Crude Oil Crude Oil added another day to the streak of increasing prices bringing the count to 6 now. Brent gained 11 cents to settle at $47.42 /bbl whilst WTI gained 19 cents to settle at $44.93 /bbl. Crude prices continued their rise during Asian trading hours yesterday and rose to above $ 48.00 / bbl during the London trading session. However, these prices couldn’t be sustained during the New York trading session and prices…
Read MoreCrude Oil Crude Oil prices took support from product draws in the US to post gains for the fifth day in a row. Brent gained 66 cents to settle at $47.31 /bbl whilst WTI gained 50 cents to settle at $44.74 /bbl. We have been mentioning the market is bearish and oversupplied and what have you, but that has not prevented 5 straight days of gains. So what is happening? In the first place, there…
Read MoreCrude Oil Crude Oil prices continued to rise, settling higher for the fourth consecutive trading session. Brent gained 82 cents to settle at $46.65 /bbl whilst WTI gained 86 cents to settle at $44.24 /bbl. This was after Brent touched an intraday high of $47.29 /bbl which was was also the highest in the last seven days. However, the gains in crude prices are ascribed to short covering and a weak dollar as opposed to rebalancing…
Read MoreCrude Oil Crude Oil prices had a fairly volatile day yesterday before ending marginally higher. Brent settled 29 cents higher at $45.83 / bbl while WTI settled 37 cents higher at $ 43.38/bbl Brent prices rose sharply in early morning trade in Japan making a high of $ 46.40 /bbl. and then slowly lost steam during the London and European trading day. As New York opened, Brent prices plunged to make a low of $45.20…
Read MoreCrude Oil Crude Oil prices continued to consolidate on Friday, with some shorts booking profits over the weekend. Brent settled 32 cents higher at $45.54 /bbl and WTI, 27 cents higher at $43.01 /bbl. Oil prices have fallen for five weeks in a row now. During the first half of the year, they have fallen about 20%. This is the largest first half percentage fall since 1997 (source http://investing.com) The fact that there is an…
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