Oil fell in New York as traders sold the October future that expires today after short-term supply concerns dissipated because Enbridge Energy Partners LP started a pipeline supplying the U.S. Midwest. Crude retraced part of its 1.6 percent gain yesterday as traders sold contracts after buying last week to cover the threat of supply disruptions [...] [...more]
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]
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]
Crude Oil (WTI) – $77.19 Commentary: Crude oil rose $0.74, or 0.97%, or Monday, benefiting from the same growth optimism and supply worries that boosted the commodity late last week. Oil settled off the day’s highs, however, after news came out that Enbridge had repaired the leak in its crude oil pipeline. There is no [...] [...more]
Crude Oil (WTI) – $77.22 // $0.74 // 0.97% Commentary: Crude oil is up $0.74, or 0.97%, in overnight trade, as traders grow more optimistic about the outlook for global growth. Chinese economic data released late last week showed stronger-than-expected performance in industrial production and retail sales. Also supporting crude oil prices is concern surrounding [...] [...more]
Despite the International Energy Agency saying that world oil demand would remain tepid, U.S. crude rose 3 percent to hit a four-week high above $76 a barrel on Friday on supply concerns following the shutdown of a major pipeline supplying Canadian oil to the United States and potential for an extended outage. The duct accounts [...] [...more]
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