On Friday oil prices were up, as traders were hoping for reduction in US drilling and as a poll said OPEC output fell in February...
On Wednesday oil prices traded higher, as investors weighed improving economic data from China against signs of a continuing supply glut in the U.S, says The Wall Street Journal...
Industry group Oil & Gas UK calculated that due to falling oil prices and rising costs, the sector spent and invested £5.3bn more than it earned from sales during 2014. The outflow of cash was the biggest since massive investment in platforms in the 1970s preceded the flow of oil...
On Tuesday West Texas Intermediate oil futures declined for the sixth consecutive session on Tuesday, as continuous concerns over a supply glut in the U.S. drove down prices...
Crude oil futures declined at the beginning of the week, amid continuous concerns over a supply glut, especially in the United States, where inventories are still at record highs...
Oil inventories are surprisingly hovering near 80-year highs even as oil prices have tumbled by more than half since crude oil’s peak last June...
On Friday crude oil futures slid lower, as worries over a global supply glut undermined sentiment and after data on Thursday showed that oil supplies in the U.S. rose to the highest level on record...
Some experts suggest oil prices will be range-bound for a while before heading lower, even as low as $20 per barrel. Others believe oil prices are about to head north before settling somewhere between $70 and $80 per barrel. Who is correct and can we really know for sure...
When American Petroleum Institute supply data were released late Wednesday, oil market got shocked. However, investors still need to receive confirmation from the U.S. Energy Information Administration...
On Wednesday crude oil dropped steeply, as investors cashed up to stay in gains from a recent rally ahead of the release of weekly supply data from the U.S...
Oil rose on Monday to approach $62 a barrel, as concerns over the escalating conflict with Islamic State militants in Libya spurred predictions for lower supply levels in the second half of the year...
US DOLLAR TECHNICAL ANALYSIS Prices may have finally started to turn lower as expected following the appearance of a bearish Evening Star candlestick pattern. Near-term support is at 11740, the 14.6% Fibonacci retracement, with a break below that on a daily closing basis exposing the 23...
Crude prices in the US gained almost 5% as a weak USD and spending cuts in oil industry overshadowed the concerns of supply glut. WTI trades above USD 51/barrel At the time of writing, WTI Crude march futures traded at USD 51.27/barrel...
On Thursday oil prices rebounded more than $1 to $56 a barrel, after a two-day decline, as a weakened dollar and industry spending cuts offset fears of a supply glut. The agreement to halt months of deadly fighting in Ukraine also weighed...
Possible Parice pattern for next week breakout will bring more upside will confirm start of Wave 5 ..towards $63 where Price will tend to drop after U.S supply news...
Amid high Supply news around headlines prices still look for upside in hopes more supply will rise at high prices so traders look to sell at maximum high prices for next cooming months...
CRUDE OIL - With price extension seen on Wednesday, further downside pressure is likely. On the downside, support lies at the 48.00 level where a break will expose the 47.00 level. A break will aim at the 46.00 level and then the 45.00 level...
WTI oil futures on the Nymex rebound from weekly lows and edged higher during the Asian session on profit-taking on short positions after the recent slump. Remains below USD 50/ barrel Currently, WTI gained 1% and traded at USD 49.34/ barrel, having fallen to fresh weekly lows at 48...
Crude oil prices hit fresh 1-week lows sub $49 a barrel after EIA data showed crude inventories increase more than expected last week. Crude oil inventories rose 4.87 million barrels in the February 6 week according to the Energy Information Administration, against expectations of a 3...
Crude prices in the US extended the decline ahead of the supply report in the US which is expected to show inventories rose by 3.8 million barrels last week. WTI Crude falls below USD 49.50/barrel Prices hit a fresh session low of USD 49.13/barrel ahead of the weekly supply report in the US...
