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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 29th 2012) Its been an extremely low volume trading month, even for August, with investors waiting with baited breath ahead of Bernanke’s annual speech, this Friday, in Jackson Hole, Wyoming. Last week, the Fed sparked some optimism that another round of quantitative easing is on deck. Precisely, in the Fed’s meeting minutes, the following [...]
(Aug 7 2012) Equity markets rallied today on optimism that a government plan to purchase bonds in Europe would provide a solution to the region’s debt crisis. Here are the commodities that saw price swings today: Oil Prices Crude oil for September delivery increased 1.3 percent, to $93.36 on the New York Mercantile Exchange, in [...]
(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 30 2012) The markets, and oil prices, were in limbo Monday, with investors adopting a “wait-and -see” approach ahead of this week’s scheduled Central Bank meetings in the United States and Europe. Starting on Tuesday, American Federal Reserve policy makers will participate in a two-day meeting. When that meeting ends on Wednesday, an official [...]
(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 [...]
Markets tumbled in today’s regular session, due to pessimism surrounding the outcome of a meeting of European leaders this week. Today’s developments in Europe include Cyprus’ request for aid, Greece’s finance minister’s resignation, and a report by Greek Prime Minister Antonis Samaras will miss the coming European Union summit as he recuperates from eye surgery. Here [...]
(June 22 2012) Here is a round-up of some of the biggest stories on the commodities market this week. 1.Oil near nine-month low, heads for weekly drop on economic uncertainty.Full story on Bloomberg 2. U.S. Corn Heads for Biggest Weekly Gain in Two-Years. Full story on Reuters 3. Gold Heads for Biggest Weekly Loss Since [...]