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Oil rose for a third straight day Monday, with benchmark oil for May delivery adding 75 cents to finish at $88.76 on the New York Mercantile Exchange. The May contract expired at the close of the trading session. The new front-month contract, June oil closed at $89.19 a barrel. Oil finished last week with a [...]
By Carlos Rivera for GEonomic Investing West Texas Intermediate and Brent Crude started February off on a strong note, crossing into the month near four-month highs; but both shed all of their 2013 gains to close at their lowest price point of the year. Front-month Brent crude oil dropped 5.5%, while WTI shed about $7 [...]
November was a volatile month for crude oil, which experienced volatile price swings. Oil ended up closing November with a modest gain, West Texas Intermediate Crude closed the month $88.91 a barrel on the New York Mercantile Exchange. Based on the front-month contract settlements, this marks a 3.1% gain for the month. Brent crude closed [...]
Crude-oil futures rose on the last day of the month as floor trading at the New York Exchanges opened after a two-day closure caused by Hurricane Sandy; however, this was not enough to overshadow an overall poor monthly performance for oil prices. On October 31st, crude oil for December delivery rose 0.7%, to $86.24 a [...]
(Sept 30 2012) Crude-oil dropped 4.4% in September as economic concerns overshadowed escalating concerns that tensions in the Middle East would disrupt supplies. On the last trading day of the month, crude for November delivery added 0.4% to settle at $92.19 a barrel. Despite the monthly price decline oil gained 8.5% in the third quarter, [...]
(Sept 3 2012) Crude gained almost 10% in August, its third straight monthly gain due to Middle East tensions, a fire at a Venezuelan refinery, problems with output in the north sea and Hurricane Issac in the Gulf Coast. At the end of the month, more upside came from expectations that central banks, both in [...]
(Aug 21 2012) Crude-oil futures for September delivery climbed 1.65 to $97.54 a barrel on the New York Mercantile Exchange Tuesday, on optimism that the European Central Bank will act to combat the euro-zone debt crisis. Oil is trading at its highest since early May. Adding to the upside, was a retreating greenback. The ICE [...]
(Aug 15 2012) Oil futures added $0.90 or 1% to end at $94.33 a barrel, its highest since mid-May after the Enery Information Administration’s weekly reported showed a steep decline in inventories. The Energy Information Administration reported a decline of 3.7 million barrels in crude inventories. This contrasted with expectations, according to a Bloomberg survey, that [...]
(Aug 2 2o12) Despite a relatively rough month in the commodities markets in general, oil prices managed to close higher. It was not a smooth ride, however; as disappointing macroeconomic data caused oil to go on some steep price corrections. One of oil’s biggest slides was at the end of the month when soubts about [...]
(July 3, 2012) It was a volatile month for crude oil, which plunged to multi-month lows, and also snapped back with aggressive rallies. On the last trading day of the month, oil futures surged 9.4%, their strongest rally in more than three years after European leaders came to agreement on a strategy to combat the [...]