Archive | October, 2009

Oil Gains Due to Optimistic U.S. GDP

2009-10-30: Oil Gains Due to Optimistic U.S. GDPCrude prices rallied more than 4% Thursday, briefly lifting the price of a barrel above $80, as confirmation the U.S. economy returned to growth boosted optimism over energy demand. Crude Oil rose by $2.91, or 4%, to $79.97 a barrel, after rising as high as $80.43. It last […] [...more]

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Crude Oil Slips Below $78 a Barrel

2009-10-29: Crude Oil Slips Below $78 a BarrelCrude Oil fell more than $2 to below $77.20 a barrel on Wednesday, after data showed a surprise build in U.S. gasoline inventories, stirring fuel demand concerns in the giant consumer. Oil prices also came under pressure after data showed sales of new U.S. homes tumbled unexpectedly in […] [...more]

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Crude Oil Slides on Rising Dollar

2009-10-27: Crude Oil Slides on Rising DollarOil fell significantly on Monday, as the U.S. Dollar made significant gains. Crude dropped nearly a Dollar to close at $78.81. This was originally sparked by fears in the U.S. over the government cutting tax credits for homebuyers. This sent fears through the equities market. Thus the obvious loser […] [...more]

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Will Crude Oil Continue to Slide?

2009-10-26: Will Crude Oil Continue to Slide?Crude oil continued to rise during most of last week’s trading, and a barrel of oil almost reached $82. However, close to the weekend, prices of oil dropped, and a barrel of crude oil is currently traded for less than $80 a barrel. The rising trend of crude oil, […] [...more]

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Will Crude Oil Continue to Slide?

2009-10-26: Will Crude Oil Continue to Slide?Crude oil continued to rise during most of last week’s trading, and a barrel of oil almost reached $82. However, close to the weekend, prices of oil dropped, and a barrel of crude oil is currently traded for less than $80 a barrel. The rising trend of crude oil, […] [...more]

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Oil Falls Slightly on Stronger Dollar

2009-10-23: Oil Falls Slightly on Stronger Dollar Crude Oil prices were slightly lower Thursday, pulling back from their 1 year high of $82 a barrel, as weekly data showed a worse-than-expected picture in employment and as the U.S. Dollar rebounded against other major currencies. Crude prices jumped on Wednesday after weekly U.S. government data showed […] [...more]

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Crude Oil Boosted by Dollar’s Weakness

2009-10-22: Crude Oil Boosted by Dollar’s WeaknessOil prices hit new highs for the year Wednesday just as the dollar fell to new lows against the EUR, showing how much the weak U.S. currency has come to dominate energy markets. The run-up in prices came within minutes of a government report showing that crude supplies in […] [...more]

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Crude Drops below $79 a Barrel

2009-10-21: Crude Drops below $79 a BarrelCrude Oil dropped below $79 a barrel as the Dollar strengthened and an industry report showed an increase in U.S crude stockpiles. The U.S is the world’s biggest energy consumer. Crude oil for December delivery dropped as much as 58 cents, or 0.7%, to $78.54 a barrel on the […] [...more]

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Crude Oil Hits $80 a Barrel!

2009-10-20: Crude Oil Hits $80 a Barrel!The price of Crude Oil hit $80.04 a barrel in Monday’s trading, a 1-year high. This occurred as a rally in global equities drove investor confidence higher. This was due to expectations that a continued economic recovery will push fuel consumption higher. Crude has now gone higher for its […] [...more]

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Crude Oil Almost Reaches $80 a Barrel!

2009-10-19: Crude Oil Almost Reaches $80 a Barrel!Crude Oil continued to rise during last week. Crude Oil saw a very strong and coherent bullish trend during almost all of last week’s trading sessions. By the end of the week a barrel of oil had risen in price by $6 and is currently trading near $79. […] [...more]

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