Tag Archives: Crude Oil

April Nymex crude prices lost ground yesterday but have picked up in Asia this morning with the WTI contract rising from $106.48 to $107.06, before slipping to $106.74 as equities curbed earlier gains and the BOJ announced a hold on rates and no increase in the Y65 trln QE program.

Nymex crude prices are holding firm in Asia this morning ahead of the outcome of the Greek PSI take up and US non-farm payroll data this afternoon. Yesterday saw prices pick up with optimism over Greece as talk that as much as 95% of bondholders will sign up to the debt swap.

Nymex crude prices picked up yesterday on a combination of the possibility that the Fed may buy bonds, optimism on the Greek PSI deal finally being sealed, and a smaller than expected build in crude oil inventories reported by the EIA.

Nymex crude prices are holding steady this morning in Asia with the April contract trading around $105.00 ahead of the European open. Yesterday saw the pair slip under the $105.00 level from highs of $107.34 after news that Europe was offering to re-open talks with Iran to discuss it’s nuclear intentions.

Nymex crude prices slipped on Friday and are holding around $107.00 in Asia this morning from highs above $110.00 last week seen after talk of a pipeline explosion in Saudi Arabia. Latest CFTC data suggests money managers increasing net length of contracts by around 5% despite a reduction in producer shorts by around 4%.

Nymex crude prices are steady this morning in Asia trading in a tight $108.41-109.00 range ahead of the european open in a subdued session ahead of the weekend, with traders pausing ahead of EU leaders decision on the 2nd Greek bailout program.

Nymex crude prices are holding steady around $107.00 this morning in Asia after a rather roller-coaster ride yesterday in the NY session. The April contract fell back from early highs of $107.43 in Europe to $104.84 after the EIA announced a bearish 4.16 mmbl build in crude inventories for the latest week and Fed Bernanke […]

Nymex WTI crude prices are staging a recovery this morning after a heavy sell-off yesterday partly on profit taking, but also on fears from traders that the recent rise in prices may spark some demand destruction.

April Nymex WTI crude prices are holding steady in Asia this morning around $108.40 after losing over $2 yesterday as the euro succumbed to pressure from EUR/JPY sales and the Nymex markets saw some profit taking after a failure to breach the $110 level.

Nymex and Ice Brent crude prices continue to gather support from tensions in the Middle East (notably Iran, who continue to dismiss allegations about it’s nuclear program). US Treas Sec Geithner is now considering releasing some strategic oil reserves as the recent price rises threaten the global economy.

Nymex April crude prices are holding firm in Asia this morning around $108.50 after a sharp rally yesterday in NY. The move was largely seen as a short squeeze, despite the absence of any further headline news from Iran, and a build in inventories reported by the EIA of 1.63mmbls which was slightly above analysts […]