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]
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]
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]
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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