Tag Archives: Crude Oil
CRUDE OIL ANALYSIS
February Nymex crude prices eased back yesterday despite late gains in the S&P futures. The EIA reported a much larger than expected build in crude inventories for the week ending Jan6 which weighed heavily on the contract.
CRUDE OIL ANALYSIS
The selloff in crude-oil futures gained steam at mid-morning Wednesday after U.S. weekly oil data showed a sharp drop in demand and a larger-than-expected rise in oil stockpiles. Demand for gasoline–the most widely used petroleum product in the world’s biggest oil consumer, fell to a near nine-year low last week, the Energy Information Administration said.
CRUDE OIL ANALYSIS
Crude oil futures prices were lower early Wednesday on fresh worries about a slowdown in European economies. Germany said the country’s economy contracted by around 0.25% in the fourth quarter, while Spain’s industrial output dropped 7% year-on-year in November, following a 4.2% drop in October. The economic news pushed the euro lower against the dollar, […]
CRUDE OIL ANALYSIS
Nymex Crude Oil prices marched higher yesterday as some risk appetite returned to equity and commodity markets and the EUR/USD saw a bout of short covering amid largely well received Dutch and Austrian auctions and comments from Fitch that France would not receive a sovereign downgrade this year.
CRUDE OIL ANALYSIS
Oil futures climbed Tuesday as tensions between Iran and the West continued to escalate, while U.S. equities opened higher. Light, sweet crude for February delivery rose $1.42, or 1.4%, to $102.74 a barrel on the New York Mercantile Exchange. Brent crude on ICE Futures Europe added 74 cents, or 0.7%, to $113.19 a barrel.
CRUDE OIL ANALYSIS
(101,99) CRUDE OIL confirmed yesterday a test of the 100,10 level where it found however good support favouring a resumption of the move up, already last night with an overshooting of the 200 hours line, now s/t support at 101,21.
CRUDE OIL ANALYSIS
Nymex Crude Oil prices had a mixed day yesterday amid another inconclusive outcome from a Merkel/Sarkozy meeting. Some negative news on the eurozone and the resignation of SNB chief Hildebrand along with further pessimism over Greece’s ability to remain in the Euro, kept Oil prices slightly depressed despite a relatively stable EUR/USD.
Asian Market Analysis
Despite negative EURO data and the resignation of SNB chairman Hildebrand, the EUR survived a relatively tame session in NY yesterday. China’s strong trade surplus in December, and German negative yields from yesterday’s auction have so far kept markets calm after the inconclusive Merkel/Sarkozy meeting, despite increasing possibility in analysts and the IMF’s minds that […]
CRUDE OIL ANALYSIS
CRUDE OIL confirmed a negative closing on Friday but above the opening. The indicators of the daily chart are now negative and also those of the s/t ones are turning below the line suggesting for the s/t further pressure.
CRUDE OIL ANALYSIS
Nymex February WTI Crude closed marginally higher on Friday in mixed trading. The contract opened at $101.35 and headed higher in the morning to $102.80 before strong US NFP data led a sharp fall back to $100.88.
Market Analysis
The EUR fell to a 16-month low of $1.2666 against the USD and a fresh 12-year low of Y97.280 against the JPY amid growing concerns over the ability of European leaders to contain Europe’s sovereign-debt crisis.
CRUDE OIL ANALYSIS
Crude futures lost early gains Friday, turning lower as equities markets fell. The decline reversed a price surge spurred by government data showing U.S. job growth accelerated in December. Light, sweet crude for February delivery recently traded 62 cents, or 0.6%, lower at $101.19 a barrel on the New York Mercantile Exchange after trading as […]