Oil prices declined 4.08% against the USD for the 24 hour period ending 23:00GMT, closing at 80.01, after report showed an increase in crude stock piles, raising speculation that fuel demand would falter. The Energy Information Administration reported that oil … Continue reading →

Oil prices advanced 2.51% against the USD for the 24 hour period ending 23:00GMT, closing at 83.41, after reports that European leaders are working out a plan to contain the region’s sovereign-debt crisis, bolstering demand for oil. Late Tuesday, the … Continue reading →

Oil prices advanced 0.93% against the USD for the 24 hour period ending 23:00GMT, closing at 81.37, supported by speculation that steps taken by the European Central Bank would resolve the debt crisis, raising demand for oil. Investors await the … Continue reading →

Oil prices declined 0.48% against the USD, on Friday, for the 24 hour period ending 23:00GMT, closing at 80.19, after the Group of 20 nations meeting on Friday failed to ease concerns over the European debt crisis, raising speculation that … Continue reading →

Oil prices declined 4.92% against the USD for the 24 hour period ending 23:00GMT, closing at 80.58, as investors sold off commodities as a decline in the financial markets further intensified worries that oil demand would falter. At GMT 0300, … Continue reading →

Oil prices declined 1.91% for the 24 hour period ending 23:00GMT, closing at USD 84.75 a barrel, after the Federal Reserve stated that there are “significant downside risks” to the US economic outlook. The Energy Information Administration, yesterday, reported that … Continue reading →

Oil prices advanced 1.52% against the USD for the 24 hour period ending 23:00GMT, closing at 86.40, amid speculation that the Federal Reserve would announce stimulus to bolster the economy. Late Tuesday, the American Petroleum Institute reported that crude-oil inventories … Continue reading →

Oil prices declined 2.49% against the USD for the 24 hour period ending 23:00GMT, closing at 85.11, after Standard & Poor’s cut Italy’s credit rating, raising concerns that the fuel demand would falter. Also, the worsening Greece debt crisis further … Continue reading →

Oil prices declined 1.48% against the USD, on Friday, for the 24 hour period ending 23:00GMT, closing at 87.97, amid concerns that the European leaders have not taken sufficient steps to control the region’s debt crisis. At GMT 0300, Oil … Continue reading →

Oil prices advanced 0.63% against the USD for the 24 hour period ending 23:00GMT, closing at 89.29, after the European Central Bank announced a coordinated effort with other central banks to provide liquidity to European banks, spurring hopes of a … Continue reading →

Oil prices declined 1.33% against the USD for the 24 hour period ending 23:00GMT, closing at 88.73. The Energy Information Administration reported that the oil inventories declined 6.7 million barrels in the week ended September 9. Gasoline supplies added 1.9 … Continue reading →