Crude climbs up on supply decline

Prices gain 2.5% on a weekly basis Crude Oil futures finished higher at Nymex on Friday, 04 January 2013. Prices rose finding support from a hefty drop in last week's U.S. crude supplies, but also pressured by a stronger dollar, as traders weighed concern over a potential end to the Federal Reserve's monetary stimulus this year. Light and sweet crude-oil futures for delivery in February tacked on 17 cents, or 0.2%, to settle at $93.09 a barrel on the New York Mercantile Exchange. Prices, which traded between $91.52 and $93.15, climbed 2.5% for the holiday-shortened week.

Crude ends higher for first time in six sessions

Prices remain choppy and weak throughout the day Crude oil prices ended higher for first time in six sessions on Tuesday, 11 December 2012 at Nymex. Prices remained weak and choppy throughout the day but moved higher at the end. A weak dollar helped put a brake on the drop in prices during intra day trading. On Tuesday, light and sweet crude oil futures for light sweet crude for January delivery closed higher by $0.23 (0.3%) at $85.79/barrel. Prices had shed almost 4% in previous five trading sessions.

Crude pares earlier losses and moves up

Crude ends flat for the week Crude oil futures settled higher on Friday, 07 September 2012 at Nymex shaking off earlier weakness as disappointment over the U.S. nonfarm payroll numbers gave way to hope the negative report would usher in faster stimulus measures. The low dollar also aided in prices moving up. Light and sweet crude for October delivery rose 89 cents, or 0.9%, to end at $96.42 a barrel on Friday. On the week, however, oil was closer to flat, down less than 0.1%. Latest data from the Labor Department at Wall Street showed that U.S. nonfarm payrolls rose by 96,000 in August, 2012. This came in well below market estimates around 125,000 and compared to July's revised growth of 141,000 jobs. The unemployment rate fell to 8.1%, down from 8.3% in July, as more people checked out of the workforce. The dollar index, whch weighs the strength of the dollar against a basket of six other currencies, fell by almost 0.8% on Friday. The dollar fell in the wake of Draghi's monthly news conference Thursday. Among other energy products on Friday, October gasoline rose 3 cents, or 1%, to $3.02 a gallon, while October heating oil added 1 cent, or 0.2% to $3.15 a gallon. Gasoline gained 1.6% on the week, its sixth consecutive week of gains. Heating oil declined 1% this week, snapping a five-week winning streak. Natural gas also for October delivery declined 9 cents, or 3.4%, to $2.68 per million British thermal units. Prices declined 4.2% on the week, with the product down for six out of the past seven weeks.

Crude takes a big jump following positive economic data

Prices settle at the highest level in two weeks Crude oil got a major boost on Friday, 03 August 2012 at Nymex gaining nearly 5% after the better than expected employment data, positive performance in Europe while also benefitting from the dollar's decline. Crude-oil futures rallied nearly 5% Friday, spurred by optimism following a positive U.S. jobs report and as Wall Street traded sharply higher and the dollar lost some ground. Light and sweet crude for September delivery rose $4.27, or 4.9%, to settle at $91.40 a barrel on the New York Mercantile Exchange on Friday. The settlement was the highest in two weeks.

Crude gains following comments from European leaders

Prices register weekly losses though Crude oil futures extended gains on Friday, 27 July 2012 at Nymex spurred by optimism about the euro zone as two heads of state pledged to save the single currency. Light and sweet crude for September delivery rose 74 cents, or 0.8%, to settle at $90.13 a barrel on the New York Mercantile Exchange. Prices earlier seesawed between small gains and losses as investors were disappointed with data on the U.S. economy. On the week, however, oil lost 1.3%.

Crude moves up

Positive economic data and ECB's comments fuel prices higher Crude prices ended higher on Thursday, 26 July 2012 at Nymex. Prices rose as the European Central Bank signaled its intention to preserve the euro. Earlier this morning, President Mario Draghi made supportive comments, which resulted in a spike in the euro, commodities and equity markets around the world. Draghi's comments came as the market is also anticipating further stimulus in the U.S. and China. Better than expected economic data at Wall Street also pushed up prices. Light and sweet crude for September delivery rose $0.42 (0.5%) to $8.39 a barrel on the New York Mercantile Exchange on Thursday.

Crude ends lower for second straight day

Strong dollar and weak labor market report pressure prices Crude prices ended lower for second straight day on Friday, 06 July 2012 at Nymex. Prices ended lower pressured by a stronger dollar and as the U.S employment report fell short of expectations and pointed to a slowdown in the labor market. With Friday's loss, oil ended lower for eighth week out of last ten weeks. Light and sweet crude for August delivery fell $2.77 (3.2%) to $84.45 a barrel on the New York Mercantile Exchange on Friday. Oil lost 0.6% for the week. For June, however, prices declined 1.8%, and the quarterly picture was yet darker. March-to-June losses reached 18%.

Crude soars more than 9% on a single session on Friday

Prices end 18% lower on a quarterly basis Crude prices ended substantially higher on Friday, 29 June 2012 at Nymex. Prices took a big leap and witnessed the largest one day gains in terms of percentage since March 2009. Prices rose as the dollar dropped substantially and the latest euro-zone rescue deal boosted a broad range of commodity and financial markets. Light and sweet crude for August delivery rose $7.27 (9.4%) to $84.96 a barrel on the New York Mercantile Exchange on Friday. Oil gained 6.5% on the week. On the month, however, prices declined 1.8%, and the quarterly picture was yet darker. March-to-June losses reached 18%.

Crude ends higher but stays below $80/barrel

Prices register weekly losses of more than 5% Crude prices at Nymex ended higher on Friday, 22 June 2012. Prices rose due to a low dollar. Prices also rose as traders mulled over the fact that recent losses in crude price were overdone and that prices will head up from here. Oil briefly touched its lowest in 18 months, before bouncing back, and European stocks fell. Light and sweet crude oil for August delivery rose $1.56, or 2%, to end at $79.76 a barrel on the New York Mercantile Exchange. Prices stayed below $80 for most of the session, capping a week that set prices back 5.4%.

Crude climbs on expectations for global stimulus

Prices settle almost unchanged for the week Crude-oil futures at Nymex rose on Friday, 15 June 2012 lifted by expectations for global stimulus, which could boost prospects for oil demand. But prices still ended the week nearly unchanged, with gloomy U.S. economic data capping strength as traders awaited the outcome of this week's Greek elections. Light and sweet crude for July delivery tacked on 12 cents, or 0.1%, to settle at $84.03 a barrel on the New York Mercantile Exchange on Friday. A week ago, it settled at $84.10.

Crude Oil

 Crude Oil 

Crude slips due to worries about global oil demand

Prices register weekly gains for the first time in six weeks Crude oil prices at Nymex finished lower for the day on Friday, 08 June 2012, but gained on the week as traders worried about global oil demand and supplies ahead of a spate of Chinese economic data during the weekend and an OPEC meeting next week. Prices registered weekly gains for the first time in six weeks. Light, sweet crude-oil futures for July delivery shed 72 cents, or 0.9%, to settle at $84.10 a barrel on the New York Mercantile Exchange on Friday. For the week, prices finished 1% higher. Prices also fell due to a stronger dollar. The dollar index, which weighs the strength of the dollar against a basket of six other currencies rose by 0.3%.

Crude ends mildly lower

Credit rating downgrade on Spain renewed concerns over oil demand Crude prices ended mildly lower on Tuesday, 29 May 2012 at Nymex. Prices dropped for first time in three sessions as credit rating downgrade on Spain renewed concerns over oil demand from the euro zone and buoyed the U.S. dollar. Weaker than expected consumer confidence data at Wall Street also affected prices. Light and sweet crude for July delivery fell $0.10 (0.1%) to $90.76 a barrel on the New York Mercantile Exchange on Tuesday. In the currency market on Tuesday, the U.S. dollar index, which weighs the strength of the dollar against a basket of six currencies rose by 0.4%. The market place was tentative early Tuesday, following a long U.S. holiday weekend, and got more uneasy on the Eagan Jones credit downgrade for Spain. The Euro currency fell to a fresh nearly two-year low on the ratings downgrade news. The latest European Union debt and financial crisis developments also saw the large Spanish bank, Bankia, given significant bailout money over the weekend.

Crude ends losing streak

Prices end higher for first time in seven sessions as dollar edges lower Crude prices ended modestly higher on Monday, 21 May 2012 at Nymex. Prices managed to end their long losing streak after the dollar edged lower. Prices rose in tandem with US equities ahead of key meetings this week about Iran's nuclear program. Light and sweet crude for June delivery rose $1.09 (1.2%) to $92.57 a barrel on the New York Mercantile Exchange on Monday. Prices ended higher for first time in seven sessions. In the currency market on Monday, the U.S. dollar index, which weighs the strength of the dollar against a basket of six currencies fell by 0.14%.

Crude prices slip following Chinese data

Prices end 2.4% lower for the week Crude-oil futures at Nymex declined on Friday, 11 May 2012 as weak data out of China and ongoing demand concerns combined to pull prices to their lowest settlement of the year. Recent strength in the U.S. dollar also dragged prices lower. Earlier, prices found some support from a bigger-than-expected increase in U.S. consumer sentiment. Light and sweet crude for June delivery fell 95 cents, or 1%, to settle at $96.13 a barrel in the New York Mercantile Exchange. For the week, futures prices finished 2.4% lower. In the currency market on Friday, the Dollar Index, which weighs the strength of dollar against basket of six other currencies rose by almost 0.2%.

Crude prices register huge drop

Prices settle at its lowest levels in almost three months following disappointing job data Crude prices ended substantially lower on Friday, 04 May 2012 at Nymex. Prices dropped following a disappointing job report from the Labor Department. A strong dollar also pushed down prices and the same settled at its lowest levels in almost three months. Light and sweet crude for June delivery fell $4.05 (4%) to $98.49 a barrel on the New York Mercantile Exchange on Friday. For the week, crude lost 6.1%. In the currency market on Friday, the Dollar Index, which weighs the strength of dollar against basket of six other currencies rose by almost 0.3%. The dollar was weaker earlier during the day.

Crude gains for first time in three days

Prices register minor weekly gains Crude futures ended higher on Friday, 20 April 2012 at Nymex breaking a two-day losing streak and notching modest weekly gains as the dollar fell on an upbeat German economic survey and U.S. corporate news spurred hopes for more oil demand. Lighty and sweet crude for delivery in May rose 78 cents, or 0.8%, to $103.05 a barrel on the New York Mercantile Exchange. The contract expired at the end of floor trading Friday. On the week, prices climbed 0.2%.

Crude slips on Chinese growth concerns

Prices end 0.5% lower for the week

Crude futures at Nymex declined on Friday, 13 April 2012. Prices fell in tandem with US stocks after data showing a slowdown in China prompted concerns about oil demand.

Light and sweet crude futures for delivery in May ended down 81 cents, or 0.8%, at $102.83 a barrel on the New York Mercantile Exchange. The contract trimmed some of its losses as the floor session progressed, but ended the week off 0.5%.

U.S. stocks opened lower and oil futures retreated on Friday. European stock also traded lower, led by losses for Spanish stocks after data showed bank borrowing in the country from the European Central Bank soared in March.

Crude slips to seven week low

Prices drop in tandem with equities following disappointing job data

Crude prices dropped and ended at seven week low on Monday, 09 April 2012 at Nymex. Prices fell following disappointing job report that hit the wires at Wall Street on last Friday, 05 April. Crude prices fell in tandem with US stocks on Monday. As U.S. stocks and commodity markets were closed on last Friday, in observance of Good Friday, Monday was the first opportunity for investors to react to the disappointing employment data.

Crude ends lower

Prices slip due to demand concerns arising from Fed's latest FOMC minutes

Crude prices ended lower on Tuesday, 03 April 2012 at Nymex. Prices fell following the latest FOMC minutes which hinted that more monetary or quantitative easing is unlikely thereby curbing the hopes of higher oil demand in coming months. The same pushed dollar higher and that too affected prices.

Light and sweet crude for May delivery fell $1.22 (1.2%) to $104.01 a barrel on the New York Mercantile Exchange on Tuesday.