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Oil Market News – 1st April 2009

Recent comments from Iran’s OPEC representative saying that further oil production cuts may not be necessary as the price of crude may have found a floor prompted a look at the arguments for either a rise of fall in daily oil prices. Bullish factors include:...

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Daily Oil Prices – WTI Chart 27th March 2009

In the face of a slight rebound in the US dollar, the advance in crude oil prices was supported by a further strengthening in the equity markets. Some ‘extra ammo’ definitely came from a bullish technical picture which possibly triggered institutional buying. Despite talks of...

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Oil Prices Today – 26th March 2009

Crude oil prices came  under pressure yesterday throughout the trading session with their decline being largely driven by the sell off in the equity markets.  A comment from Treasury Sec Timothy Geithner saying that the US would be open to an expansion of the IMF...

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OIL STATS – 25th March 2009

US crude oil inventories increased 3.3 million barrels in the week ending 20th March.  Analysts had been expecting a rise of about 1.2 million barrels.  At 356.6 million barrels crude oil inventories are now above the upper limit of the average range for this time...

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Crude Oil Prices Today – 24th March 2009

Daily oil prices advanced further yesterday on general optimism in the markets following the Treasury Department’s program that may generate a $1 trillion in financing to buy illiquid assets. The plan to use up to $100 billion in funds from the Troubled Asset Relief Program...

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Oil Trading News Update – 23rd March 2009

Crude oil futures settled up $1.73 at $53.80 after trading in a $51.62 to $54.05 range. The front contract is now at the highest since November 28th. This advance to multi week and multi month highs is partly bullish market response to today’s Treasury bank...

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Crude Oil Prices Today – 23rd March 2009

Crude oil prices showed an impressive resilience on Friday, maintaining the recent strong gains after shrugging off a significant decline in the stock market and some strengthening in the US dollar against the Euro. It did so amidst a lack of bullish input and following...

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Crude Oil Prices – 20th March 2009

Oil prices opened lower Friday in early trading, but stayed around $51 a barrel after the dramatic U.S. central bank moves to inject  $1 trillion into the financial system, and the bullish tone is now starting to take effect again this morning.  The move up...

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