Optimism in US Recovery Causes Crude Prices to Soar

Optimism in US Recovery Causes Crude Prices to Soar

Positive US economic news, as well as the most recent US Crude Oil Inventories report has led to a prolonged upward trend for crude prices that appears to be continuing into this week. Crude prices are largely determined by the state of the US economy. Following a number of positive indicators last week, oil demand […] [...more]

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Crude Decline on Negative U.S Economic Data

Crude Decline on Negative U.S Economic Data

Crude Oil futures prices settled at a 6-week low Thursday, hurt by disappointing U.S. economic data which was released Thursday as well as the highest inventories in nearly 27 years. U.S. initial claims for unemployment benefits rose by 12,000 in the week ended Aug. 14. Economists had forecast a drop of 4,000. Claims totaled 500,000 […] [...more]

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