WTI December oil futures tumbled lower again today, following the release of the weekly oil stats as crude output climbed to it’s highest level in more than fifteen years, whilst at the same time fuel consumption decreased. The Cushing crude oil inventories fell by 0.5...
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WTI Crude oil futures continue to consolidate in narrow trading range
Crude oil futures continued to trade in a narrow range yesterday on the daily oil chart, with the October WTI futures contract moving higher during the oil trading session and closing the session at $97.17 per barrel with a narrow spread up bar. This has...
Oil Market Analysis 4 June 2012
The ongoing turmoil in the financial markets and the apparent synchronised slowdown across all the major economies have finally taking their toll on the price of oil which, at the time of writing, has fallen to $83 per barrel. The next price point is, of...
Daily Oil Prices 29 May 2012
Following the recent sharp sell off in oil which has seen the WTI contract fall from a high of $110 per barrel to $91 per barrel at time of writing, it will be interesting to see whether OPEC, and in particular Saudi Arabia, are willing...
Daily Oil Prices Chart 18 August 2009
Even I was pleasantly surprised by the rebound in daily oil prices today following yesterday’s hammer candle but the issue now facing oil traders is whether crude oil can hold onto these gains as the oil market waits for tomorrow’s crude oil inventory data and...
Daily Oil Prices Chart 5 August 2009
Yesterday’s limited move in daily oil prices came against the backdrop of somewhat subdued equity markets, a modest strengthening of the US Dollar and a degree of profit taking as the oil market now looks forward to today’s crude oil inventories, ADP numbers and tomorrow’s...
Daily Oil Prices 23 July 2009
Yesterday’s weekly DOE figures were interesting in that it was the cut in refining activity which seems to have caught the attention of the oil market. Although this reduction does not appear to have translated into a build in the stock of crude it does...
WTI Oil Futures Direction – Monthly Candle Chart
Last year’s factors of a weak US dollar and technical elements in the chart for daily oil prices which helped to propel the oil price to new heights should not be discounted again this year. Despite the current battle between bearish energy fundamentals and the...
Crude Oil Price Today – February 25th 2009
Crude oil prices moved higher yesterday gaining $1.63 for the day with 9 and 40 day moving averages providing good support and resistance respectively. In an almost mirror image oil gained what it actually gave back a day before, but we notice that overnight the...
Oil Spot Prices – 23rd February 2009
Current oil price lower this morning despite OPEC forecasting additional cuts. Any decision is likely to be taken at OPEC’s next meeting in Vienna on 15th March. NYMEX’s main oil futures contract, light sweet crude for delivery in April, fell six cents to $39.97 a...
