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June 30, 2009
by Elaine Frei
The price of crude oil was lower Tuesday ahead of a weekly inventories report from the US Energy Information Administration and after the US dollar strengthened and a new report showed an erosion in US consumer confidence in June.
The stronger dollar discouraged purchases of crude oil in other currencies, which became more expensive.
August contracts for West Texas Intermediate were down ...
by Elaine Frei
Europe’s equities markets saw declines Tuesday as the banking sector and miners lost ground and the oil sector was mixed in London.
The FTSE 100 was 1.04 percent lower to 4,249.21 while the FTSE 250 fell 0.84 percent to 7,414.56 in London.
In the oil sector, oil and gas explorer Dana Petroleum (LSE: DNX) added 2.34 percent on the 250 ...
June 29, 2009
by Elaine Frei
The price of crude oil jumped Monday on the news that China said it will increase its oil reserves and after rebels in Nigeria attacked another oil instillation, this time a platform belonging to Royal Dutch Shell.
August contracts for West Texas Intermediate crude added $2.33 to $71.49 per barrel on the New York Mercantile Exchange while Brent crude added ...
by Elaine Frei
European equities markets saw gains Monday, helped by a prediction from the European Commission that the worst of the economic crisis could be over in the region, despite the fact that a separate report from the Commission warned that unemployment could remain high and could limit recovery.
In London the FTSE 100 was 1.25 percent higher to 4,294.03 while the FTSE 250 ...
by Elaine Frei
The US dollar strengthened in relation to the Australian dollar Monday after a Chinese official from China’s State Administration of Foreign Exchange said there will be no sudden changes in its policies regarding its foreign exchange reserves and wrote that the dollar might remain the main reserve currency around the globe.
In mid-morning trade in New York the dollar traded at 80.63 cents US ...
June 16, 2009
by Elaine Frei
Crude oil prices were up most of the session Tuesday, but by 1:25 p.m. in New York the price of July contracts for West Texas Intermediate crude had dropped 31 cents below Monday’s close to trade at $70.31 per barrel on the New York Mercantile Exchange.
In midday trade, meanwhile, Nymex July gasoline futures had added 4 cents to $2.10 per gallon ...
by Elaine Frei
European equities markets were mixed Tuesday, with London markets reflecting the varied results in the rest of Europe.
The FTSE 100 was up 0.06 percent to 4,328.57 while the FTSE 250 was 0.13 percent lower to 7,483.6.
Telecommunications-related shares were the top winners on both London indexes as BT Group (LSE: BT.A; NYSE: BT) added 8.01 percent on the 100 while multi-utility Telecom Plus ...
by Elaine Frei
The US dollar was weaker in relation to the euro Tuesday as sentiment improved in Germany and demand for the greenback as a safe investment declined after housing starts were reported higher in the US in May.
The ZEW index of investor and analyst expectations stood at 44.8 this month, showing that German sentiment has risen to its highest level in three years, ...
June 15, 2009
by Elaine Frei
Crude oil prices fell Monday even as retail prices for gasoline in the United States continued its upward climb even though demand is still lagging.
July contracts for West Texas Intermediate crude was down $1.42 to $70.62 per barrel on the New York Mercantile Exchange, while Brent crude fell $1.60 to $69.32 per barrel on the ICE Futures Europe exchange ...
by Elaine Frei
European equities markets were lower Monday, with individual gainers difficult to come by on the main indexes in London, Paris and Frankfurt.
The FTSE 100 was 2.61 percent lower to 4,326.01 in London, while the FTSE 250 fell 2.57 percent to 7,493.52.
There were only three gainers on the 100, led by Lloyds Banking Group (LSE: LLOY) with a ...
by Elaine Frei
The pound weakened versus the US dollar and the yen Monday after the Confederation of British Industry said that the UK economy will likely not return to growth until next year.
At just before 10:30 a.m. in New York, the pound was up at 84.66p to the shared currency, but the US dollar had gained on the pound to $1.6351 while at the same ...
June 11, 2009
by Elaine Frei
Crude oil prices were higher again Thursday after the International Energy Agency predicted that oil demand will fall by 2.9 percent this year rather than the 3 percent decline it forecast last month.
This new prediction sent July contracts for West Texas Intermediate crude $1.61 higher to $72.94 per barrel at 1:45 p.m. local time on the New York Mercantile ...
by Elaine Frei
Equities markets were higher Thursday in Europe as banks saw gains on the session.
The FTSE 100 was up 0.57 percent to 4,461.87 in London, while the FTSE 250 added 0.54 percent to 2,330.58.
Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642) led the 100 and the London banking sector as it added 5.55 percent while Royal Bank of Scotland was not ...
June 10, 2009
by Elaine Frei
West Texas Intermediate crude for July delivery was up 74 cents to $70.75 per barrel by roughly half an hour before the close of trade on the New York Mercantile Exchange Wednesday after going above the $71 per barrel level in earlier trade on a new weekly inventories report from the US Energy Information Administration.
The EIA said that inventories of ...
by Elaine Frei
European equities markets were higher Wednesday as most miners saw gains on a declaration by Eurasian Natural Resources (LSE: ENRC) that prices for ferrochrome could go up and Antofagasta (LSE: ANTO) said its output will go up by 60 percent by 2011.
In London, the FTSE 100 was up 0.73 percent to 4,436.75 and the FTSE 250 added 0.5 percent to 7,729.98.
The five ...
by Elaine Frei
The pound strengthened Wednesday on gains in equities markets and on new data showing that factory production in the UK was up 0.2 percent in April over May’s numbers, news that came after recent numbers showing that house prices are up in the UK and that the services sector there is also up.
Additionally, Prime Minister Gordon Brown has apparently avoided resignation for ...
June 9, 2009
by Elaine Frei
Crude oil prices closed above $70 Tuesday and rose to a year-to-date high at $70.18 in afternoon trade in New York.
West Texas Intermediate crude for July delivery added $1.92 to $70.01 per barrel at the close of floor trade on the New York Mercantile Exchange, while the price for Brent crude remained below the $70 per barrel mark as ...
by Elaine Frei
European equities markets were mixed Tuesday, with most up but a few lower.
In London the FTSE 100 dropped 0.01 percent to 4,404.79 while the FTSE 250 added 0.05 percent to 7,691.65.
Four out of five of the top losers on the 250 were home builders, with Bovis Homes Group (LSE: BVS) down 3.92 percent while Taylor Wimpey (LSE: TW) was down 4.58 percent, Berkeley Group Holdings Units ...
by Elaine Frei
The pound strengthened Tuesday after the Royal Institution of Chartered Surveyors reported that only 44.1 percent more estate agents said home prices fell last month that reported gains in prices, the most positive result in over a year and a half.
The possibility that the political situation in the UK is stabilizing after a meeting between Prime Minister Gordon Brown and members of ...
June 8, 2009
by Elaine Frei
Crude oil prices fell Monday as some analysts said that the only reason oil prices are mostly rising right now is that oil prices are rising.
July contracts for West Texas Intermediate crude were 35 cents lower to $68.09 per barrel on the New York Mercantile Exchange while Brent crude dropped 46 cents to $67.88 per barrel on the ICE Futures Europe exchange in London.
Earlier in the ...
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