mynameisandhy Posted February 9, 2015 Author Report Share Posted February 9, 2015 Oil Record Weekly Strengthening 7.2% Monday, February 9th, 2015 Crude oil closed higher on Friday, noting weekly gain of 7.2%. Analysts say oil rose following apiknya US employment data which raised hopes for an increase in energy demand, as well as due to the reduced number of US rigs operating. Oil had gained two consecutive weeks, and in the last session gold rallied nearly 20%, but still 50% lower than the highest peak in the middle of last year. Data from Baker Hughes shows the number of rigs operating in the US as much as 1,456, and is the lowest level since March 2010. From last week, the number of operating rigs fell as much as 5.6%. In early December, the number of rigs in operation as of 1920, the drastic decline potentially reduce the number of US oil production. Oil on Friday's trading to close at $ 52.34 per barrel, with daily highs $ 53.16, and the lowest $ 50.72 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 10, 2015 Author Report Share Posted February 10, 2015 IEA report Reduce Oil Prices Rally Tuesday, February 10th, 2015 Crude oil prices traded lower turning on Tuesday's Asian session, after the International Energy Agency said that if the United States will still be the main source of supply growth in the world until 2020. The eroded expectations of a dramatic slowdown in output growth in shale oil. The IEA estimates that oil shale production growth will be hit by the fall of the current price, but then will regain momentum. In the same occasion IEA also predicts global oil demand will increase to 29.4 million barrels per day this year. The oil price rally could get an extra boost on Monday after the release of the monthly report of the Organization of Petroleum Exporting Countries. According to OPEC, oil demand for 2015 will increase to 29.2 million barrels per day as reduced supply growth in the US. While concerns about supply disruptions following the outbreak of the conflict in Libya has gradually eased. Strike by security guards who had been crippling Hariga oil port in eastern Libya is said to have ended on Monday night Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 11, 2015 Author Report Share Posted February 11, 2015 Oil Back Down, Level Approach $ 50 Per Barrel Wednesday, February 11th, 2015 Crude oil prices retreated on Tuesday after the International Energy Agency (IEA) warned of the possibility of further price decline due to increasing supply in this year. IEA says oil supplies of the countries belonging to the Organisation for Economic Cooperation and Development will approach the all-time record high of 2.83 billion barrels in mid-2015. Oil previously had gained three consecutive days until Monday due to a decrease in the number of drilling rigs operating in the US, and the Organization of the Petroleum Exporting Countries which raised expectations of world oil demand in 2015. OPEC expects oil demand to the cartel will reach 29.21 million barrels per day, up 430,000 barrels from the previous projection. In the medium term the IEA report released Tuesday OPEC expects oil demand to 29.4 million barrels per day this year, in addition to the US shale oil output growth will slow down before it gained momentum further increases. WTI crude oil on Tuesday closed at $ 50.96 a barrel, the highest level of $ 52.65, and the lowest was $ 49.86. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 12, 2015 Author Report Share Posted February 12, 2015 Oil Weakens 2 Session, Ends Under $ 50 Per Barrel Thursday, February 12th, 2015 Crude oil closed below 50 per barrel late on Wednesday after a report showed the US weekly oil inventories rose more than expected. Energy Information Administration reported US oil inventories last week rose 4.9 million barrels. Analysts polled by Reuters estimate of 3.7 million barrels kenaiakn, increase the amount of inventory that has reached a record high 413 million barrels on 30 January. Oil on Tuesday depressed after the International Energy Agency (IEA) IEA says oil inventories owned by the countries belonging to the Organisation for Economic Cooperation and Development will approach the all-time record high of 2.83 billion barrels in mid 2015. In the medium term IEA report released Tuesday OPEC expects oil demand to 29.4 million barrels per day this year, in addition to the US shale oil output growth will slow down before it gained momentum further increases. WTI crude oil trade on Wednesday closed at $ 49.45 per barrel, with daily highs and lows $ 51.14 $ 48.05 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 13, 2015 Author Report Share Posted February 13, 2015 Oil Gains Approximately 5% Friday, February 13th, 2015 Crude oil rose on Thursday, cut two straight sessions of decline after the oil industry cut capital spending, as well as the weakening dollar pushed oil purchases. Shell's chief executive said oil inventories may not be able to keep pace with growth in demand after the oil companies reduce investment budgets due to the slump in oil prices since June. French energy giant Total has become the latest company to announce a reduction in investment and job cuts due to lower oil prices. Total operating expenses mamangkas announced will be $ 1.2 billion this year, while capital expenditures for exploration of less than 30%. Previous oil fell in two consecutive days after the International Energy Agency (IEA) IEA says oil inventories owned by the countries belonging to the Organisation for Economic Cooperation and Development will approach the all-time record high of 2.83 billion barrels in mid 2015. While the Energy Information Administration reported US oil inventories last week rose 4.9 million barrels, higher than economists' estimates of 3.7 million barrels. WTI crude oil on Thursday closed at $ 51.34 a barrel, the highest level of $ 51.60, and the lowest $ 49.14 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 16, 2015 Author Report Share Posted February 16, 2015 Oil Gains Three Week streak Monday, February 16th, 2015 WTI crude oil posted a reinforcement three consecutive weeks, while the price of Brent oil is reaching its highest level this year after several energy company said it would reduce capital expenditures, as well as further decrease the number of rigs operating in the US. Oil prices rose immediately after the weekly data from Baker Hugher Inc. shows the number of active US rig to drill oil and gas this week is reduced as much as 84 into 1056, that number was the lowest since August 2001. On Thursday, the French energy giant Total has become the latest company to announce a reduction in investment and job cuts due to lower oil prices. Total operating expenses mamangkas announced will be $ 1.2 billion this year, while capital expenditures for exploration of less than 30%. Minyam WTI crude closed at $ 52.65 per barrel, with daily highs and lows $ 53.43 $ 51.03. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 17, 2015 Author Report Share Posted February 17, 2015 Factor 'oversupply' Back Dominate Oil Market Sentiment Tuesday, February 17th, 2015 Crude oil prices turned traded lower on Monday as market sentiment back overshadowed by concerns about oversupply. GDP data showed Japan's success out of the recession also failed to lift the world oil demand growth forecast. Currently crude for delivery in March, offered in a range of $ 52.30 or approximately 0.9% below the closing price on Friday. Had to move up in early Asian trading session, the price of 'black gold' should be re-dipped after Japanese GDP data showed October-December quarter economic growth was weaker than expected. While the decline in the number of rigs drilling in the US so far not able to change the view of oversupply in the global market. The decline in oil prices earlier this week in part also a reaction to strong gains last week, which was triggered by data on a record decline in the number of active rigs in the US. Analysts argue that, however, a significant oversupply will still be a factor that weighed on oil prices as output persist at a high level while demand is still relatively low. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 18, 2015 Author Report Share Posted February 18, 2015 Oil Rises Along Hope Closed Reduction Stock Wednesday, February 18th, 2015 WTI oil closed higher by investors weigh the threat of crude oil production in Libya and Iraq. Previous trade crude oil was down 1.95% related anxiety depressed Eurozone stability. Independent research organization, estimates Reseach JBC Libyan crude output fell by about 150,000 barrels per day, from 900,000 barrels in October after the attack Egypt to Libya blew up a gas pipeline near El Sarir oilfield. While in Iraq, the export of crude oil bad weather disrupted resulting in exports in January-largest oil producer in the Middle East is down 900,000 barrels per day. Instability in the two states of the world's largest oil producer makes assessing market will decrease the amount of global crude oil stocks so that it can re-balance the oil trade balance. But analysts warned the strength of the threat of surplus stocks of oil with US oil inventories reach 5-week highs. "The closure of US oil refineries, in the form of the treatment period and the action of the company, will weaken demand for crude oil, and exacerbate the surplus stocks of crude oil in the short term," said Gareth Lewis-Davies and Harry Tchilinguirian, analyst at BNP Paribas. Crude oil prices closed at $ 53.11 a barrel, near daily highs, $ 54.08, and away from daily lows $ 50.79 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 19, 2015 Author Report Share Posted February 19, 2015 Oil Corrected ahead of EIA data Thursday, February 19th, 2015 Oil prices fell with investors focused on the global surplus of crude oil stocks, especially in the US. Energy Information Administration (EIA) on Thursday to report the data in crude stocks ended on 13 February. This white paper is predicted to rise to a record new highs. Preliminary survey by Reuters predicted crude stocks will rise 3.1 million barrels. Demand for crude oil will usually fall in early spring with producer attached units for seasonal maintenance. Trading volume was also reduced a lot in the beginning of the session in the absence of some Asian countries due to Lunar New Year holiday. "The oil market is basically still a surplus, and prices will start to turn around when entering the second quarter," said Steve Sawyer, an analyst at Facts Global Energy. A few days later the price of oil rose upheaval in Libya and Iraq export barriers, but these short-term factors will likely fade in a few weeks. WTI oil prices remain well above $ 51 a barrel, near its lowest level and away from the daily $ 50.32 $ 53.41 daily highs. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 20, 2015 Author Report Share Posted February 20, 2015 Oil Still Stable European Session Friday, February 20th, 2015 WTI crude oil are steady to early European trading session this weekend, supported by expectations of return reduced number of rigs operating in the US. Weekly survey conducted Baker Hughes last week showed the number of rigs operating in the lowest level since 2011. The results of the survey with Baker Hughes will be released at 01.00 am in the morning later. Energy Information Administration on Thursday reported oil inventories rose 7.7 million barrels in the week ended February 13. Analysts surveyed by Platts expected a gain of 3.1 million barrels. However, release of data from the EIA not be undertaken as investors, once on Wednesday the American Petroleum Institute reported US oil inventories rose 14.3 million barrels. EIA also reported gasoline inventories rose 500,000 barrels, and distillate fuel inventories increased by 3.8 million barrels. Analysts had forecast gasoline inventories rose 443,000 barrels, while distillate fuel are expected to fall 2.2 million barrels. WTI crude oil traded the range of $ 51.94 a barrel at 15:30 pm, with daily highs and lows $ 52.44 $ 51.81. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 23, 2015 Author Report Share Posted February 23, 2015 Oil Still Stable European Session Monday, February 23, 2015 WTI crude oil are steady to early European trading session this weekend, supported by expectations of return reduced number of rigs operating in the US. Weekly survey conducted Baker Hughes last week showed the number of rigs operating in the lowest level since 2011. The results of the survey with Baker Hughes will be released at 01.00 am in the morning later. Energy Information Administration on Thursday reported oil inventories rose 7.7 million barrels in the week ended February 13. Analysts surveyed by Platts expected a gain of 3.1 million barrels. However, release of data from the EIA not be undertaken as investors, once on Wednesday the American Petroleum Institute reported US oil inventories rose 14.3 million barrels. EIA also reported gasoline inventories rose 500,000 barrels, and distillate fuel inventories increased by 3.8 million barrels. Analysts had forecast gasoline inventories rose 443,000 barrels, while distillate fuel are expected to fall 2.2 million barrels. WTI crude oil traded the range of $ 51.94 a barrel at 15:30 pm, with daily highs and lows $ 52.44 $ 51.81 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 24, 2015 Author Report Share Posted February 24, 2015 Oil Continues to Decline, consider OPEC Emergency Meeting Tuesday, February 24th, 2015 OPEC plans to hold an emergency meeting within six weeks, if crude oil prices continue to fall deeper. This comment pronounced Nigerian Oil Minister and President of OPEC today, Diezani Alison-Madueke, with consideration of the adverse effects of crude oil prices tumbled on balance sheet states the world's largest oil producers such as Nigeria, Venezuela, and Russia. Nigeria has lowered its Gross Domestic Product (GDP) from 4.5 to 4.8% of the country into 5.5% for this year due to falling crude oil prices, which covers 80% of government revenue. "Almost all OPEC countries experiencing difficulties, except perhaps the Arab bloc," said Alison-Madueke. "Hopefully [price] will be stable no less than $ 60, but we can not be sure," he added. The next OPEC meeting is scheduled in June. Emergency meeting in an unstable trading period will require the approval of all 12 members of OPEC. About three months ago, Saudi Arabia managed to convince his colleagues to maintain production of 30 million barrels per day in order to maintain market share amid the drop in crude oil prices since the middle of last year. This decision is far different from the traditional strategy of OPEC as a guardian of stability in oil prices. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 25, 2015 Author Report Share Posted February 25, 2015 Oil Not Much Engaged in Asian session Wednesday, February 25th, 2015 WTI crude oil did not move much until the end of the Asian trading session, traders await the release of US oil inventory data by the Energy Information Administration tonight. Chinese manufacturing activity expanded back failed to provide positive sentiment for oil. The American Petroleum Institute first reported US oil inventory data on Tuesday US time, with inventories rose 8.9 million barrels to say in the week ending February 20, larger than analysts' expectations of 4.7 million barrels. Preliminary data from HSBC showed China's manufacturing activity index expanded for the first time in the last three months amounted to 50.1, from January amounted to 49.7. The release at the same time break the estimated decline to 49.6 by economists. China is the second largest oil consumer in the world, naikknya manufacturing activity is expected to increase demand. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 26, 2015 Author Report Share Posted February 26, 2015 Oil Back to dwell in the Lower Level $ 50 Thursday, February 26th, 2015 US crude oil prices closed down on Tuesday as expectations that US crude supply report this week will show an increase to cover the positive news of the closure of Libyan oil fields due to power outages, said traders. Previously, Sarir oil field and near Messla in Libya was closed due to a power outage, back suppress the level of exports from OPEC member countries. Helped prop up the price of oil is the news that the Eurogroup has approved the Greek reform plan, so managed to get an extension of the financial assistance program. While the Libyan output is reduced and economic stability in Europe helped prop up the market, the increase in US oil supplies Srikat still shows excess supply on the market, said analysts and brokers. Trader await US oil supply data to be released on Wednesday morning by industry group American Petroleum Institute and government data on Wednesday night to see if the oil supply increased again last week. "The fundamentals of oil remains bearish," said Carsten Fritsch, commodities analyst and senior oil at Commerzbank in Frankfurt, adding that there is "excess supply in large quantities in the market." Survey Reuters on Monday estimated that the supply of crude oil, which is already at a record high, return increased by 4 million barrels last week. "We expect a sharp increase again in the statement of US crude oil supplies," said Fritsch. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted February 27, 2015 Author Report Share Posted February 27, 2015 Towards Oil Decline Two Weeks streak Friday, February 27th, 2015 WTI crude oil has not been moved to the end of the Asian trading session today, after a sharp drop in trading Thursday. Oil also toward a decrease in two successive weeks. WTI crude oil traded the range of $ 49.33 a barrel at 14:47 pm. The market is now waiting for the report the number of rigs operating in the US by the company Baker Hughes. Data released on Friday showed a slowdown in the reduction of the number of rigs in operation, with reported reduced 37 rigs or less than half of the reports the previous week. US oil inventories also continued to rise, the Energy Information Administration on Wednesday reported US crude stockpiles rose 8.4 million barrels and reached a record 434.1 million barrels. Sentiment towards the oil a little relieved after China's manufacturing activity data recorded version HSBC expansion for the first time in the last three months. China is the second largest oil consumer in the world, the expansion of manufacturing activity is expected to increase the demand for oil Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 2, 2015 Author Report Share Posted March 2, 2015 Slumping Oil Related Anxiety abundance of Supply Monday, March 2nd, 2015 US crude oil futures fell more in nearly -2 percent neared $ 48 a barrel after Iran's nuclear program said the agreement is likely to be approved this week if Western nations remove the embargo, which it has the potential to boost the pace of Iran's oil exports and adds an abundance of supply. So far the US crude oil futures fell -1.63% to $ 48.95 per barrel, after reaching the highest point at $ 49.62 intraday and daily lows at $ 48.71 per barrel. Other oils negative catalyst is a factor strengthening the US dollar soared to a 11-year high against various major currencies respond PBOC benchmark interest rate cuts that triggered the downfall of the yuan exchange rate and wounding a number of countries emergin currency, the US dollar boosted otherwise Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 3, 2015 Author Report Share Posted March 3, 2015 WTI oil weakens, dragged Brent Price Decline Tuesday, March 3rd, 2015 West Texas Intermediate oil futures traded lower on Monday to slip back to below $ 50 / barrel by close of trade, but the price difference is smaller with the European benchmark Brent oil line is also slumped. Traders take into account the increase in the monthly manufacturing activity and a surprising rate cut from China as well as a series of US economic reports and news of Libyan oil output increases in oil price movements on Monday. On the New York Mercantile Exchange, oil futures for April delivery fell 17 cents, or 0.3% to settle at $ 49.59 a barrel. Oil prices on Monday largely move above $ 50, but fell to half an hour of trade before the end because of losses in the Brent oil is so intensive. April Brent oil prices in London's ICE Futures exchange fell $ 3.04, or 4.9%, to settle at $ 59.54 a barrel. Strengthening the Brent oil price has exceeded the WTI in the last month, with Brent crude rose 18% compared to US oil rose 3.2%, pressured by inventory levels are at record highs. The price difference between the crude him on Friday widened to its greatest level since January 2014. Although both Brent and WTI are both ended lower on Monday, the difference was narrowed to just under $ 10. Tim Evans of Citi Futures said that the difference between Brent and WTI oil trading has made the WTI oil rose even though the tone is still weak in the international market. WTI oil on Monday touched its highest level at $51.04. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 4, 2015 Author Report Share Posted March 4, 2015 Oil Trying to Survive above $ 50 Level Wednesday, March 4th, 2015 Crude oil prices try to maintain overnight gains, was steady above $ 50 a barrel on Wednesday, didikung by geopolitical tensions in the Middle East and rising oil prices by Saudi Arabia. Investors await weekly US oil supply data later that night for a catalyst driving prices rose after data showed industrial group hikes lower than expected in commercial crude oil supply in the US last week. Saudi Arabia raised the official selling prices for the purpose of sending Asia and the United States on Tuesday, in the latest signal that OPEC's largest exporter see the signal strength of demand. US crude oil supplies increased last week, while gasoline supplies grew and distilled oil is reduced, according to data from industry group American Petroleum Institute on Tuesday. Libyan forces launched air strikes on oil and air base on Tuesday, increasing the struggle for control in the oil-producing countries a few days before the UN peace discussions will continue in Morocco. Israeli Prime Minister Benjamin Netanyahu warned the United States that it was mengegosiasikan bad agreement with Iran that could trigger a "nuclear holocaust," get a warning from President Barack Obama and the US-Israel rift shows deepened. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 5, 2015 Author Report Share Posted March 5, 2015 Oil Turned Weakens After the EIA report Thursday, March 5th, 2015 Oil previously gained now turned lower after the Energy Information Administration reported the surge in US oil inventories. Until last week, US oil inventories have risen in eight consecutive weeks. EIA reported oil inventories in the week ended February 27 rose 10.3 million barrels to 444.4 barrels too. Analysts surveyed by Platts had forecast a rise of 3.7 million barrels. The EIA report also far above the American Petroleum Institute report on Tuesday by 2.9 million barrels. Gasoline inventories are reported unchanged, while distillate fuel fell 1.7 million barrels. Oil inventories at Cushing Oklahoma, the delivery center WTI oil contracts, also reported increased 2.4 million barrels. The movement of crude oil is also under pressure from the strengthening of the dollar exchange rate. The dollar index against major currencies today rose 0.60% to 95.94 thousand. Activity data of US non-manufacturing sector rose in February, and break the expectations of a decline by economists support the strengthening of the dollar despite the employment data from ADP released lower than expected. WTI crude oil traded the range of $ 49.73 a barrel at 22:51 pm, away from daily highs $ 51.13, and potentially put an end to the strengthening of a three-day losing streak Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 6, 2015 Author Report Share Posted March 6, 2015 Oil worry Potential oversupply and Stronger Dollar Friday, March 6th, 2015 The positive sentiment from the European Central Bank's monetary stimulus fails to support the strengthening of WTI crude oil in the Asian session as concerns the market will be an oversupply and the potential rise in the US dollar makes crude oil prices approaching the lowest prices daily. Crude oil prices rose slightly, trying to stay above $ 50, is now in the range of $ 50.83 / barrel, with daily highs and lows $ 51.14 $ 50.79 daily. Investors pay attention to nuclear discussions between Iran and the US. Iran's Foreign Minister on Thursday declared a moratorium or 10-year termination on some aspects of its nuclear program may be acceptable, but declined to give further details. Signals long-term agreement between Iran and six major countries of the Middle East would make Iranian crude oil back to flood the market. On the other hand, US employment data that can positively confirm the US dollar against major currencies if they can be a reason to raise US interest rates in the coming months. High value of the US dollar will add to make crude oil denominated in US dollar becomes more expensive for investors holding other currencies. The data released by Baker Hughes rig also become the focus of attention in the crude oil markets Friday. Last week the number of active rigs in the US hit a below 1,000 for the first time since June 2011. The market marked decrease in the number of active rigs as the projected level of US crude production Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 9, 2015 Author Report Share Posted March 9, 2015 OPEC Reluctant Cut Production, Oil Weakens Monday, March 9th, 2015 OPEC insisted maintain its production to compete with the US shale oil and the strengthening of the US dollar into the load movement of WTI crude oil at the beginning of the week (3.9). Crude oil prices above the level of difficulty back to $ 50 / barrel, is now seen approaching daily lows, trading down 0.5% in the range of $ 49.35 / barrel. Secretary General of OPEC (Organization of the Petroleum Exporting Countries), Abdullah al-Bardi in the conference in Bahrain on Sunday (03/08), said oil shale "is not a challenge for us". Badri also asked other OPEC members to use the divestment strategy to maintain the pace of the economy dominated by the oil trade. OPEC produces 30.6 million barrels per day in February, an increase of 163,000 barrels per day of crude oil led the world's biggest exporter, Saudi Arabia. Factors excess supply is still not out of the oil trade since the price is down almost 60% compared to last summer. Reuters reported, the world's largest investment bank, Goldman Sachs, and even predict the price in the range of $ 40 / barrel for crude oil in the coming period. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 10, 2015 Author Report Share Posted March 10, 2015 Crude Oil Flat Ahead of Data API Tuesday, March 10th, 2015 WTI Crude Oil traded flat on Tuesday (10/03) await data from the American Petroleum Institute (API). Crude oil prices gained support from China's rising inflation, the country's second-largest consumer of crude oil world, which rose in February exceeded expectations. Although the producer price index has not signaled a recovery, crude oil trading market is quite optimistic respond inflation rate of 1.4% in February which is higher than the 0.9% increase forecast. The level of demand that is better than the predictions seem able to support the strengthening of crude oil in the middle of the dominance of the US dollar in the currency market. The high price of the US dollar will make diiperdagangkan crude oil in US dollars more expensive for investors holding other currencies. Investors await the API crude oil supply data released today before the official data from the US Department of Energy, Energy Information Administration (EIA) on Wednesday. According to a Reuters survey, US crude oil supplies will extend the record surplus of nine weeks. Crude oil trading is now in the range of $ 50.05 / barrel, with daily highs $ 50.36 and $ 49.92 daily lows Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 11, 2015 Author Report Share Posted March 11, 2015 Look forward to EIA data, Oil Moves In Narrow Range Wednesday, March 11th, 2015 After the American Petroleum Institute (API) reported a decline in US crude oil inventories on Tuesday local time, today's turn Informatioan Energy Administration (EIA) which will report oil inventories. Although analysts still expect an increase, but market participants expect a report from the same government agency to report the API. API reported crude oil inventories fell 404,000 barrels to 439.4 million barrels in the week to March 6. Analysts had forecast a rise of 4.4 million barrels. While the EIA on Tuesday lowered the average price of WTI crude oil be $ 52.15 per barrel from $ 55.02 per barrel for 2015, and for 2016 was lowered to $ 70 per barrel from the previous $ 71 per barrel. WTI crude oil moving in narrow ranges waiting for a report from the EIA 21:30 pm later, with daily highs $ 49.02; low $ 48.23, and traded the range of $ 48.76 per barrel Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 12, 2015 Author Report Share Posted March 12, 2015 Oil Record Closing Price Lowest Since February Thursday, March 12th, 2015 Although able to rebound from 5-week lows, crude oil still recorded the lowest closing price since February on Wednesday following the release of US inventory data that showed a new record high. Further appreciation of the US dollar also weighed on 'black gold'. Energy Information Administration (EIA) reported that US crude oil stocks rose 4.5 million barrels last week, which dampen expectations of a number of traders after industry agency data on Tuesday showed a slight decrease. The increase in all nine consecutive weeks have brought the US oil inventories approaching 490 million barrels. The increase of 2.3 million barrels, including the growth of the supply of crude oil at the delivery point Cushing, Oklahoma, as reported by the data provider Genscape market recently. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 13, 2015 Author Report Share Posted March 13, 2015 Inventory levels Limiting Strengthening Oil Friday, March 13th, 2015 WTI Crude oil rose throughout the Asian session, but volatile trading Thursday with investors digested news of interest rate cuts South Korea and the pressure of an increasing number of US oil supplies. The oil market is getting positive sentiment from the Bank of Korea's surprise decision to cut interest rates to a record low after several other central banks also choose to loosen its monetary policy to boost economic growth. Total US crude supplies rose 4.5 million barrels to 448.9 million barrels over the weekend based on data from the US government agency Energy Information Administration (EIA). Oil inventories also increased by 23 million barrels at the delivery point Cushing, Oklahoma. Now, the oil market will oversee the development of the US and Iran discussions over its nuclear program and monthly reports to the International Energy Agency this week's. Crude oil prices are now seen at $ 48.62 / barrel, with daily highs and lows $ 48.64 $ 48.00 daily. Quote Link to comment Share on other sites More sharing options...
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