U.S. crude oil refinery inputs averaged 14.7 million barrels per day during the week ending September 24, 381 thousand barrels per day below the previous week’s average. Refineries operated at 85.8 percent of their operable capacity last week. Gasoline production increased last week, averaging 9.2 million barrels per day. Distillate fuel production decreased slightly last [...] [...more]
Crude Oil (WTI) – $76.54 // $0.36 // 0.47% Commentary: It was another muted day for crude oil price action, as the commodity dipped $0.34, or 0.44%, on the session. Prices continue to consolidate last week’s gains, as elevated inventory levels prevent oil from surging in step with the equity markets. Nevertheless, continued gains in [...] [...more]
Oil fell towards $76 on Tuesday, tracking Asian equities lower on lingering concerns about euro-zone debt, which also boosted the dollar. U.S. crude for delivery in November fell 25 cents to $76.27 a barrel at 0054 GMT, while ICE Brent slid 35 cents to $78.22. U.S. crude oil stockpiles probably fell by 400,000 barrels last [...] [...more]
Crude Oil (WTI) – $76.22 // $0.30 // 0.39% Commentary: Monday was a quiet day for crude, with prices ending the session $0.03, or 0.04%, higher. U.S. equity markets sold off about 0.5% on the day, so in that context, crude oil’s “quiet day” was a strong showing. Overall, oil looks like it is consolidating [...] [...more]
The price of Crude Oil continues to fluctuate between $71 and $78 a barrel, with a current price settling yesterday just under $77. Speculative reports about a decline in inventories have fueled a number of analyses to predict an impending rise in oil prices from a boost in consumption among the larger economies. The United [...] [...more]
Prepared by Jamie Saettele After reversing just shy of its 61.8% retracement, crude declined sharply but not in a clear impulsive manner. As such, another test and push above 7890 cannot be ruled out. A cautious bearish bias is warranted as long as price is below today’s high. A move above there would trigger the [...] [...more]
On Friday Oil dropped as investor unease about the economic recovery spread across markets after mixed U.S. employment and housing data, sending equities lower and risk-haven currencies higher. U.S. crude for November fell 26 cents to $74.92 a barrel in midday. Yet, prices were heading for a weekly gain of more than 1.6 percent, without [...] [...more]
Crude Oil (WTI) – $74.98 // $0.20 // 0.27% Commentary: Crude oil managed to reverse early losses in Thursday’s session to settle with a gain of $0.47, or 0.63%. The commodity closed at $75.18, notably above the session’s low of $73.58. It was an odd move considering that U.S. equity markets tumbled 0.83% on the [...] [...more]
The price of Crude Oil continues to float between $73.50 and $76.50 as markets digest the impact of Japan’s bank interventions and speculation about further monetary easing in the United States. The summer driving season in Europe and America did little to support oil prices this year. Fundamentals remain weak for Crude Oil, and few [...] [...more]
Oil was steady below $75 on Thursday after government data showed an unexpected increase in U.S. crude and gasoline stockpiles, ahead of key jobs and housing reports later in the day. The inventory increase last week, despite the eight day-long shutdown of the biggest pipeline shipping Canadian crude to the U.S., reaffirmed views that prices [...] [...more]
Crude Oil (WTI) – $74.81 // $0.10 // 0.13% Commentary: Oil climbed $1.19, or 1.62%, or Wednesday, but that was merely a function of the October contract rolling off the board and November taking the reigns as the prompt month contract. November itself fell $0.26 on the day. Though crude oil has been underperforming equity [...] [...more]
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