Crude Oil (WTI) – $74.13 // $0.57 // 0.76% Commentary: Crude oil’s three-day win streak was snapped on Monday after U.S. equity markets fell almost 1.5% on the day. Crude’s decline was much more modest in comparison; the commodity fell $0.47, or 0.63%, but the sell off is continuing after hours with the commodity down [...] [...more]
Crude Oil prices bounced from a 7 week low on Wednesday as investors looked for relief in U.S. durable goods and oil inventory reports due later in the day, after fears of a double-dip recession intensified with dismal housing data. Oil slid 2% on Tuesday on news that sales of previously owned U.S. homes dropped [...] [...more]
Crude Oil (WTI) – $71.89 // $0.26 // 0.36% Commentary: A horrendous U.S. Existing Home Sales number sent crude oil reeling along with equity markets. Oil dropped $1.47, or 2.01%, after The National Association of Realtors said that the number of existing home sales in July fell to the lowest level since records began in [...] [...more]
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]
Commentary: Crude oil fell notably for the third day in a row, shedding $2.29, or 2.92%. Over the last three sessions, the commodity has lost $5.74, or 7%. Weak economic data, especially out of the U.S., has challenged the optimism that was developing in financial markets. Whether the recent sell-off is merely a correction of [...] [...more]
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