Crude Oil futures settled higher Monday as rising U.S. equities boosted optimism about the economic outlook. Light, sweet Crude for October delivery settled $1.20 higher at $74.86 a barrel on the New York Mercantile Exchange after trading as high as $75.45 earlier in the session. Spot crude is currently trading around $76 a barrel. The [...] [...more]
Crude Oil closed above $77 a barrel Monday after upbeat data from China stoked optimism about the global economy, while the closure of a pipeline in the Midwest disrupted supplies to refineries in the region. Oil traders were cheered by increasing industrial production in China, which over the weekend reported manufacturing gains of nearly 14% [...] [...more]
The price of spot crude oil has dipped as low as $71 a barrel this past week. However, as of this morning, news of a speculative drop in safe havens such as the USD and JPY has helped bring commodity prices back up slightly. The price of crude oil has rebounded back above $75 a [...] [...more]
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