Cliff Wachtel Daily Oil Analysis – September 28, 2010

Cliff Wachtel Daily Oil Analysis – September 28, 2010

Oil fell towards $76 on Tuesday, tracking Asian equities lower on lingering concerns about euro-zone debt, which also boosted the dollar.  U.S. crude for delivery in November fell 25 cents to $76.27 a barrel at 0054 GMT, while ICE Brent slid 35  cents to $78.22. U.S. crude oil stockpiles probably fell by 400,000 barrels last [...] [...more]

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Crude Oil Targeting $80 a Barrel?

Crude Oil Targeting $80 a Barrel?

The price of Crude Oil continues to fluctuate between $71 and $78 a barrel, with a current price settling yesterday just under $77. Speculative reports about a decline in inventories have fueled a number of analyses to predict an impending rise in oil prices from a boost in consumption among the larger economies. The United [...] [...more]

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Cliff Wachtel Daily Oil Analysis – September 24, 2010

Cliff Wachtel Daily Oil Analysis – September 24, 2010

On Friday Oil dropped as investor unease about the economic recovery spread across markets after mixed U.S. employment and housing data, sending equities lower and risk-haven currencies higher. U.S. crude for November  fell 26 cents to $74.92 a barrel in midday. Yet, prices were heading for a weekly gain of more than 1.6 percent, without [...] [...more]

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Crude Oil Falls For the 3rd Day to $74.70 a Barrel

Crude Oil Falls For the 3rd Day to $74.70 a Barrel

Crude oil fell to a session low of $74.70 a barrel yesterday. After starting out at ‎around $76.50 a barrel, oil saw a sharp drop before correcting some of its losses to end ‎the day around $75.50 a barrel.‎ Crude fell yesterday after U.S. regulators agreed to a Friday Restart of Enbridge’s ‎biggest pipeline from [...] [...more]

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Crude Oil Prices Rise despite US Inventories Report

Crude Oil Prices Rise despite US Inventories Report

An increase in US crude oil inventories did not stop prices from increasing dramatically yesterday. Typically speaking, larger inventories mean that there is decreased demand in the US which causes prices to drop. This was not the case yesterday, as the weakened dollar helped boost commodity prices, including oil. Crude prices jumped over $2, and [...] [...more]

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Crude Oil Inventories Watch: Week Ending 08/06/2010

Crude Oil Inventories Watch: Week Ending 08/06/2010

Inventories The Department of Energy reported that in the week ending August 6th, 2010, U.S. crude oil decreased by 3.0 million barrels, gasoline inventories increased by 0.4 million barrels, distillate inventories increased by 3.5 million barrels, and total petroleum inventories increased by 0.1 million barrels. Inventories remain at 10-year highs, while product inventories maintain record [...] [...more]

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Crude Oil Price in Decline on Rising USD

Crude Oil Price in Decline on Rising USD

The price of spot crude oil has been declining moderately for over a week as growth concerns continue to take their toll. The various market forecasts made by the United States, Europe and Australia have apparently put a damper on demand and pushed a number of traders out of riskier assets and back into safe-havens [...] [...more]

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Crude Trades near a 7 Day Low

Crude Trades near a 7 Day Low

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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