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Crude Oil Rises above $83 a Barrel

Crude Oil Rises above $83 a Barrel

Crude oil prices ended nearly 2% higher on Monday, boosted by comments from the Saudi Arabian oil minister that an oil price between $70 and $90 a barrel was comfortable for consumers. Countries in the OPEC oil-producing cartel, including Saudi Arabia, Nigeria, Venezuela and Iran, have the power to restrict output and push up prices […] [...more]

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Oil Prices Appear to be Consolidating Near $81.50

Oil Prices Appear to be Consolidating Near $81.50

Despite the rumblings taking place throughout the forex market this morning, the price of Crude Oil appears little touched. Crude Oil has been experiencing a price consolidation trend towards the level of $81.50 a barrel. The trend appears to have become clearer over the last few trading days as the commodity has continued to trade […] [...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 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 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 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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Oil Gains on Rising Global Demand

Oil Gains on Rising Global Demand

Crude Oil prices snapped a 2 session losing streak to close higher Wednesday, on the heels of increased forecasts for world oil demand and a weaker dollar. Oil climbed for a second day, rising 0.9 percent to $83.77 a barrel , ahead of a meeting of the Organization of Petroleum Exporting Countries (OPEC) today at […] [...more]

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Crude Oil Prices Hold Near $82

Crude Oil Prices Hold Near $82

Crude oil fell below $82 a barrel on speculation that U.S. inventories rose to a three-month high last week and signs that OPEC will leave production targets unchanged. Crude began dropping two days before the U.S. Energy Department’s report, which is forecasted to show a gain of 1.4 million barrels to 362.3 million. OPEC said […] [...more]

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Crude Oil Recovers To $83 a Barrel

Crude Oil Recovers To $83 a Barrel

Crude oil saw an extremely volatile session during last week’s trading. Crude gained on a daily basis up until Friday, and reached as high as $84.40 a barrel. This was followed by a sharp fall, and crude was traded for $80.30 a barrel. However, crude prices promptly corrected the bearish move, and are now trading […] [...more]

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Bullish Streak Continues

Bullish Streak Continues

The price of oil rose to a 5-month high following the release of weekly crude oil inventory figures. The data report showed a large increase in overall stockpiles but a larger than expected drawdown in gasoline stocks. Also affecting the price of spot crude oil was a weakening dollar. Traders will be eying employment data […] [...more]

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