the world and the holder of North Africa’s largest oil reserves. Libyan leader Muammar Qaddafi said he would not resign as demanded by demonstrators, as it was reported that at least 250 people have […]