Archive | Price Action

Oil settles 2 percent lower after wild swings

Oil prices resumed their May swoon Thursday as concerns over the European economy had traders bailing out of energy commodities. The session was a volatile one. An early 2 percent gain had turned into an 8 percent decline by early afternoon on the New York Mercantile Exchange. Prices settled about 2 percent lower, the 12th […] [...more]

Price Action Comments Off on Oil settles 2 percent lower after wild swings

‘Perfect’ Oil Price Slipping Away

The “perfect” oil-price range feted at this week’s gathering of energy world heavies in Cancun is already fading from view. Crude futures have smashed through recent highs to trade at nearly $85 a barrel for the first time since October 2008. The move comes just after the conclusion of the International Energy Forum, where representatives […] [...more]

Price Action Comments Off on ‘Perfect’ Oil Price Slipping Away

Oil gets boost from economic data, Moscow bombing

Oil prices got a boost Monday from positive economic indicators and worries about terrorist bombings in Moscow. Benchmark crude for May delivery jumped $2.17 to settle at $82.17 a barrel on the New York Mercantile Exchange. At least 38 people died and more than 60 were hurt after two female suicide bombers blew themselves up […] [...more]

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Oil Trades Near $82 After Rising on Economic Recovery Optimism

Crude oil traded near $82 a barrel in New York after rising on optimism fuel demand will increase amid improved prospects for an economic recovery in the U.S., the world’s biggest energy consumer. Oil erased a decline of more than $2 yesterday and climbed 0.8 percent at the close as U.S. stocks rose and the […] [...more]

Price Action Comments Off on Oil Trades Near $82 After Rising on Economic Recovery Optimism

NYMEX-Crude settles higher, moves up after APIs

U.S. crude futures pushed higher post-settlement Tuesday after an industry oil inventory report showed crude stockpiles rose less than expected while gasoline stocks fell much more than forecast. U.S. crude oil futures had already settled higher as the dollar weakened and the U.S. Federal Reserve kept its benchmark Federal Funds rate steady and reaffirmed its […] [...more]

Inventories, Price Action Comments Off on NYMEX-Crude settles higher, moves up after APIs

Energy report: China gets tough

Google is 99.9% sure it is leaving China as the oil market not only has to deal with the upcoming Fed and OPEC meetings but will also have to focus on increasing tensions between the U.S. and China.. The week ahead in energy will at least be eventful. China is upset with the U.S. and […] [...more]

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Oil ends at 8-week high on gasoline inventory drop

Oil prices settled at an eight-week high on Wednesday in choppy trading after a government report showed that gasoline stocks in the United States dropped unexpectedly. U.S. crude for April delivery settled 60 cents higher at $82.09 per barrel, after reaching $83.03. London ICE Brent for April settled at $80.48, up 57 cents. “Today’s EIA […] [...more]

Price Action Comments Off on Oil ends at 8-week high on gasoline inventory drop

Oil at seven-week high

Oil rose more than 1 per cent to hit a seven-week high on Friday after a report showed the United States lost fewer jobs than expected in February and on signals China will maintain its economic stimulus measures. China. US crude for April gained US$1.29 to settle at US$81.50, the highest settlement since January 11. […] [...more]

Price Action Comments Off on Oil at seven-week high

NYMEX-Crude up on economy view, eyes dollar, data

U.S. crude futures rose more than 2 percent on Tuesday ahead of weekly oil inventory reports amid optimism about the economy and the situation with debt-laden Greece that helped the euro bounce and lifted equities.Sources also noted refinery problems that were helping lift refined products futures. Global equities edged higher on growing expectations that debt-stricken […] [...more]

Price Action Comments Off on NYMEX-Crude up on economy view, eyes dollar, data

Oil falls below US$79 as greenback strengthens, manufacturing report disappoints

Crude oil futures gave back earlier gains Monday and slid on a rising U.S. dollar and a manufacturing report that fell short of economists’ expectations. Oil prices got to US$80.62 a barrel on the New York Mercantile Exchange before falling back to settle at US$78.70, down 96 cents. On Friday, the contract added $1.49 to […] [...more]

Price Action Comments Off on Oil falls below US$79 as greenback strengthens, manufacturing report disappoints

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