Archive | September, 2009

Oil Prices See Minor Upward Correction, but Still Bearish

2009-09-29: Oil Prices See Minor Upward Correction, but Still BearishMany traders were not expecting much pressure to be on Crude Oil prices following the flare-up of 2 oil refineries in California, and the test firing of mid-range missiles in Iran, over the weekend, but the recent upward movement has left few inspired. Many analysts now […] [...more]

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Oil Prices See Minor Upward Correction, but Still Bearish

2009-09-29: Oil Prices See Minor Upward Correction, but Still BearishMany traders were not expecting much pressure to be on Crude Oil prices following the flare-up of 2 oil refineries in California, and the test firing of mid-range missiles in Iran, over the weekend, but the recent upward movement has left few inspired. Many analysts now […] [...more]

ForexYard Comments Off on Oil Prices See Minor Upward Correction, but Still Bearish

Crude Prices up Slightly on Mixed Data

2009-09-28: Crude Prices up Slightly on Mixed DataAt the end of a very volatile trading day Friday, Crude Oil futures rose slightly, for the first session in 3, following the release of mixed economic data from the U.S as well as on increased odds of broad based sanctions against Iran, the world’s 4th largest Oil […] [...more]

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China has begun refined fuel stockpiling: planner

China has already begun adding refined fuel to its state reserves as part of a larger plan to enhance the country’s energy security, a top economic planner said on Sunday. In May, an industry official told Reuters China planned to stockpile 10 million tons of fuel reserves by 2011, equivalent to about two weeks’ of […] [...more]

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Oil rebounds after worst fall in two months

Oil prices rose overnight amid a widespread feeling among investors that yesterday’s fall, the steepest in two months, was excessive. Oil for November delivery rose to $66.64 a barrel in Singapore after US light sweet crude fell 4.4 per cent to $65.89 a barrel yesterday on reports from the US Energy Department that showed an […] [...more]

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Economic Data Lowers Demand for Crude

2009-09-25: Economic Data Lowers Demand for CrudeThe price of Crude Oil was significantly lower yesterday as poor U.S. housing data and a strong Dollar weighed on the commodities market. Traders took the information as a pullback to economic growth and a sustained economic recovery, thereby reducing demand for the commodity. Oil fell below a significant […] [...more]

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Oil Drops as Inventory Rises; Demand Concern?

2009-09-24: Oil Drops as Inventory Rises; Demand Concern?Oil prices dropped nearly 4% to below $68.50 a barrel during yesterday’s trading session. This drop came after a U.S. government report showed Crude Oil inventories rose more than expected, rekindling worries that energy demand in the world’s biggest consumer will be slow to recover in the wake […] [...more]

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Oil Is Little Changed Before Data on U.S. Winter Fuel Supplies

Crude oil was little changed in New York before a report forecast to show that U.S. inventories of heating oil and other distillate fuels rose from their highest in 26 years. The Energy Department may report a 1.45 million-barrel increase in U.S. distillate fuel inventories in the week to Sept. 18, according to the median […] [...more]

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Crude Rebounds as Inventories are Expected to Decline

2009-09-23: Crude Rebounds as Inventories are Expected to DeclineCrude Oil prices rose Tuesday to above $72 a barrel, as pressure on the Dollar and expectations for a further drop in U.S. Crude inventories boosted market sentiment. Weekly petroleum data is likely to show that stockpiles of Crude fell again last week, as imports remained low […] [...more]

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Oil back above $70 on dollar, weak demand weighs

Oil rose above $70 a barrel on Tuesday, supported by a weaker dollar and recovering from a sharp fall the previous day, but bulging inventories and slow demand limited gains. U.S. crude futures rose 71 cents to $70.42 a barrel by 0927 GMT (5:47 a.m. EDT), trimming the previous day’s $2.33 drop. London Brent crude […] [...more]

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