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Oil Price Floats near $98 a Barrel

Oil Price Floats near $98 a Barrel

Crude Oil prices sunk yesterday, reaching near $97.50 in late trading. Growth differentials between the Atlantic states have risen into view this week while manufacturing output and service data revealed mild weakness in Europe. This has so far led several large investors and analysts to consider a shift away from the EUR and other risky […] [...more]

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Crude Oil Price Finds Weak Support at $92 a Barrel

Crude Oil Price Finds Weak Support at $92 a Barrel

Crude Oil prices dropped sharply towards $92 a barrel Monday morning as sentiment appeared to favor a downturn in global industry and manufacturing. The sudden halt to this downward movement came as a result of several forces Tuesday morning. Primarily leading the rebound in oil prices was a sense that risk aversion was on the […] [...more]

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Crude Oil Prices Bearing Weight of USD Uptick

Crude Oil Prices Bearing Weight of USD Uptick

Oil prices fell hard this morning with $92 a barrel coming easily into view. US oil stockpiles dropped over 3 million barrels last week which appears to have failed to support the price of the black gold. Speculative reports of unilateral action by Saudi Arabia to boost production have many investors going short on physical […] [...more]

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Fears of Reduced Fuel Demand Drops Oil Prices

Fears of Reduced Fuel Demand Drops Oil Prices

Crude Oil prices dropped sharply towards $94 a barrel Wednesday as sentiment appeared to favor a downturn in global industry alongside a slump in demand for the black gold. Data releases out of Britain and the US yesterday were driving many investors back into safe haven assets as most reports suggested murky growth in global […] [...more]

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Crude Oil Prices Steady Near $102 a Barrel

Crude Oil Prices Steady Near $102 a Barrel

Oil prices held steady this morning with the $102 price level acting as a firm footing for this commodity. US oil stockpiles sunk sharply last week, falling well below expectations and helping to hold the value of Light, Sweet Crude steady near its current mark. The price of black gold has been trading within a […] [...more]

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Crude Oil Prices Steady Near $100 a Barrel

Crude Oil Prices Steady Near $100 a Barrel

Oil prices held steady this morning with the $100 price level acting as a firm footing for this commodity. US oil stockpiles rose a half a million barrels last week, beating expectations and helping to hold the value of light, sweet crude steady near its current mark. The price of black gold has been trading […] [...more]

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Crude Oil Lower On Chinese Economic Data

Crude Oil Lower On Chinese Economic Data

The price of spot crude oil fell after weaker than expected Chinese PMI data and a flair up in the European debt crisis. Both events had the same effect of switching to a “risk-off” mode as higher yielding assets such as equities and the Australian dollar traded lower on the day. Spot crude oil traded […] [...more]

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Crude Oil Prices Hold near $98

Crude Oil Prices Hold near $98

Oil prices fell below $98 a barrel yesterday morning, surprisingly after the euro took off against its primary rival, the US dollar. US oil stockpiles rose over 3 million barrels for the second week in a row last week, and forecasts for today’s oil inventories report is for another increase of approximately 1.4 million barrels. […] [...more]

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Crude Oil Falls 1%

Crude Oil Falls 1%

Crude Oil prices fell more than 1% on Monday to around $104.90 a barrel, reversing steep early gains as traders assessed efforts to stem the conflict in Libya and took profits in Brent’s unprecedented premium to U.S. futures. Trading was volatile, with investors first reacting to attacks by Libyan ruler Muammar Gaddafi’s supporters to retake […] [...more]

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Crude Jumps Following Non-Farm Data

Crude Jumps Following Non-Farm Data

Friday’s US Non-Farm data gave crude oil a significant boost to close out the week. Crude saw a 125 pip spike on Friday afternoon, and closed out the week trading close to $87.50 a barrel. Analysts attributed the gains to the better than expected employment data, but cautioned that as long as the dollar maintains […] [...more]

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