Crude Oil price outlook – Oil higher on US data, inventories and Cushing decrease

Crude oil future contracts closed higher on US economic data (Auto and Housing numbers) a decline in distillate and crude oil inventories in the US, a 3.7% rise in gasoline pump sales kicking off the driving season and a first in 10 week decrease in WTI inventories at Cushing, OK. US housing numbers come out…Read moreRead more

Euro outlook – Euro shrugs off Spain Rating cut in early trading in Tokyo

Euro falls from the 1.2306 to 1.2264 in early morning trading in Tokyo. Not as steep a fall as we expected but we may see some action when New York opens later today. At the same time the reaction is fairly muted compared to the whiplash we saw earlier. In the news today there is…Read moreRead more

Crude Oil outlook – Trading oil after a three day weekend

Here is what is going to be on our discussion agenda after we come back from the 3 day Memorial Day break Start of the US driving season and its impact on distillate inventory – when will the numbers come out. The constant coverage of Hurricane season in the Gulf of Mexico and the arrival…Read moreRead more

OGRA cuts petroleum product prices

Following in the footsteps of Chinese fuel and gas price adjustments earlier this week, OGRA (the Pakistan Oil and Gas Regulatory Authority) cut fuel prices yesterday in Pakistan inline with the reduction in crude oil prices in the Middle East and internationally. New prices on the retail pumps are now Petrol Rs 69.04 per litre…Read moreRead more