Archive | May, 2010

Crude Oil Remain Stable around $74 a Barrel

2010-05-31: Crude Oil Remain Stable around $74 a BarrelCrude oil corrected some of its losses from the past few weeks. After dropping to $67 a barrel, crude saw a sharp rise, and a barrel of crude oil is currently traded around $74. Crude oil’s rise came as a result of the positive data from the […] [...more]

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Crude Soars As Risk Taking Returns

2010-05-28: Crude Soars As Risk Taking ReturnsCrude futures rallied to a two week high Thursday as the EUR appreciated against the USD and global equity markets soared. Light, sweet crude for July delivery settled $3.04, or 4.3%, higher at $74.55 a barrel on the New York Mercantile Exchange. Spot Crude is currently trading at $75.30 […] [...more]

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Crude Receives a Boost Following Inventories Report

2010-05-27: Crude Receives a Boost Following Inventories ReportAfter consistently falling in price over the last month, crude oil prices received a boost after a report showed U.S. inventories to be higher then expected. While this would normally lead to a drop in prices, it appears that demand in the world’s largest energy consumer is also […] [...more]

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Weekly Inventories Data – May 26, 2010

U.S. crude oil refinery inputs averaged 15.1 million barrels per day during the week ending May 21, 107 thousand barrels per day below the previous week’s average. Refineries operated at 87.8 percent of their operable capacity last week. Gasoline production decreased last week, averaging 9.0 million barrels per day. Distillate fuel production decreased last week, […] [...more]

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Crude Falls More than 2% a barrel

2010-05-26: Crude Falls More than 2% a barrel Oil prices fell $1.46, or 2.1%, to $68.75 a barrel joining global stocks, the EUR and most metals with the exception of gold in a broad retreat due to ongoing fears about a potential European debt crisis and renewed tensions on the Korean peninsula. Market players noted […] [...more]

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Euro-Zone News Drops Crude below $70 a Barrel

2010-05-25: Euro-Zone News Drops Crude below $70 a BarrelInvestor fears regarding the latest European financial news translated into a sharp drop in value for crude oil. Crude, which just yesterday was trading around the $70.75 price level, has since dropped to around $69.50. As the U.S Dollar has increased over the last 24 hours, oil […] [...more]

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Crude Oil Stabilizes Around $70 a Barrel

2010-05-24: Crude Oil Stabilizes Around $70 a Barrel Crude Oil saw a relatively peaceful trading during last week’s session. Crude Oil was traded around $70.00 a barrel during most of the week, and as the new trading week begins, Crude is still trading at $70. Crude Oil’s freefall was halted during last week’s trading. This […] [...more]

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Crude Oil Expected to Continue Falling

2010-05-21: Crude Oil Expected to Continue FallingThe price of Spot Crude Oil continues to plummet due to the momentum-gaining strength of the US Dollar. Despite the EUR’s recent progress against most other currencies, the spiking value of the greenback seems to appear as if it’s here to stay, for now. What this means is that […] [...more]

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Oil settles 2 percent lower after wild swings

Oil prices resumed their May swoon Thursday as concerns over the European economy had traders bailing out of energy commodities. The session was a volatile one. An early 2 percent gain had turned into an 8 percent decline by early afternoon on the New York Mercantile Exchange. Prices settled about 2 percent lower, the 12th […] [...more]

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Oil Ends Lower in Choppy Trading

2010-05-20: Oil Ends Lower in Choppy Trading Crude-oil failed to post any sizeable gains Wednesday, as investors remained cautious about the global economic recovery and, by extension, about the demand for oil. Crude prices declined 22 cents, or 0.3%, to settle at $72.48 a barrel as investors continued to be worried about the euro and […] [...more]

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