Crude Oil Crude Oil futures had a wild see saw during the day, initially rising on expectations of a long term tie up between OPEC and Russia to control production, but eventually dropping due to renewed strength in the US Dollar. Brent futures settled 42 cents lower at $ 65.25 /bbl. The WTI March contract, which expires today settled at $ 61.90 up 22 cents from its previous settle on Friday. Another factor that…
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Crude Oil On a day when the US was closed, crude drew strength from the ongoing recovery in the stock markets as well the possible tensions in the Middle East. Brent crude futures rose for the fourth day in a row to settle $ 1.16 higher at $ 65.67 /bbl, gaining 51 cents. WTI, was up 82 cents at $62.50 /bbl though a settle was not recorded due to the holiday. Israeli Prime Minister Benjamin…
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Crude Oil Continued weakness in the US Dollar and strength in US stocks helped Crude Oil futures rise for the third day in a row. Brent crude futures settled at $ 64.51 /bbl, gaining 51 cents. WTI, gained 34 cents to close at $61.68 /bbl. While crude futures have retraced close to 50% of the fall from the close of two weeks ago to the low of last week, there has been a noticeable reduction…
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Crude Oil A weak US dollar helped offset the inherent weakness in Crude Oil futures. Brent crude futures settled at $ 64.30 /bbl, up 3 cents on the day. WTI, gained 74 cents to close at $61.34 /bbl. The dollar languished near a three-year low against a basket of currencies on Friday, headed for its biggest weekly loss in nine months, as a slew of bearish factors offset support for the U.S. currency from rising…
Read MoreCrude Oil Crude prices shrugged off ‘less bearish than expected’ stock data from the DOE and chose to focus on other data to climb strongly after the release of data. Brent crude futures rallied by $ 1.64 to settle at $ 64.23 /bbl. WTI, gained $ 1.41 to close at $60.60 /bbl. Yesterday’s rally apparently did not have much to do with Oil Fundamentals. Saudi Energy Minister Khalid al-Falih said major oil producers would prefer…
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