Prices

Oil

Limited rebound for oil prices

Source: 
Reuters

Oil prices bounced back after plunging Tuesday, but the upside was kept in check by substantial supplies and continuing demand concerns. U.S. benchmark crude for October delivery was 89 cents higher Wednesday morning in electronic trading on the Nymex, to $93.77 a barrel, while in London Brent crude gained $1.08 to $101.42, Reuters reports.

Oil

Stock market slips, lower oil prices have impact

NEW YORK (AP) — Concerns over weaker global growth appeared to overshadow strong reports about the U.S. economy Tuesday, nudging the stock market to a tiny loss.

Crude prices sank 3 percent, pulling down stocks of oil producers. Small companies, which have fewer ties to the world economy, made gains. Meanwhile, the dollar reached a one-year high against the euro.

"It's the picture of U.S. strength against the backdrop of global weakness," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago.

Oil

Oil slides again on weak global manufacturing data, strong dollar

Source: 
Bloomberg

Worry that weak manufacturing data from China and Europe might slow global demand weighed on oil prices Tuesday, as did a strong dollar. WTI for October delivery plunged $3.08, or 3.2 percent, to settle at $92.88 a barrel on the New York Mercantile Exchange, while in London Brent crude slumped $2.45 to hit a 16-month low of $100.34 a barrel, Bloomberg reports.

Oil

Demand concerns drag oil lower

Source: 
Reuters

Weak factory data in China and Europe weighed on oil prices Tuesday. U.S. benchmark crude for October delivery, at $95.23 a barrel in electronic trading on the Nymex, was 73 cents lower than Friday’s close, while in London Brent crude dropped 87 cents to $101.91, Reuters reports.

Oil

Oil gains on strong U.S. economic data

Source: 
Bloomberg

Oil looks set to finish out the week higher in the wake of another positive piece of data on the U.S. economy, news of an unexpected rise in consumer confidence. West Texas Intermediate crude for October delivery was up 66 cents to $95.21 a barrel on the Nymex, while in London Brent crude settled 35 cents higher to $102.81, Bloomberg reports.

Oil

GDP data fuels oil price rise

Source: 
Bloomberg

Oil prices increased for a third straight day on the back of an upward revision in the U.S. gross domestic product figures and a hike in gasoline demand. West Texas Intermediate crude for October delivery gained 71 cents Thursday to $94.59 a barrel on the Nymex, while in London Brent crude was up 17 cents to $102.89, Bloomberg reports.

Oil

Oil price fluctuation smoothed by US production

Source: 
National Journal

Increasing U.S. oil production fuelled by the shale boom has helped to keep a lid on oil prices despite global crises that in past years would have triggered supply disruptions and price spikes, according to an Energy Information Administration analysis, National Journal reports.

Oil

Oil higher on stockpile drop

Source: 
Reuters

A greater-than-expected decline in crude stockpiles reported by the Energy Information Administration Wednesday helped push oil prices up. U.S. benchmark crude gained 15 cents to $94.01 a barrel after settling 51 cents higher on the Nymex Tuesday, while in London Brent crude for October delivery rose 21 cents to $102.71, Reuters reports.

Oil

Oil gains on rise in U.S. data

Source: 
Bloomberg

News of strong consumer confidence numbers, an increase in durable goods orders and an expectation of a stockpile drop sent oil higher Tuesday. West Texas Intermediate crude rose 58 cents to $93.93 a barrel on the Nymex, while in London Brent crude gained 17 cents to $102.82, Bloomberg reports.

Oil

Oil decline continues despite geopolitical concerns

Source: 
Reuters

Oil prices were still sinking Monday as crude was continuing to flow despite the ongoing conflicts in Iraq and Libya, although analysts predicted further significant declines were unlikely. U.S. benchmark crude was 47 cents lower to $93.18 a barrel, while Brent crude lost 18 cents to $102.11 toward the end of the European trading day, Reuters reports.

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