Crude Oil (WTI) – $74.25 // $0.61 // 0.81% Commentary: Crude oil arrested a four-day slide on Monday, rising $1.20, or 1.63%, due in large part to the rally and breakout in U.S. equity markets. The S&P 500 stock index soared 1.52% on the day, reaching its highest level since May. Traders have become more [...] [...more]
Crude Oil (WTI) – $73.92 // $0.68 // 0.91% Commentary: Crude oil is currently down after falling on Friday despite a better-than-expected U.S. nonfarm payrolls report and rallying equity markets. Surging U.S. inventories continue to put pressure on the commodity, which typically rallies strongly on global growth optimism. It is worth repeating that inventories in [...] [...more]
Spot crude oil prices fell yesterday as traders reduced their exposure to risky assets. This snapped a 3-day streak of rising prices for the commodity. Pushing the price of crude oil down were weak equity markets and lackluster consumer data released from the US. The price of spot crude oil fell to $74.05, following an [...] [...more]
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