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]
Oil rebounded as much as 0.7 percent to top $74 on Monday on a weaker dollar, but prices stayed close to last week’s six-week lows on a combination of lacklustre economic indicators, rising risk aversion and a lack of hurricane activity in the Gulf of Mexico. U.S. crude for delivery in October , the front-month [...] [...more]
Crude oil got slammed early in the Wednesday session before rebounding notably following the DOE inventory report. Which is not to say that the report was bullish—it was not. But prices got low enough to spur a rebound in the commodity which has fallen precipitously from last week’s highs. Crude oil resumed its downtrend on [...] [...more]
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