Another day, another decline for crude oil prices, with the commodity shedding $0.40, or 0.55% to kick off the new week. Little has changed as market participants continue to be concerned about the global economic outlook. Growth prospects have diminished, as evidenced by weak economic data, particularly out of the U.S. We have said for [...] [...more]
Technical traders will note that Thursday’s close for US-based crude officially pushed the lower boundary of a three-month rising trend channel. If this were to occur when the general activity level of the market were higher, earlier in the week or amid a thicket of scheduled event risk; there would almost certainly be a speculative [...] [...more]
Spot crude oil prices continued their decline yesterday. Causing the drop in the price was weaker than expected Japanese GDP data and a slumping U.S. dollar. This was the 5th consecutive drop in spot crude oil prices. The recent declines have amounted to more than $5 in the value of the commodity. The price of [...] [...more]
Crude Oil is trading near a one month low, as a barrel of crude oil is currently trading around $75.70. A barrel of crude oil was traded for about $80 when last week’s trading took off, yet crude saw a sharp decline, and reached a weekly low of $75.05 on Friday. Crude oil fell during [...] [...more]
Crude futures fell 2.8%, following the release of a U.S. government inventories report which showed gasoline stockpiles rose for the seventh-straight week, spurring concerns the faltering global recovery cannot support demand. Light, sweet crude for September delivery settled down $2.23 at $78.02 a barrel on the New York Mercantile Exchange, after falling as low as [...] [...more]
Crude oil fell notably on Tuesday as growth concerns reemerged. Traders will now look to the DOE inventory report set to be released on Wednesday. Gold continues to move inversely to the US Dollar. Crude Oil (WTI) – $80.12 // -$0.13 // -0.16% Commentary: As has been the pattern in recent sessions, crude oil followed [...] [...more]
Crude Oil prices dropped 1.5% yesterday as the department said the U.S. economy lost momentum heading into the second year of the recovery from the recession. Crude pared losses after Federal Reserve policy makers announced their first attempt to bolster growth since March 2009. Oil hovered around $80 a barrel on Wednesday after data showed [...] [...more]
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