US oil prices pared gains after data from US Energy Information Administration showed that domestic crude inventories jumped to a new record to overshadow a slump in the dollar. Light, sweet crude oil for May delivery was most recently up 43 cents or 0.9% at $47...
US DOLLAR TECHNICAL ANALYSIS Prices reversed downward as expected, making good on bearish cues telegraphed through negative RSI divergence. Near-term support is in the 11854-78 area (March 2009 high, 14...
US DOLLAR TECHNICAL ANALYSIS Prices turned lower as expected, with a break of chart support pointing to further weakness ahead. A daily close below the 11854-78 area (March 2009 high, 14.6% Fibonacci expansion) exposes the 11679-737 region (February 26 low, 38.2% Fib retracement...
On Tuesday crude oil futures edged higher, as investors swallowed strong manufacturing data from the euro zone...
According to the chairman of FACTS Global Energy (FGE), global crude oil prices could trade between $35 to $40 a barrel by the end of the second-quarter of 2015...
On Monday crude oil futures tumbled 2%, as China's imports weakened and bearish comments by Saudi Arabia’ oil minister weighed on the prices...
On Friday, crude oil futures rose over 2%, as the greenback remained pressured by the Federal Reserve's most recent policy statement...
On Wednesday West Texas Intermediate oil futures neared the lowest level in six years, amid expectations supply data will show U.S. crude inventories rose to the highest level on record last week...
On Monday, OPEC released a report predicting the U.S. shale oil boom could be over by the end of 2015, almost declaring the "mission accomplished" in its efforts to battle the US shale oil boom...
US DOLLAR TECHNICAL ANALYSIS Prices may be readying to correct lower as negative RSI divergence warns of fading bullish momentum. Near-term resistance is at 12221, the 50% Fibonacci expansion, with a break above that on a daily closing basis exposing the 61.8% level at 12335...
Fears that a nuclear agreement with Iran could end sanctions imposed on the country and flood the already oversupplied market with oil are "unduly bearish," the managing director at Clearview Energy Partners said in an interview on Tuesday...
On Tuesday U.S. crude oil futures traded near a six-year low, as investors awaited fresh weekly information on U.S. stockpiles of crude and refined products to estimate the strength of demand in the world’s largest oil consumer...
US DOLLAR TECHNICAL ANALYSIS Prices may be losing steam after hitting a new 11-year high as signs of negative RSI divergence begin to emerge. A daily close back below the 38.2% Fibonacci expansionat 12107 exposes the 23.6% level at 11965...
Oil prices started the week with another drop, pressured by the prospect of Iran adding oil to an already oversupplied global market...
According to the International Energy Agency (IEA), sharp drops in the United States rig count had been the "key driver" of a recent recovery in oil prices, which had seen crude prices increase to $60 (56 euros) per barrel after falling as low as $46 in January...
On Wednesday oil prices staged a moderate recovery, as market players anticipated key U.S. inventory data. Data from an industry group late Tuesday showed that U.S...
Brent oil futures fell to the lowest level in more than two weeks on Tuesday, as a firmer dollar weighed on the commodities complex...
On Monday Brent oil futures fell below $59 a barrel touching the lowest level in almost two weeks, as bearish comments from OPEC Secretary-General Abdullah al-Badri weighed on the sentiment...
On Wednesday U.S. crude-oil futures rose Wednesday ahead of U.S. inventory numbers, while Brent declined. Both oil benchmarks had settled higher on Monday...
Oil dropped more than 1 percent on Monday, with Brent slipping to around $62 a barrel, depressed by a stronger dollar and a rise in Libyan crude output...
