Crude Oil Crude oil recovered a significant part of Thursdays fall. Brent gained 82 cents to settle at $ 55.90 / bbl. WTI gained 72 cents to settle at $ 53.33 /bbl. The recovery has been attributed to the weakening of the dollar on Friday afternoon post a speech by Janet Yellen. Traders were also concerned about possible reduction of supply out of Libya where an armed faction has reportedly taken control of two major oil…
Read MoreCrude Oil Crude dropped significantly yesterday. Brent lost more than one dollar per barrel ($ 1.28) to settle at $ 55.08 / bbl. WTI lost $ 1.22 cents to settle at $ 52.61 /bbl. The immediate reason for the drop was given to be a Reuters report which suggested that Russia had failed to deliver on its promised cut of 300 Kb for the second month in a row. A stronger US dollar (now pushing…
Read MoreCrude Oil Crude was well supported in the face of fairly bearish data. Brent lost 15 cents to settle at $ 56.36 / bbl. WTI lost 18 cents to settle at $ 53.83 /bbl. Stock Data The DOE data, in terms of changes to stock is shown below. Basically, crude built by 1.5 Million barrels against an expectation of a 3.1 million barrel build. There was a small draw in Gasoline, which was a little…
Read MoreCrude Oil After staying in negative territory for most of the trading day, Crude spiked in the last half hour of trading to close almost square for the day. WTI lost 4 cents to settle at $ 54.01 /bbl. The Brent May Future, which becomes the front month today, settled 1 cent lower at $ 56.51 / bbl The constant ups and downs of prices may soon end up causing position fatigue. Time spreads which had…
Read MoreCrude Oil Crude showed mixed movement on Monday. Brent lost 6 cents to close at $55.93 /bbl while WTI rose by 6 cents to settle at $ 54.05 /bbl. It may be noted that the Brent future is slated to expire today. The more active Brent May Future settled at $ 56.52 / bbl The uncertainty of direction continues to plague the market. Data over the next week will show, not only stock levels everywhere,…
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