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December 22, 2009
by Elaine Frei
The price of crude oil was higher Tuesday, regaining early declines after the US dollar dropped gains versus the euro and on new data from the National Association of Realtors showing that existing home sales in the US grew by 7.4 percent in November over the previous month.
Meanwhile, the Organization of Petroleum Exporting Countries left production quotas unchanged ...
December 17, 2009
by Elaine Frei
Natural gas prices were higher Thursday after the US Energy Information Administration reported that inventories dropped the most ever last week, falling 207 billion cubic feet to 3.57 trillion cubic feet , still nearly 14 percent above the five-year average for this time of year.
The drawdowns came as cold weather hit major population centers in the ...
December 16, 2009
by Elaine Frei
Crude oil prices saw gains Wednesday after the US Energy Information Administration reported that crude oil and distillates inventories fell more than expected last week and gasoline stockpiles grew less than had been anticipated, while a weaker US dollar also boosted prices.
Crude oil inventories were down 3.7 million barrels in the US in the week ending 11 December, while distillates ...
December 14, 2009
by Elaine Frei
Crude oil prices were mixed Monday, falling slightly in New York trade about fifteen minutes before the close of floor trade but gaining slightly in London.
January contracts for West Texas Intermediate crude were 16 cents lower to $69.71 per barrel not long before the close of the floor trade session on the New York Mercantile Exchange, while Brent ...
December 9, 2009
by Elaine Frei
Crude oil prices were lower Wednesday after the US Energy Information Administration reported that while crude oil stockpiles fell by 3.8 million barrels during the week ending 4 December, gasoline inventories added 2.2 million barrels and distillates, including heating oil and diesel fuel, added 1.6 million barrels to storage.
At about half an hour before the close of floor trade on the ...
December 8, 2009
by Elaine Frei
Crude oil prices were lower again Tuesday, dropping for a fifth session in a row, as the US dollar strengthened and after disappointing reports on manufacturing from Germany and the U.K.
January contracts for West Texas Intermediate crude was down $1.31 to $72.62 per barrel on the New York Mercantile Exchange, while January Brent crude dropped 91 cents to $75.52 per ...
December 7, 2009
by Elaine Frei
Crude oil prices fell Monday on remarks from US Federal Reserve chairman Ben Bernanke which indicated that recovery of the US economy might not come quickly as the labor market remains week and inflation will remain low and might even go lower than present rates.
January contracts for West Texas Intermediate crude was $1.67 lower to $73.80 per barrel on the ...
December 3, 2009
by Elaine Frei
Crude oil prices fell slightly in New York trade on Thursday after the Institute for Supply Management services index fell unexpectedly and as the US dollar strengthened.
January contracts for West Texas Intermediate crude dropped 14 cents to $76.46 on the New York Mercantile Exchange, but at last report January Brent crude was 48 cents higher to $78.36 per barrel ...
December 2, 2009
by Elaine Frei
Crude oil prices were lower Wednesday after the US Energy Information Administration reported in its weekly inventories report that crude oil and gasoline stockpiles grew in the US last week.
The EIA said that crude oil inventories were up by 2.1 million barrels in the week ending 27 November, while gasoline stockpiles added 4 million barrels even though refineries have cut ...
December 1, 2009
by Elaine Frei
The price of crude oil was up Tuesday as the US dollar weakened and several reports that manufacturing activity was up in both the US and China last month raised hopes that demand for oil and oil products could begin to improve soon.
January contracts for West Texas Intermediate crude had added $1.57 to $78.85 per barrel at just before 1:30 ...
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