Tag Archives: Crude Oil

Nymex WTI crude prices are heading back up towards the $100 a barrel level this morning, with the March crude consolidating strong gains seen yesterday in NY, following the resumption of some risk appetite in equities and the EUR/USD on optimism of closure over the lingering Greek debt deal.

Nymex crude prices have been relatively stable this morning in Asia with the March contract easing back from early highs of $97.41 to $96.74 largely tracking a small sell-off in the corresponding ICE Brent contract from $116.65 to $115.65.

Crude futures headed lower Monday, retreating from Friday’s gains as fresh worries about European debt emerged. Light, sweet crude for March delivery recently traded $1.37, or 1.4%, lower at $96.47 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 69 cents lower at $113.89 a barrel.

Nymex WTI crude prices have started the week with a slightly softer tone this morning in Asia after highs in NY on Friday of $98.03 following a much stronger than expected US NFP release which buoyed equity markets.

Nymex crude prices slipped back again yesterday in contrast to the ICE Brent contract which posted gains on the day. Firmer equity markets and lower jobless claims failed to buoy the WTI contract as traders focused on the large storage increase at the Cushing Oklahoma hub following the EIA data release on Wednesday.

Nymex March WTI crude prices headed lower yesterday as traders focussed on the weekly inventory data from the EIA. The report showed an above analysts build of 4.18 mmbls of crude against expectations of around 2.5-3 mmbls, the rise seen on the back of cheaper Canadian imports and a fall in refinery utilizations.

Nymex crude oil prices fell back yesterday after an initial surge higher in Europe which was on the back of optimism that the Greek/PSI debt swap deal was nearing conclusion. The rally was led by Brent crude and saw a jump in the March WTI contract from $98.88 to $101.29 in the European session.

Nymex crude prices fell back yesterday amid EU concerns over the ongoing delay to the Greek debt swap conclusion, weakening bond markets and jitters from the bulls who remain cautious despite latest CFTC data suggesting money managers boosted net longs by 8.29% over the latest week.

Nymex crude oil prices slipped back on Friday in relatively calm trade into the weekend. Prices failed to close the week above the $100 level but remain firm in the light of refinery disruptions and a possible retaliation to the EU’s decision to embargo Iranian imports from July1.

Nymex crude prices closed fractionally lower yesterday in mixed trading with the contract continuing to gyrate around the $100 level but continues to close just below it. The IEA stated that there was no need to release any strategic reserves to counter any shortages from an Iranian oil embargo at the present time.

Crude oil futures climbed above $101 a barrel Thursday after Iran threatened an immediately halt crude oil sales to the European Union and U.S. indicators showed an improving economy.