Tag Archives: Crude Oil

Nymex Crude Oil is likely to consolidate with risks skewed to the downside after failing Thursday to break resistance at Wednesday’s nearly eight-month high of $103.74/bbl before settling down $1.41 at $101.81/bbl, Dow Jones technical analysis shows.

Crude Oil futures prices slumped below $102 a barrel Thursday after news that U.S. oil inventories rose last week amid weak demand. The Energy Information Administration said crude oil stocks rose 2.2 million barrels in the week ended Dec. 30, while analysts expected a drop of 900,000 barrels. Gasoline stocks rose 2.479 million barrels, more […]

Nymex Crude oil remained firm on Wednesday after initially posting a strong rally in the NY session to $103.74 despite falls in the S&P. The move was buoyed by a resurgence of safe-haven demand in Gold which headed higher to $1618.75 over Iranian/US sabre rattling, and a Moody’s overview of Oil and gas for 2012 […]

Crude Oil prices spiked in mid-morning trading to their highest level in nearly eight months on reports that European Union officials agreed in principal to an embargo on Iranian oil imports, but fell back on an apparent lack of concrete details.

Crude Oil futures retreated Wednesday from their eight-month high reached the day before as worries over Iran tensions subsided and renewed concerns about the euro zone emerged. Crude Oil was also exhibiting a strong correlation to equity markets, which were also falling on European concerns.

WTI Crude oil, which has rallied strongly since mid December, closed yesterday at the highest level in eight months rallying by 4.2 percent on the first trading day of the year. The strong performance is based on a combination of increased geopolitical risk in Iran, improved economic data from the U.S. and China (the world’s […]

Nymex WTI and ICE Brent Crude Oil both rallied yesterday amid further Middle Eastern tensions in the Gulf after comments from Iranian army and naval chiefs warned of repercussions should the US carrier return into it’s territorial waters.

Crude Oil futures are continuing to face resistance at $103.37/bbl, but Iran’s saber-rattling is the most bullish factor driving the market. Nymex Crude Oil for February delivery settled $4.13, or 4.2%, higher at $102.96/bbl Tuesday, marking the contract’s highest finish since May 10.

Crude Oil futures rose sharply Tuesday, lifted by a report indicating growth in China’s manufacturing sector and continued tensions between Iran and the West. Light, sweet crude for February delivery rose $3.05, or 3.1%, to $101.88 a barrel on the New York Mercantile Exchange. Brent crude on ICE Futures Europe traded $3.37, or 3.1%, to […]