Crude Oil Price Update-Oil Declines Due to Speculation about OPEC increasing Output

Crude oil declined for a third consecutive day amidst speculation that OPEC shall raise its output quota. WTI crude futures fell by 0.53 percent to USD $ 98.490 a barrel. Brent crude futures fell by 0.45 percent to USD $ 113.96 a barrel. The current high level of oil price has increased the idea that…Read moreRead more

Gold and Silver Price Update-Gold Advances Due to Weak US Economy Data

Gold futures rose on the back of pessimism regarding the recovery of the US economy. Gold futures rose by 0.63 percent to USD $ 1542.40 an ounce. The US unemployment rate rose in May to 9.1 percent from its previous figure of 9.0 percent. There is a growing belief that the US Federal Reserve shall…Read moreRead more

Crude Oil Price Update- WTI Falls on Weak US Economic Data; Brent Rises

Oil futures fell by the biggest weekly amount in a month amidst news that the US Unemployment rate increased to its highest level this year. WTI crude futures fell by 0.18 percent to USD $ 100.22 a barrel. The US Labour Department stated that the number of payrolls increased by only 54,000 in May, the…Read moreRead more

Exchange Rate Update. EURO-USD, USD-JPY Rise

The Euro increased against all sixteen of its major trading currencies, after the German Chancellor, Angela Merkel, stated that Germany’s economic growth rate is impressive and the European Union is committed to maintaining the Euro. The EURO-USD exchange rate rose by 0.2847 percent to 1.4369. Inflation in Europe is around 2.7 percent, higher than the…Read moreRead more

Crude Oil Price Update-Futures Fall On News of Slowdown in Global Economy

Oil futures fell for a second day after reports showed that the number of new jobs added in the US declined, crude stockpiles increased and global manufacturing slowed down. WTI crude futures fell by 0.50 percent to USD $ 99.79 a barrel. Brent crude futures fell by 0.30 percent to USD $ 114.19 a barrel….Read moreRead more

Oil Price Update-Oil Advances Over Optimism of Greece’s Crisis Solution