Archive | April, 2010

Crude Stable above $85 a barrel

2010-04-30: Crude Stable above $85 a barrel Crude Oil continued its advance Thursday, boosted by the release of positive economic data from the EU and U.S., raising the level of confidence in the global economic recovery. Crude oil for June delivery rose 35 cents, or 0.4%, to $85.52 a barrel, in electronic trading on the […] [...more]

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Crude Struggling to Maintain Prices Above $83 a Barrel

2010-04-29: Crude Struggling to Maintain Prices Above $83 a BarrelAfter dropping as low as $81.40 a barrel yesterday, crude oil managed to stage a mild comeback in evening trading. Prices were largely boosted due to the latest news regarding the formation of a Greek rescue plan. That being said, crude is currently stuck around the […] [...more]

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Weekly Inventories Data – April 28, 2010

U.S. crude oil refinery inputs averaged 15.0 million barrels per day during the week ending April 23, 278 thousand barrels per day above the previous week’s average. Refineries operated at 89.0 percent of their operable capacity last week. Gasoline production decreased last week, averaging 9.2 million barrels per day. Distillate fuel production increased last week, […] [...more]

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Crude Oil Prices Rise as Recovery Concerns Take Over

2010-04-28: Crude Oil Prices Rise as Recovery Concerns Take Over The S&P group, rating downgrade, took over Tuesday’s trading session sending riskier assets lower including Crude Oil prices to below $83, a strong support level. Barrel of Oil opened at $82.30, higher compared to yesterday’s price during New York closing. Oil prices declined mainly on […] [...more]

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Crude Oil Shows Bullish Chart Pattern

2010-04-27: Crude Oil Shows Bullish Chart PatternThe price of spot Crude Oil declined sharply yesterday as traders were concerned that overly strong economic data may lead the Federal Reserve to raise interest rates. Economic data from the previous week was stronger than expected for new home sales and durable goods. A rise in the interest […] [...more]

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Crude Oil Recovers to $85 a Barrel

2010-04-26: Crude Oil Recovers to $85 a BarrelCrude Oil saw mixed trading during last week’s session. With the beginning of last week’s trading, Crude Oil saw a bearish trend and dropped below $82 a barrel. However by Thursday Crude Oil began to recover, and is currently trading at $85.50 a barrel. It seems that speculations […] [...more]

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The return of oil

Natural gas piped over the Canada-U.S. border and into the New York City borough of Queens helps light up about one in four bulbs in Manhattan’s shimmery Times Square. Beyond serving a quarter of the Big Apple’s base load electricity needs, Canada is the United States’ biggest source of imported crude oil. Minnesota, for example, […] [...more]

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Crude Oil Prices Rebounded Strongly

2010-04-23: Crude Oil Prices Rebounded Strongly Crude Oil price started yesterday’s trading lower, reaching as low as $82 per barrel. The price decline came along with fears from the European economy and a strongly hit EUR. However, later during yesterday’s trade after the release of positive existing home sales and unemployment claims by the U.S., […] [...more]

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Spot Crude Oil Prices Lower from Resurgent Dollar

2010-04-22: Spot Crude Oil Prices Lower from Resurgent DollarEconomic woes seem to be putting pressure on the price of Crude Oil lately. The transportation fiasco in Europe combined with depressed risk appetite has pushed safe-haven investments such as the US Dollar and Japanese Yen back into a bullish posture. The result is that commodity prices […] [...more]

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Crude Extends Gains Past $84 a Barrel

2010-04-21: Crude Extends Gains Past $84 a Barrel Oil prices rose on Tuesday after stunning earnings by Goldman Sachs Group Inc improved risk appetite and some European flights resumed as the threat from Iceland’s volcanic ash cloud receded. In addition, analysts said that the prices were higher because of stronger equities and lower risk aversion. […] [...more]

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