Crude Oil Inventories to be Released Today

Crude Oil Inventories to be Released Today

Oil prices rose on Wednesday for the first time in three sessions to trade around $75 a barrel, bouncing with equities and supported by a weaker dollar as concerns over the European banking system eased and investors cautiously bought riskier assets. A weaker U.S. dollar tends to boost the price of dollar-priced commodities as it […] [...more]

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Crude Oil Rises above $73 a Barrel

Crude Oil Rises above $73 a Barrel

Oil prices extended gains to rise above $73 a barrel Thursday, as regional stock markets advanced and recent sharp losses in crude drew more buyers. Crude has fallen about 11.5% from around $82 a barrel early this month as more evidence of a slowing US economy suggested that demand for oil and gas would remain […] [...more]

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Crude Oil Rises Despite Negative Inventory Data

Crude Oil Rises Despite Negative Inventory Data

The price of spot crude oil rose today despite sluggish equity markets and rising crude oil inventories. Crude oil prices finished higher on the day at $72.75, from an opening day price of $71.88. The US Energy Information Administration released its weekly crude oil inventory level report that showed crude oil inventories rose 4.1M barrels. […] [...more]

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Oil Prices Continue to Climb Despite Inventories Report

Oil Prices Continue to Climb Despite Inventories Report

Despite a higher than forecasted U.S. crude oil inventories figure, released on Wednesday, oil prices began rising again throughout yesterday and into overnight trading. Prices are currently up over 120 pips from yesterday’s low point before the inventories report was released. Analysts attribute the increase in price to the recent gains made in the U.S. […] [...more]

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Crude Oil Rises Above $76 a Barrel

Crude Oil Rises Above $76 a Barrel

Oil snapped a five-day losing streak to rebound above $76 a barrel on Tuesday as firmer equity markets and a weaker dollar outweighed concerns about the pace of global economic recovery. Oil and other commodities denominated in dollars for global trading tend to rise when the U.S. currency falls as they become cheaper for holders […] [...more]

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