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 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 [...]
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 [...]
Crude oil prices gain over $2 in New York, London
The price of crude oil was higher Monday as the US dollar weakened and equities markets saw gains, and after comments from officials of member nations of the Organization of Petroleum Exporting Countries said that production quotas will probably remain steady.
December contracts for West Texas Intermediate crude added $2.55 to $78.90 per barrel on the [...]
Crude up on weather, OPEC demand forecast
Crude oil prices were higher again Tuesday, gaining on a US dollar that weakened further and after the Organization of Petroleum Exporting Countries predicted that demand for oil will be up next year, but not by much and that recovery will be slow.
OPEC said that recovering demand will raise demand for crude oil globally by [...]
EIA: US crude inventories fell almost 6 million barrels last week
The price of crude oil was higher after the US Energy Information Administration reported that inventories of crude dropped much more than had been expected last week.
The EIA said that crude oil stockpiles fell by 5.9 million barrels in the week ending 4 September to 337.5 million barrels, still 39.5 million barrels more than was [...]
Oil prices up ahead of OPEC meeting
The price of crude oil rose again Wednesday ahead of a meeting of the Organization of Petroleum Exporting Countries, which is set to begin after the markets close today.
October contracts for West Texas Intermediate crude was $1.08 higher to $72.18 per barrel about an hour before the close of floor trade on the New York [...]
Crude oil prices gain on weaker dollar
Crude oil prices were up the most in a month after the US dollar weakened, making oil cheaper for investors buying with other currencies and ahead of a meeting of the Organization of Petroleum Exporting Countries, set for Vienna, Switzerland tomorrow.
Before the OPEC meeting, Saudi Arabia’s oil minister said that while current global oil supplies [...]
WTI drops significantly in afternoon trade in New York
Crude oil prices were significantly lower in New York trade Friday following declines in equities markets and on disappointing quarterly earnings reports in the retail sector as sales dropped, indicating that consumers are not ready to spend much money yet.
Demand for oil and oil products remain low, with little signs that it will recover anytime [...]
WTI gains despite more crude in storage
Crude oil prices rose in New York Wednesday after the US Energy Information Administration reported that crude oil stockpiles rose again last week, adding 2.5 million barrels to bring inventories to 352 million barrels in storage.
September contracts for West Texas Intermediate crude had added $1.21 to $70.66 per barrel at just before 2 p.m. local [...]
Afternoon trade finds WTI prices slightly lower
Crude oil prices were lower in New York on Monday afternoon after equities markets declined and ahead of a report on July retail sales in the United States.
The declines also came ahead of a meeting of the US Federal Reserve where some expect either a hike in US interest rates or a signal that such [...]
Crude prices drop on equities weakness, dollar strength
Crude oil prices were lower Thursday after New York equities markets declined, but prices came off session lows after the US Labor Department reported that first-time jobless claims were down in the week ending 1 August.
Prices were also pushed lower by reports that the Organization of Petroleum Exporting Countries will increase shipments of crude oil [...]
Housing starts, geopolitical troubles send oil higher
Crude oil prices were higher Friday as demand hopes rose after the US Labor Department reported that new home starts in the United States were up by 3.6 percent in June.
August contracts for West Texas Intermediate crude added $1.54 to $63.56 per barrel on the New York Mercantile Exchange, while Brent crude gained $2.95 to [...]
WTI down 17 cents by close of floor trade
After rising to as much as $61.46 per barrel earlier in the day, August contracts for West Texas Intermediate crude ended the floor session down 17 cents to $59.52 per barrel on the New York Mercantile Exchange, it’s lowest close in two months.
At last report, Brent crude was down a cent to $60.68 per barrel [...]
EIA reports gasoline inventories up; oil prices drop
Crude oil prices were lower again Wednesday after the US Energy Information Administration said in its weekly US inventories report that while oil stockpiles were lower last week, stockpiles of gasoline and distillates both increased during the week ending 3 July.
The EIA’s new data showed that crude oil inventories fell by 2.9 million barrels last [...]
Higher inventories send oil prices lower
Crude oil prices fell Wednesday after the US Energy Information Administration reported that inventories of crude oil and distillates rose rather than falling as expected last week, and that gasoline stockpiles fell less than had been expected during the week.
West Texas Intermediate crude for July delivery was $2.43 lower to $66.12 per barrel at the [...]
Crude gains on US inventories, OPEC decision
Crude oil prices were up Thursday after the US Energy Information Administration reported that US inventories fell much more than expected last week and after the Organization of Petroleum Exporting Countries decided at its meeting in Vienna to hold production quotas steady at 24.85 million barrels per day.
The EIA said that crude oil stockpiles fell [...]
Crude prices higher ahead of OPEC meeting, EIA inventories
Crude oil prices were up Wednesday ahead of Thursday’s scheduled meeting of the Organization of Petroleum Exporting Countries, to be held in Vienna, where the cartel is expected to hold production quotas steady.
Ahead of the meeting, the Saudi Arabian oil minister said that there is no need to cut production, although some estimates say that [...]