Tag Archives: Oil

Oil prices steady ahead of Fed

Oil prices remain steady and held onto Monday’s gains as the dollar took a pause from its rally ahead of a testimony by Federal Reserve Chairman Ben Bernanke. Investors remained on the sidelines on Tuesday which helped New York-traded oil prices trade in a range between the daily low of $96.75 a barrel and a session high of $97.23 a barrel. On Monday on the New York Mercantile Exchange,...

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May 21, 2013 @ 8:52 am

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Dow Jones hits record high, oil settles at 5-week high

The Dow Jones Industrial Average hit a record high on Tuesday,  closing the North American trading session at 14,559.65 points, adding 111.9 points, or 0.8 percent. The S&P 500 Index also rose, but was less than 2 points of its all-time closing high hit in October 2007, gaining 12.08 points, or 0.8 percent, to 1,563.77. US equities rallied sharply after economic data that showed...

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March 26, 2013 @ 8:53 pm

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Oil prices drop due to high inventories, falling demand

Despite unrest in North Africa and the Middle East, there have been economic worries and concerns about an oversupply of oil inventories. This led to oil prices trading lower on Monday, down from a four-month high last Thursday. The CFD for crude is down to $95.50 in the Europe session today, trading sideways since its decline from Thursday’s high of $96.48. Meanwhile the crude oil...

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January 21, 2013 @ 2:27 pm

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Oil falls on US budget worries

Commodities traded lower on Tuesday, being weighed down by the US budget impasse. There is increasing concerns due to the slow progress in negotiations to reach a deal to avert the so-called “fiscal cliff". There is  less than a month left before $600 billion in automatic budget measures kick in on January 1st, 2013. Republicans handed a proposal to the White House on Monday for steep...

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December 4, 2012 @ 9:33 pm

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