Crude Oil Crude Oil futures reacted surprisingly indifferently to DOE stock data that could have been construed as bullish. Brent futures fell by 37 cents to settle at $ 55.86 / bbl while WTI lost 29 cents to settle at $ 53.11 /bbl. While the inventory data was admittedly bullish, the market chose to focus on the growth in US oil production. The EIA reports that this has reached 300 Kb per day and it…
Read MoreCrude Oil After spending most of the day in negative territory, Brent futures rose by 25 cents to settle at $ 55.98 / bbl while WTI gained 32 cents to settle at $ 53.40 /bbl. The sole reason for the late rally was a report that Saudi Arabia advised OPEC officials that it was in favor of extending the production cuts. No particular individual was quoted on this. In our opinion, this is a merely…
Read MoreCrude Oil Crude oil continued to gain in strength on Monday as well. Brent futures rose by 74 cents to settle at $ 55.98 / bbl while WTI gained 84 cents to settle at $ 53.08 /bbl. As we have been mentioning earlier, the market is extremely nervous and is reacting to every sign of disruption in supplies. While there is already political tension regarding Syria as Russia protested American action, the Sharara field in…
Read MoreCrude Oil An unexpected missile strike by the USA helped crude oil futures to continue their upward move for yet another day. Brent futures rose by 35 cents to settle at $ 55.24 / bbl while WTI gained 54 cents to settle at $ 52.74 /bbl. Both contracts reached near one month high levels immediately after news of the missile strike. Brent touched a high of $ 56.08 /bbl while WTI reach $ 52.94 /bbl.…
Read MoreCrude Oil Crude oil futures continued their relentless march upwards posting gains for yet another day. Brent futures rose by 53 cents to settle at $ 54.89 / bbl while WTI gained 55 cents to settle at $ 51.70 /bbl. The bulls have this market firmly in their grip as it ponders over the happenings of the next few months.For now, early this morning they have been given a fillip as news of the US…
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