Following the US dollar’s broad gains during yesterday’s trading session, the price of crude oil extended its bearish run throughout the day. Dollar based commodities, like oil, typically fall when the USD is strong, because it makes them more expensive for international buyers. The price of crude slipped within reach of $103 a barrel yesterday. [...] [...more]
Expectations that US crude oil inventories increased over the past week caused the price of oil to slip during European trading yesterday. High inventories in the US are usually a sign of decreased demand in the world’s largest oil consuming country, which can lead to a drop in prices. Yesterday, crude fell as low as [...] [...more]
Following last week’s gains, crude oil remained steady throughout yesterday’s session. Taking into account a number of global indicators, some analysts are wondering if the price of crude may have peaked. Recent news out of China regarding its shrinking manufacturing sector and overall weakened growth rate has pushed down demand for crude oil. Countries across [...] [...more]
The price of crude oil dropped more than $2 a barrel on Friday, following comments from US President Obama that signaled that the US is not ready to use military force against Iran to halt that country’s nuclear program. The news calmed investors immediate supply side fears and resulted in crude closing out the week [...] [...more]
Crude oil was largely steady throughout yesterday’s trading session, despite pessimism that the recent approval of a Greek bailout deal would help the country avoid defaulting on its debt. Iranian threats to halt oil exports to any European country that did not sign a long-term contract reinforced supply side fears among investors. As a result, [...] [...more]
The price of crude oil spiked during yesterday’s trading session, reaching as high as $101.81 a barrel, before staging a slight downward reversal. Escalating tensions in the Middle East were largely to blame for oil’s bullish trend. Supply side fears are growing as threats from the West to boycott Iranian oil are being matched by [...] [...more]
The price of crude oil spiked after a positive US jobs report convinced investors that American demand would also increase. Additionally, fresh threats from Iran to limit exports led to supply side fears which also boosted prices. The price of crude increased almost $2 on Friday to close out the week at $97.81 a barrel. [...] [...more]
Friday saw the price of crude oil tumble, as traders unloaded their positions before the February contract expired. Questions regarding Greece’s possible debt swap deal also caused prices to slip as low as $98 a barrel. The commodity eventually closed trading for the weekend at $98.42. Today’s meeting of euro-zone finance ministers is likely to [...] [...more]
Crude oil closed last week on a bearish note, after news that any EU ban on imported Iranian oil will likely be phased in over the next several months. The news helped settle investor fears that oil imports into Europe would not be disturbed in the immediate future. Crude oil finished out the week below [...] [...more]
The price of crude oil fell on Wednesday, as fears of an economic slowdown in Europe prompted investors to shift their funds away from the commodity. With the USD once again rising, crude oil has become less attractive of an investment. A strong US dollar makes oil more expensive for international buyers and drives investors [...] [...more]
The price of crude oil fell last week, as continued worries over the euro-zone debt crisis combined with troubling news out of the Middle East helped scare off investors. The commodity has dropped well below the $100 a barrel level and analysts are warning that the trend may continue this week. Today, traders will want [...] [...more]
Today members of OPEC will be meeting in Vienna, their first meeting since June when participants failed to come to an agreement on supply levels. The main conflict occurred between Saudi and Iranian officials. There will be additional variables in the equation with the present output from Libya unknown and increasing supplies coming back online [...] [...more]
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