Crude Price Outlook

Uncertainty in the USD affected the AUD-USD exchange rate on Friday. The market is still unsure about the size and scope of QE2 and its effects on the USD which should be clear after the Fed’s meeting next week. This uncertainty can be witnessed from the USD and was also the main reason for fluctuations…Read more

Friday’s US GDP report showed a modest increase in the third quarter’s GDP of 2%. Though the figure increased from the second quarter’s figure of 1.7% but was still less than what the economists expected to be 2.1%. This had an impact on the prices of gold which saw a bullish trend on Friday and…Read more

Much awaited US quarterly GDP figures were released by the US Commerce Department on Friday. The report showed modest US economic growth for this quarter of 2% which is greater than the previous quarter’s figure of 1.7% but less than the economists estimated figure of 2.1%. This modest increase in the GDP impacted the price…Read more

Crude oil fell in Asian trade today as the investors behaved cautiously ahead of Fed’s meeting next week and release of US quarterly GDP figures today. We believe that the release of quarterly GDP figures by US Commerce Department today will determine the oil demand outlook but these figures will not leave a very aggressive…Read more

Light sweet crude oil for December delivery went up by 24 cents, or 0.3%, to settle at $82.18/barrel receiving lifts from a weak USD and a decrease in the US weekly jobless claims data. It traded between $81.50 to $82.64/barrel while the trading volume on Thursday was the lowest for this year as the investors…Read more

Industry analysts polled by Bloomberg expect EIA’s report today to show an increase of 1 million barrels in crude oil inventories. We might well be seeing a bearish trend in the price of oil in today’s trading session. API has already reported an increase in the oil inventories in its weekly report on Tuesday. The…Read more

We predicted yesterday in our post that we might be seeing a recovery from the USD on Tuesday which will help in easing oil and gold prices. There were some signs of recovery from the USD as the USD-EUR exchange rate remained well below the $1.40/Euro barrier and later in the day it was trading…Read more

Crude oil for December delivery was trading at $82.34/barrel, down by 18 cents, at 1139 GMT while gold for December delivery was trading at $1,331.60 per troy ounce, down $7.30, at 1144 GMT. We believe that we will be seeing a bit of recovery from the USD today as we believe that the market has…Read more

The failure of the G20 meeting to reach any agreement over the trade imbalances and in turn the exchange rates has helped the USD to stay weak on Monday but as we mentioned in our yesterday’s post we believed the USD is already very weak and we do not expect to see it going down…Read more

USD was seen to be weak again on Monday morning mainly because of the fact that the G20 meeting failed to reach any agreement over the recent currency tension. At 0344 GMT, it was trading at $1.4026/Euro. As a result of this weakening of the USD the crude oil and gold prices have started moving…Read more