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October 29, 2009
by Elaine Frei
Crude oil prices rebounded Thursday in New York and London after the US dollar weakened and on a new report that the US gross domestic product was up at a 3.5 percent annual rate in the third quarter, and even though inventories were up last week and demand doesn’t seem to be growing in the US.
December contracts for ...
October 28, 2009
by Elaine Frei
Crude oil prices fell Wednesday after the US Energy Information Administration released its latest weekly US inventories report, showing that both crude oil and gasoline stockpiles rose last week.
December contracts for West Texas Intermediate crude were down $2.12 to $77.43 per barrel by just before the close of floor trade on the New York Mercantile Exchange, while Brent crude ...
October 26, 2009
by Elaine Frei
Crude oil prices fell in New York and London on Monday due to a stronger US dollar and a cease-fire agreement between the Nigerian government and rebels who have been operating in the oil-rich Niger Delta region of that African nation.
December contracts for West Texas Intermediate crude were down $1.63 to $78.87 per barrel at about 20 minutes before the ...
October 23, 2009
by Elaine Frei
Crude oil prices were lower Friday on worries about economic recovery after the UK said that its gross domestic product fell 0.4 percent in the third quarter, and as equities markets declined but the dollar gained strength.
In addition, OPEC’s secretary general said that the cartel could decide to raise production quotas at its December meeting if inventories fall and it ...
October 21, 2009
by Elaine Frei
The price of crude oil was up Wednesday on a weaker US dollar and on a report from the US Energy Information Administration showing that while crude oil inventories were up last week, they didn’t gain as much as expected.
December contracts for West Texas Intermediate crude were up $2.25 to $81.31 per barrel near the close of floor trade on ...
October 20, 2009
by Elaine Frei
Crude oil prices fell Tuesday, but only after going above $80 per barrel in early trade, as the US dollar strengthened and ahead of an expected rise in crude stockpiles when the US Energy Information Administration reports on inventories Wednesday.
November contracts for West Texas Intermediate crude were down 59 cents to $79.02 per barrel shortly before the close on the ...
October 19, 2009
by Elaine Frei
Crude oil prices were higher in New York on Monday, approaching the $80 per barrel level during the day as equities markets saw gains and the US dollar weakened again.
November contracts for West Texas Intermediate crude were up $1.05 to $79.59 per barrel at about 5 minutes before the close of trade on the New York Mercantile Exchange, but by ...
October 14, 2009
by Elaine Frei
Crude oil prices were higher Wednesday as the US dollar weakened again and on hopes that demand for diesel fuel will rise with shipments of merchandise to stores for holiday sales, and even though new US inventories data, due Thursday, is expected to show gains in crude oil inventories last week.
November contracts for West Texas Intermediate crude were 86 cents ...
October 13, 2009
by Elaine Frei
Crude oil prices were higher again Tuesday, gaining on a US dollar that weakened further, after the Organization of Petroleum Exporting Countries predicted that demand for oil will grow next year but that recovery will be slow, and on predictions of cold weather for parts of the US that is expected to raise demand for heating oil.
November contracts for ...
October 12, 2009
by Elaine Frei
Crude oil prices were higher Monday on a weaker US dollar, as colder weather moved in to much of the United States, and on optimism ahead of major corporate earnings reports due this week.
In afternoon trade, November contracts for West Texas Intermediate crude had added $1.53 to $73.30 per barrel, while at last report Brent crude was $1.50 higher to $71.50 ...
October 7, 2009
by Elaine Frei
Gold prices hit a record price for a second day in a row, rising to $1,049.70 per troy ounce in New York while December contracts ended floor trade at $4.70 higher on the session to trade at $1,044.40 per troy ounce.
Other precious metals also saw gains as December silver was up 21 cents to $17.50 per troy ounce and January platinum ...
October 6, 2009
by Elaine Frei
The price of crude oil was higher Tuesday on a weak dollar, which declined on reports that some oil producing countries are looking to remove the dollar as the currency used in oil trades, as well as on gains in equities markets.
November contracts for West Texas Intermediate crude added 47 cents to $70.88 per barrel on the New York Mercantile ...
October 2, 2009
by Elaine Frei
Crude oil prices declined Friday after the US Labor Department said that 263,000 jobs were lost in the US in September, pushing the unemployment rate there to 9.8 percent.
That translates to 15.1 million people now out of work in the US, according to the latest figures, raising further worries about demand for oil and oil products.
November contracts for West ...
October 1, 2009
by Elaine Frei
November contracts for West Texas Intermediate crude were down 46 cents to $70.15 per barrel at just past 2 p.m. in New York, while at last report, Brent crude was down 55 cents to $68.52 per barrel on the ICE Futures Europe exchange in London.
The declines came on continuing demand concerns after first-time jobless claims grew by 16,000 to 551,000 ...
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