Posted on 01 September 2010
U.S. crude oil refinery inputs averaged 14.8 million barrels per day during the week ending August 27, 68 thousand barrels per day below the previous week’s average. Refineries operated at 87.0 percent of their operable capacity last week. Gasoline production decreased last week, averaging 9.3 million barrels per day. Distillate fuel production decreased last week, [...] Continue Reading...
An increase in US crude oil inventories did not stop prices from increasing dramatically yesterday. Typically speaking, larger inventories mean that there is decreased demand in the US which causes prices to drop. This was not the case yesterday, as the weakened dollar helped boost commodity prices, including oil. Crude prices jumped over $2, and [...]
Crude oil reversed a large part of Tuesday’s losses on Wednesday, but the commodity remains notably below the recent $75.58 high registered on Monday. One would have expected more from crude oil given the enormous 3% rally in U.S. equity markets, but yet another bearish inventory report kept a lid on prices. U.S. oil inventories [...]
Japan’s Nikkei 225 stock average added 80 points, or 0.9 percent, to 8,904 after hitting a 16-month closing low the previous day. I am still long Nikkei Futures expecting a continuation of the rally. My first target is 9100. Yesterday`s action was a little disappointing. I was antecipating a rally that didn`t materialize, but today`s [...]
Crude Oil (WTI) – $72.28 // $0.36 // 0.50% Commentary: Crude oil got slammed on Tuesday, losing $2.78, or 3.72%. In addition to the persistent economic worries that have been plaguing risk assets in general, crude oil was also pressured by the prospect of another bearish inventory report on Wednesday. As readers are aware, U.S. [...]
Crude oil dropped for the second consecutive day today. Crude oil fell about 250 pips during yesterday’s trading session. A barrel of oil was traded for around $74.15 during yesterday morning, and dropped to a daily low of $71.52 a barrel. Crude oil prices fell yesterday as investors are concerned that oil demand in the [...]
