Crude Oil Consolidates Ahead of Inventory Report

Crude Oil Consolidates Ahead of Inventory Report

Crude Oil (WTI) – $76.54 // $0.36 // 0.47% Commentary: It was another muted day for crude oil price action, as the commodity dipped $0.34, or 0.44%, on the session. Prices continue to consolidate last week’s gains, as elevated inventory levels prevent oil from surging in step with the equity markets. Nevertheless, continued gains in […] [...more]

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Crude Oil Falls as Momentum Wanes

Crude Oil Falls as Momentum Wanes

Crude Oil (WTI) – $76.18 // $0.62 // 0.81% Commentary: Crude oil is down in overnight trade after falling $0.39, or 0.51%, on Tuesday. It looks like the momentum that built up on the back of China growth optimism and the Enbridge pipeline leak is fading now that the latter is being resolved. Traders are […] [...more]

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Crude Oil Weighed by Inventories

Crude Oil Weighed by Inventories

Crude oil reversed a large part of Tuesday’s losses on Wednesday, but the commodity remains notably below the recent $75.58 high registered on Monday. One would have expected more from crude oil given the enormous 3% rally in U.S. equity markets, but yet another bearish inventory report kept a lid on prices. U.S. oil inventories […] [...more]

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Oil Declines for 5th Consecutive Trading Session

Oil Declines for 5th Consecutive Trading Session

Spot crude oil prices continued their decline yesterday. Causing the drop in the price was weaker than expected Japanese GDP data and a slumping U.S. dollar. This was the 5th consecutive drop in spot crude oil prices. The recent declines have amounted to more than $5 in the value of the commodity. The price of […] [...more]

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