Cliff Wachtel Daily Oil Analysis – September 28, 2010

Cliff Wachtel Daily Oil Analysis – September 28, 2010

Oil fell towards $76 on Tuesday, tracking Asian equities lower on lingering concerns about euro-zone debt, which also boosted the dollar.  U.S. crude for delivery in November fell 25 cents to $76.27 a barrel at 0054 GMT, while ICE Brent slid 35  cents to $78.22. U.S. crude oil stockpiles probably fell by 400,000 barrels last [...] [...more]

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Cliff Wachtel Daily Oil Analysis – September 23, 2010

Cliff Wachtel Daily Oil Analysis – September 23, 2010

Oil was steady below $75 on Thursday after government data showed an unexpected increase in U.S. crude and gasoline stockpiles, ahead of key jobs and housing reports later in the day. The inventory increase last week, despite the eight day-long shutdown of the biggest pipeline shipping Canadian crude to the U.S., reaffirmed views that prices [...] [...more]

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Crude Oil Sees Correction after US Data Released

Crude Oil Sees Correction after US Data Released

Crude oil started yesterday’s session by taking heavy losses, but following a report showing US oil stockpiles unexpectedly dropped last week, was able to rally in evening trading. The latest US Crude Oil Inventory figure showed that stockpiles dropped by 1.9 million barrels. Typically a drop in supplies is an indicator of increased demand among [...] [...more]

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