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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 ...
September 30, 2009
by Elaine Frei
Crude oil prices rose significantly Wednesday after the US Energy Information Administration released its weekly inventories report, which showed that gasoline stockpiles were lower in the week ending 25 September.
Gasoline inventories dropped by 1.6 million barrels in the US last week, against an expected rise of 1.2 million barrels, sending prices higher even though crude oil stockpiles rose by ...
September 29, 2009
by Elaine Frei
Crude oil prices were a bit lower, dropping in both New York and London Tuesday as worries over the Iran situation took a back seat to continuing concerns about demand after some analysts said the dispute between Iran and the west over nuclear installations in Iran would not likely produce supply disruptions.
November contracts for West Texas Intermediate crude were down 13 ...
September 28, 2009
by Elaine Frei
The price of crude oil was up Monday ahead of a number of new reports on issues such as US unemployment, home prices, and consumer confidence, while the retail price of gasoline in the US dropped below $2.50 per gallon for the first time in two months.
November contracts for West Texas Intermediate crude were up 82 cents to $66.84 ...
September 25, 2009
by Elaine Frei
The price of crude oil ended slightly higher in New York Friday on new tensions over Iran’s nuclear enrichment program after US President Barack Obama criticized Iran for “breaking rules” in delaying notification to the International Atomic Energy Agency of a new uranium enrichment plant it is building.
The US and some other Western nations believe that Iran intends to use ...
September 24, 2009
by Elaine Frei
Crude oil prices took another big drop Thursday as the US dollar strengthened and after the National Association of Realtors said that US existing home sales dropped by 2.7 percent in August, casting doubt on just how fast and how far the economy has recovered and will continue to recover.
November contracts for West Texas Intermediate crude was down $3.22 ...
September 23, 2009
by Elaine Frei
Crude oil prices were lower Wednesday after the US Energy Information Administration said in its weekly US inventories report that crude oil, gasoline and distillates supplies were all higher last week.
November contracts for West Texas Intermediate crude had dropped $2.80 near the close of floor trade to $68.96 per barrel on the New York Mercantile Exchange while at last report ...
September 22, 2009
by Elaine Frei
Crude oil prices were higher Tuesday as the US dollar weakened in relation to the euro and ahead of Wednesday’s new US inventories data from the Energy Information Administration.
October contracts for West Texas Intermediate crude were $1.86 higher to $71.57 per barrel on the New York Mercantile Exchange just before the close of floor trade, while November contracts added $1.67 ...
September 21, 2009
by Elaine Frei
Crude oil prices fell significantly Monday on concerns about demand and ahead of upcoming meetings by the US Federal Reserve, which will make a decision on US interest rates, and the G-20 nations, which will meet to consider solutions to the global recession.
October contracts for West Texas Intermediate crude were down $2.50 to $69.54 per barrel at about five minutes ...
September 17, 2009
by Elaine Frei
The price West Texas Intermediate crude fell Thursday by 6 cents to $72.45 per barrel for October contracts by about five minutes before the close of the floor session on the New York Mercantile Exchange after a day of up-and-down trade that saw the price go as high as $73.16 per barrel before settling lower.
Meanwhile, at last report ...
September 16, 2009
by Elaine Frei
Crude oil prices were up Wednesday after the US Energy Information Administration reported that crude oil stockpiles in the United States dropped 4.7 million barrels last week, nearly 2 million more barrels of a decline than had been anticipated, but gasoline stockpiles added half a million barrels during the week ending 11 September and distillates in stock, including heating oil ...
September 15, 2009
by Elaine Frei
Natural gas prices rose again in New York Tuesday on the New York Mercantile Exchange, making gains despite inventories that are more than ample concerns that there won’t be enough room to store the 12 percent more in inventory the US Energy Information Administration has forecast will flow in by October.
Nymex October natural gas futures were up another 2 cents on the ...
September 14, 2009
by Elaine Frei
October contracts for West Texas Intermediate crude dropped 43 cents Monday to $68.86 per barrel on the New York Mercantile Exchange and Brent crude was down 13 cents to $67.56 per barrel on the ICE Futures Europe exchange in London as many refineries began to ramp down production for scheduled autumn maintenance.
Nymex October gasoline was down 2 cents ...
September 11, 2009
by Elaine Frei
The price of crude oil fell Friday, with October contracts for West Texas Intermediate crude dropping $2.66 to $69.28 per barrel on the New York Mercantile Exchange after it failed to rise above the month’s previous high of nearly $73 per barrel as equities markets fell in New York, but prices remained 1.9 percent higher at the end ...
September 10, 2009
by Elaine Frei
The price of crude oil was higher after the US Energy Information Administration reported that inventories of crude dropped much more than had been expected last week.
The EIA said that crude oil stockpiles fell by 5.9 million barrels in the week ending 4 September to 337.5 million barrels, but gasoline inventories were up 2.1 million barrels to 207.2 ...
September 9, 2009
by Elaine Frei
The price of crude oil rose again Wednesday ahead of a meeting of the Organization of Petroleum Exporting Countries, which is set to begin after the markets close today and during which the cartel is expected to hold production quotas steady.
October contracts for West Texas Intermediate crude was $1.08 higher to $72.18 per barrel about an hour before ...
September 8, 2009
by Elaine Frei
Crude oil prices were up the most in a month after the US dollar weakened, making oil cheaper for investors buying with other currencies and ahead of a meeting of the Organization of Petroleum Exporting Countries, set for Vienna, Switzerland tomorrow, where the cartel is expected to hold production quotas at current levels for the time being.
October contracts for West ...
August 28, 2009
by Elaine Frei
Crude oil prices were up in New York at the end of floor trade after being up and down all session, rising as the dollar fell and falling as the dollar rose.
The gains on the session were helped by new data showing that consumer confidence was down less than had been expected in August and that the US economy didn’t contract ...
August 27, 2009
by Elaine Frei
Crude oil prices were lower for much of the session Thursday, falling as far as $69.83 per barrel in New York trade at one point.
However, by near the end of the floor trade session, October contracts for West Texas Intermediate crude was up 91 cents to $72.34 per barrel on the New York Mercantile Exchange, while at last report Brent crude ...
August 26, 2009
by Elaine Frei
Crude oil prices were lower in afternoon trade in New York on Wednesday after the US Energy Information Administration reported that crude inventories were up by 200,000 barrels in the week ending 21 August and distillates inventories were up by 800,000 barrels, but gasoline stockpiles dropped 1.7 million barrels during the week to 208.1 million barrels.
At nearly 1:30 p.m. on ...
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