Archive | October, 2010

Crude Oil Barely Moves Ahead of Inventory Data

Crude Oil Barely Moves Ahead of Inventory Data

Crude Oil (WTI) – $82.14 // $0.41 // 0.50% Commentary: Talk about a boring day in financial markets on Tuesday. Crude oil had a daily range of 74 cents, or less than 1%, while the S&P 500 stock index fluctuated about 10 points from high to low, also less than 1%. Fitting for such a […] [...more]

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Oil Prices Spike As Markets Open for the Week

Oil Prices Spike As Markets Open for the Week

Following a late week rally on Friday, crude oil prices continued to move up in overnight trading. Currently right around the 82.30 level, oil is up close to 70 pips since markets opened. Analysts attribute oil’s bullish movement to the downward pressure the US dollar has experienced as of late. Investors often turn commodities like […] [...more]

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Crude Oil Rises as G-20 Meeting Passes Uneventfully

Crude Oil Rises as G-20 Meeting Passes Uneventfully

Crude Oil (WTI) – $82.46 // $0.77 // 0.94% Commentary: Crude oil is up smartly to kick off the new week, rising $0.74, or 0.91%, as the weekend G-20 meeting passed uneventfully. Traders are now intently focused on the November 3rd Federal Reserve policy meeting. Speculation abounds concerning what action the central bank is going […] [...more]

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Crude Oil Falls as China Slows

Crude Oil Falls as China Slows

Crude Oil (WTI) – $81.12 // $0.56 // 0.70% Crude oil shed $1.21, or 1.48%, on Thursday giving back half of the prior day’s gains. Oil seems to be gradually seesawing lower as it consolidates after a sharp rally earlier this month. There was little to drive risk sentiment on Thursday—initial jobless claims was the […] [...more]

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Crude Oil Continues to Rise as the USD Falls

Crude Oil Continues to Rise as the USD Falls

With the US dollar consistently hitting fresh lows against several of its main currency rivals, crude oil has quickly become a solid alternative for investors looking for a safe investment. The commodity has seen significant gains as of late, and will likely maintain its high levels as long as the greenback remains down. Today, should […] [...more]

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Crude Oil Reverses Prior Losses on Fed Speculation

Crude Oil Reverses Prior Losses on Fed Speculation

Crude Oil (WTI) – $82.00 // $0.23 // 0.28% Commentary: A stunning reversal had crude oil and equity markets recouping a significant portion of Wednesday’s losses. Oil ended Thursday’s session $2.28, or 2.87%, higher to settle at $81.77. The catalyst was speculation pertaining to the Fed’s anticipated monetary easing at the next meeting in November. […] [...more]

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Crude Declines on Growth Prospects

Crude Declines on Growth Prospects

The December contract lost as much as 52 cents, declining to $82.02 a barrel in electronic trading on the New York Mercantile Exchange. Crude declined as the Dollar reversed some of its earlier loses and a report during today’s early trading showed the Chinese economic growth slowed. Crude oil climbed the most in five weeks […] [...more]

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Crude Oil Fails to Break Resistance

Crude Oil Fails to Break Resistance

Crude Oil (WTI) – $80.73 // $0.52 // 0.64% Commentary: Crude oil is lower in the overnight session as traders continue to take profits after a blistering run from the low-$70’s. The push-pull dynamic between a bullish global economic outlook and ample supplies continues. So far these two factors have offset each other, which has […] [...more]

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Crude Oil Drops Below $81 a Barrel

Crude Oil Drops Below $81 a Barrel

Crude oil fell to its lowest level in two weeks on Friday, reaching as low as $80.75 a barrel. Crude began last week’s trading around $82.50 a barrel, and was able to go as high as $84.10. Crude oil fell close to the weekend as a result of the strengthening dollar, which reduced the appeal […] [...more]

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Crude Oil Surges with Risk Appetite

Crude Oil Surges with Risk Appetite

Crude Oil (WTI) – $83.75 // $0.74 // 0.89% Commentary: A surge in risk appetite sent crude oil higher on Wednesday, with the commodity adding $1.34, or 1.64%, on the session. We have been pointing out that the correlation between crude oil and equities has been extremely strong recently. Thus, when equities rose on the […] [...more]

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