Crude Oil Crude Prices ended marginally positive yesterday after continuing to trade in the negative zone for most of the day. Brent fell by $ 10cents to close at $55.65 /bbl, WTI rose by 25 cents to settle at $ 53.36 /bbl. This is reflective of the ‘Monkey with his hand in the nut jar syndrome’. Nobody wants to be caught short should there actually be an impact of the production cut on stocks even…
Read MoreCrude Oil Crude Prices showed a mixed response yesterday. While Brent fell by $ 10cents to close at $55.65 /bbl, WTI rose by 25 cents to settle at $ 53.36 /bbl. The higher settle on WTI may have had something to do with the fact that it expires shortly. Crude prices stayed in the negative zone for most of the US trading day. However, towards the end of the day, there was some rally due…
Read MoreCrude Oil Prices closed marginally lower today. Brent fell by $ 27 cents to close at $55.75 /bbl and WTI by 9 cents to settle at $ 53.11 /bbl. Given the incredibly bearish data from the DOE, it is indeed remarkable that it settled so high. The DOE reported a substantial build in crude stocks of 9.5 million barrels. It also reported a significant build in gasoline stocks and a small draw in gasoil stocks.…
Read MoreCrude Oil Prices seesawed their way up today. Brent rose by $ 0.38 to close at $55.97 /bbl and WTI by 27 cents to settle at $ 53.19 /bbl. However, the Brent price settled well off its session high of $56.46 /bbl Prices are likely to be damped further today following another massive build as per API data which reported a build of 9.9 MB in crude, 0.7 MB in Gasoline and 1.5 MB in distillates.…
Read MoreCrude Oil Oil prices continue to see saw every day. Today was its turn to go down. Brent fell by $ 1.11 to close at $55.59 /bbl and WTI by 93 cents to settle t $ 52.92 /bbl Yesterday’s drop was attributed to a report that US shale oil production was expected to rise by to levels not seen for many months. Furthermore the rate of increase is also at multi month highs suggesting that production may…
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