Oil prices advanced 1.17% against the USD for the 24 hour period ending 23:00GMT, closing at 89.93, amid decline in the crude oil inventories. Late Tuesday, the American Petroleum Institute reported that crude oil inventories declined 5.05 million barrels last … Continue reading →

Oil prices advanced 2.70% against the USD for the 24 hour period ending 23:00GMT, closing at 88.89. At GMT 0300, Oil is trading at USD 88.78 per barrel in the Asian session, 0.12% lower from 23:00GMT, with sentiment subdued after … Continue reading →

Oil prices declined 1.83% against the USD, on Friday, for the 24 hour period ending 23:00GMT, closing at 86.99, as hopes for a clear roadmap for solving the European debt crisis and energizing recovery in the US faded. Investors shunned … Continue reading →

Oil prices declined 1.45% against the USD for the 24 hour period ending 23:00GMT, closing at 88.61, as investors bet that oil demand would falter, after the Federal Reserve Chairman, Ben Bernanke stated that the economic recovery is fragile. At … Continue reading →

Oil prices advanced 4.07% against the USD for the 24 hour period ending 23:00GMT, closing at 89.91, amid speculation that tropical storms would further impact oil production in the Gulf of Mexico and affect oil supplies. A surge in equity … Continue reading →

Oil prices advanced 3.55% against the USD for the 24 hour period ending 23:00GMT, closing at 86.39, amid speculation that a storm building in the Gulf of Mexico could impact oil supplies in the US. Oil prices were further buoyed … Continue reading →

Oil prices declined 2.92% against the USD for the 24 hour period ending 23:00GMT, closing at 83.43, extending its previous session losses, amid speculation that signs of a weakening US economy could lead to a drop in fuel demand. Oil … Continue reading →

Oil prices declined 2.47% against the USD, on Friday, for the 24 hour period ending 23:00GMT, closing at 86.54, as a weak jobs report stoked recession concerns, outweighing production shutdowns in the Gulf of Mexico as tropical storm, Lee formed … Continue reading →

Oil prices advanced marginally against the USD for the 24 hour period ending 23:00GMT, closing at 88.73, amid encouraging US manufacturing and factory orders data. China’s positive Purchasing Managers’ Index (PMI) also helped bolster oil prices. Oil prices also inched … Continue reading →

Oil prices advanced 0.19% against the USD for the 24 hour period ending 23:00GMT, closing at 88.70, after a government report showed a sharp drop in gasoline stockpiles last week thereby outweighing the impact of surging oil inventories. The US … Continue reading →

Oil prices advanced 0.98% against the USD for the 24 hour period ending 23:00GMT, closing at 88.53, as the Fed’s minutes released yesterday raised hopes for more US economic stimulus. Late Tuesday, the American Petroleum Institute reported that crude-oil inventories … Continue reading →