Tag Archives: Crude Oil

June Nymex crude prices fell back sharply yesterday amid concerns over Spanish debt and a much larger than forecast increase in crude inventories reported by the EIA in their weekly report. Analysts were looking for a build of around 1.8-2.0 million barrels with the EIA reporting a figure of 3.86mmbls.

Nymex crude prices rallied strongly yesterday the move fuelled by a surge higher in equities, IMF’s upbeat global growth forecasts raised for the first time in over a year, strong Spanish auctions and a robust German ZEW reading.

Nymex crude prices had a mixed day yesterday but closed the session higher and Asia this morning has largely maintained the gains with the front month WTI contract trading just under $103.00.

May Nymex crude prices have eased back in Asia this morning on a general risk-off environment with sharp falls in commodity currencies and a slide small slide in Gold. The front month WTI contract is currently trading down after opening the week at $102.80, and has slipped to lows of $102.04 in recent trade.

May Nymex crude prices picked up again yesterday fuelled by an equity rally in the S&P500, US jobless claims, talk of a high Chinese GDP number and IMF raising global growth prospects at next week’s meeting in Washington.

Nymex crude prices reversed Tuesday’s sharp falls yesterday aided by the weekly EIA inventory report which showed a build in inventories over the last week of 2.8 million barrels. Whilst the figure was higher than analysts expected, it was considerably less than the 6.6 mmbl build reported by the API on Tuesday, and the EIA […]

Nymex crude prices came under pressure yesterday, dragged lower by falling equities and renewed EU debt concerns which led to widening peripheral spreads particularly in Spain and Italy.

May Nymex crude prices are holding steady in Asia this morning just above $102.00 consolidating the recovery from lows yesterday of $100.81 seen following some waning risk appetite in the wake of the weak NFP data from Friday, falling equities and renewed fears of a possible 3rd bailout for Greece.

May Nymex crude prices fell back yesterday as risk sentiment waned amid weakening equity markets initiated in Asia and compounded in Europe following a weak Spanish bond auction. Commodities were also hit with the CRB index down around 1.8%.

May Nymex crude futures bounced back yesterday fuelled by a sharp S&P500 recovery which accelerated as the index turned positive towards the london close. The contract jumped back from early lows in NY of $102.06 back up through the 50day MA at $103.73 to highs of $105.49 before settling around $105.23.

May Nymex WTI crude is currently trading around $103.25 in Asia this morning in a continuation of the rather tame trading range seen on Friday into the month/quarter end. The much larger than expected build in EIA crude inventories last Wednesday along with talk on Thursday of release of some Strategic Petroleum reserves (SPR) has […]