Petroleum
Oil futures in New York experienced a brief rally Wednesday due to bullish inventory numbers from the American Petroleum Institute (API), but momentum was lost as the day progressed and pressure from the heating oil contract weighed on the market. The API's positive crude and gasoline figures were
Petroleum
Futures prices for petroleum crashed in New York on Friday, driven by financial funds liquidating gasoline positions and technical selling that dragged crude oil below $15/bbl. A substantial amount of trading volume on the New York Mercantile Exchange (Nymex) confirmed a resumption of a broader downtrend for petroleum futures,
Petroleum
Crude oil futures took a hit in February, largely due to speculation about an OPEC meeting to address production issues. Despite brief periods of bullish news, prices were ultimately weighed down by bearish sentiment. February saw crude futures fall by 80 cents per barrel, with the front-month contract closing at
Petroleum
The recent surge in crude oil trading on the spot market has led to a significant downward pressure on spot prices, fueled by a glut of Gulf Coast crude. As a result, March and April barrels of Light Louisiana Sweet (LLS) crude prices have fallen by 30 cents/bbl compared
Petroleum
U.S. oil markets remained steady on Wednesday, with buyers unphased by low inventories as prices for crude, gasoline, and heating oil moved modestly upward. The American Petroleum Institute's report of a 1.7 million barrel decrease in national inventories failed to spark significant price changes, with light,
Petroleum
Largely technical trading kept crude prices relatively stable, while gasoline prices gained ground due to active trading in gasoline crack and calendar spreads. The December crude contract on the New York Mercantile Exchange (Nymex) traded in a narrow 17-cent range, settling up 8 cents at $17.62/bbl. Meanwhile, gasoline
Petroleum
Hurricane Opal, a powerful storm in the Gulf of Mexico, threatens to disrupt oil and gas production, but its impact on prices has been largely discounted by the market. Despite reports of potential refinery closures and a significant reduction in crude production, gasoline and crude prices fell on the New
Petroleum
Hurricane Opal's unexpected shift in course from the Louisiana-Texas Gulf Coast to Florida led to significant fluctuations in the futures prices of natural gas, refined petroleum, and crude petroleum on October 3, 1995. As the storm's trajectory changed, fears of natural gas supply shortages caused short-term
Petroleum
Crude and product prices witnessed a bounce back on Wednesday as bullish inventory statistics, coupled with the downed U.S. refinery and the ongoing Brazilian strike, helped mitigate the losses. The June crude contract on the New York Mercantile Exchange (Nymex) settled up 14 cents at $19.75/bbl, while
Petroleum
Crude and product prices continued to rise in the US market as refineries faced issues in Brazil, the US, and Norway, leading to a shortfall in supply. The June crude contract on the New York Mercantile Exchange (Nymex) settled up 4 cents at $20.33/bbl, while gasoline prices found
Petroleum
Crude contracts on the New York Mercantile Exchange (Nymex) were weak on Tuesday due to the lack of fundamental news and the anticipation of crude stock builds in inventory reports. This was on top of many traders rolling their positions out of the April contract before its expiration. The April
Petroleum
Crude contracts on the New York Mercantile Exchange (Nymex) experienced a slight increase on Friday, with the April crude contract settling up 10 cents at $18.26/bbl. This came as traders moved their positions out of the soon-to-expire April contract and into the May and June contracts. Meanwhile, spot
