Oil Rises on Improved Global Economic Outlook

Oil Rises on Improved Global Economic Outlook

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]

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Crude Oil Flat Ahead of Plethora of Data

Crude Oil Flat Ahead of Plethora of Data

Crude Oil (WTI) – $75.17 // $0.00 // 0.00% Commentary: Crude oil will attempt to build upon last week’s three-day rally that saw the commodity bounce from a low of $70.76 to $75.59. But, as much of that rally can be attributed to oversold conditions, it will be difficult to repeat such performance, especially given […] [...more]

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Cliff Wachtel Oil Analysis – August 26, 2010

Cliff Wachtel Oil Analysis – August 26, 2010

Oil rose for a second day on Thursday after a five-session losing streak took prices to 11-week lows that investors felt anticipated disappointing U.S. economic and inventory data, rekindling interest on the basis of technical indicators pointing to a rebound. New U.S. home sales slumped to the slowest pace on record in July and orders […] [...more]

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Crude Oil Gets a Reprieve

Crude Oil Gets a Reprieve

Crude Oil (WTI) – $72.92 // $0.40 // 0.55% Commentary: Despite a bearish DOE inventory report and another round of dismal economic data, crude oil managed to rally, adding $0.89, or 1.24% on Wednesday. Incidentally, U.S. equity markets also finished modestly higher, after spending the vast majority of the day in the red. Clearly, the […] [...more]

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Cliff Wachtel Oil Analysis – August 25, 2010

Cliff Wachtel Oil Analysis – August 25, 2010

Crude bounced from a seven-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. U.S. crude for October delivery added 26 cents to $71.89 a barrel by 0415 GMT, after trading as […] [...more]

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Crude Oil Stumbles on Data

Crude Oil Stumbles on Data

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]

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Crude Oil to Move on Growth Outlook

Crude Oil to Move on Growth Outlook

Commentary: Crude oil is little changed in overnight trade after falling dramatically last week. Crude shed over $6/barrel, or 7.5% over four sessions, as global growth concerns reemerged following cautious comments from the U.S. Federal Reserve. This week is likely to feature more of the same consternation surrounding the state of growth around the world, […] [...more]

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Cliff Wachtel Oil Analyses – August 13, 2010

Cliff Wachtel Oil Analyses – August 13, 2010

Oil rebounded from a one-month low in New York as the dollar declined against the euro and some investors took the view a drop below $76 a barrel made the commodity attractive to buy. Crude rose for the first time in four days as the euro climbed before a European report forecast to show growth […] [...more]

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