Falling Oil Supplies

Oil futures rose amidst US gasoline supplies decreasing and the housing sales in the US picking up pace. Brent Crude futures rose by 0.83 percent to USD $ 106.03 per barrel, while WTI crude futures rose by 0.79 percent to be at USD $ 90.58 per barrel. The US Energy Department declared in a report…Read moreRead more

Chinese data worse than expected

Oil futures fell from a seven week high price after new data released showed that the economic recovery in China was weaker than previously expected. Brent crude futures declined by 0.31 percent to USD $ 103.68 per barrel, while WTI crude futures declined by 0.28 percent to USD $ 88.97 per barrel. There have also…Read moreRead more

US pressure on Iran heating up

Crude oil futures rose to a seven week high owing to rising tensions between the United States and Iran, along with expectations about the US Federal Reserve increasing the stimulus in the US economy. Brent crude futures increased by 0.29 percent to be at USD $ 103.670 per barrel, while WTI crude futures rose by…Read moreRead more

Chinese Premier disappoint investors

After increasing for three consecutive days, oil futures fell on Monday, the 16th of July 2012. The main reason for this sudden mood shift in the market was due to the Chinese Premier, Wen Jiabo, stating that the expected economic recovery of China for the second half of this year was yet to gain momentum….Read moreRead more

China to Boost its economy

Oil rose for a third consecutive day on the strength of the belief that economic growth in China would receive a boost in the second half of this year, along with more sanctions announced on Iran by the United States. Brent crude future rose by 1.32% to close at USD $102.40, while the WTI future…Read moreRead more

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