Spot crude oil prices continue to move higher as Europe takes steps towards closer integration and enforceable budget rules. Crude oil prices rose to their highest level since mid-November following Merkel and Sarkozy’s speech yesterday. The press conference by the two leaders coincided with the release of the ISM services PMI which came in at [...] [...more]
The price of spot crude oil continues to decline following a brief push above the $100 level. Investors have been taking their cues from events in Europe which have dragged down market sentiment. A combination of political gridlock in Europe combined with credit rating downgrades of Portugal, Hungary, and Poland have all weighed on the [...] [...more]
Spot crude oil prices have peaked above the psychological barrier of $100 and have extended gains following the release of stronger than expected industrial production numbers and inflationary data that showed prices in the US declined more than forecasted. Crude oil prices have been on a tear since the end of October, rising over 33% [...] [...more]
Spot crude oil prices seem content to maintain the current trading range as markets look for some type of catalyst to emerge. Crude oil prices have been trading between $89-$95.Yesterday’s ECB rate cut was not the event crude oil bulls were looking for as ECB President Mario Draghi suggested the euro zone could slip into [...] [...more]
Crude oil continues to trade in-line with improvements/declines in risk sentiment and the global economy. Yesterday’s release of Chinese PMI data that is so close to the 50 boom/bust level for the survey is one reminder of the headwinds crude oil prices face. With the major engine of global economic growth signaling a slowdown it [...] [...more]
Crude Oil prices held steady Wednesday as sentiment appeared to favor a mild uptick in global stocks following reports of monetary moves being made by several central banks. Data releases out of Europe and the US last week are beginning to generate some risk taking after statements by the Federal Reserve began to cause investors [...] [...more]
Crude Oil prices held steady Monday as sentiment appeared to favor a mild downtick in global stocks following policies of monetary stagnation being executed by several central banks last week. Data releases out of Europe and the US are still driving many investors back into safe-haven assets as many reports suggested a surprise downtick in [...] [...more]
Crude Oil prices gained mild support Thursday as sentiment appeared to favor an upward turn brought about by a strong downtick in US stockpiles. The weekly report revealed yesterday that the US has lost roughly 4.7 million barrels from its reserves. This news has so far countered the notion of a sinking price of oil [...] [...more]
Crude oil prices dropped below $75 per barrel to its lowest level in more than a year, as fears of another recession grew. An ongoing worry for investors in recent months has been Greece’s debt problems and their impact on the rest of Europe. Without more financial aid, Greece will start running out of money [...] [...more]
Thursday, light, sweet crude for November delivery was up $1.84, or 2.3%, to $83.05 a barrel on the New York Mercantile Exchange. A drop in U.S. weekly jobless claims and Germany’s vote to approve an expanded euro-zone rescue fund boosted optimism. The prospect of containment of the Euro-zone debt crisis lifted hopes for increase in [...] [...more]
Crude rose by close to $3 Tuesday as optimism regarding an imminent resolution agreement on steps by European Leader in resolving the debt crisis bolstered demand for commodities. Crude oil for November delivery advanced $3.60, or 4.5 percent, to $83.84 a barrel. Continued market optimism will likely support Oil prices at current level, however, a [...] [...more]
Crude Oil prices held steady Monday as sentiment appeared to favor a mild downtick in global stocks following policies of monetary stagnation being executed by several central banks last week. Data releases out of Europe and the US are still driving many investors back into safe-haven assets as many reports suggested a surprise downtick in [...] [...more]
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