Market Journal
Distillate demand driving market
April 28, 2008
Growing demand for middle distillate fuels in Asia and Europe has created a world shortage that can only be resolved by processing more crude to produce these straight-run products.
|
Weak dollar buoys oil prices
April 21, 2008
Analysts cite weak dollar, other factors in crude oil price rise.
|
Energy prices climb
April 14, 2008
The front-month contract for benchmark US crudes jumped past $112/bbl Apr. 9 following a report that inventories of crude, gasoline, and distillate fuel fell to unexpectedly low levels in the week ended Apr. 4.
|
Quarter ends with bang
April 8, 2008
The fluctuation of crude futures prices on the New York Mercantile Exchange in March ended the first quarter of 2008 with a bang, said Paul Horsnell, Barclays Capital Inc., London.
|
Dollar value, crude prices fluctuate
March 31, 2008
The May benchmark US crude contract jumped above $107/bbl Mar. 27 in the New York market following the bombing of a primary export oil pipeline in southern Iraq.
|
Measuring 'extreme' oil prices
March 17, 2008
For seven sessions Mar. 5-13, the front-month crude contract consecutively set record high prices on the New York Mercantile Exchange as the US dollar fell.
|
Fundamentals don't support $105 oil
March 10, 2008
An unexpected drop in US oil inventories made the front-month price jump $5 to a record $104.52/bbl Mar. 5, although many of the industry's biggest participants and closest observers reported no new changes in either supply or demand to justify that fly-up.
|
Greenspan: Odds favor recession
February 18, 2008
At Cambridge Energy Research Associates' annual energy conference in Houston, former Federal Reserve Chairman Alan Greenspan said there is a "50% or better" chance that the US will experience an economic recession that will curtail energy demand.
|
Crude market lacks direction
February 12, 2008
Crude futures prices fluctuated sharply within a $5/bbl range in a directionless market in early February, with traders torn between fears of an economic recession and potential threats to oil supplies.
|
Mid-East demand up as OPEC holds output
February 4, 2008
As expected, OPEC ministers made no production changes at their Feb. 1 meeting in Vienna, despite pressure from the US and other large consuming countries to increase output.
|
Government action revitalizes markets
January 28, 2008
Fears of recession and unauthorized trading at an international French bank battered equity markets, forcing government action that caused US energy prices to rebound in late January.
|
Crude futures price closes at 5-week low
January 21, 2008
The February crude contract fell 71¢ to $90.13/bbl Jan. 17 on the New York Mercantile Exchange—its lowest closing in 5 weeks.
|
Oil finally tops $100/bbl
January 7, 2008
For the first time ever, a front-month crude contract hit $100/bbl Jan. 2 before closing at $99.62/bbl in the initial trading session of 2008 on the New York Mercantile Exchange.
|
A December run for $100/bbl oil
December 31, 2007
With many observers convinced they had seen the last major run up in oil prices for 2007, the market mounted another run at $100/bbl crude in late December.
|
Economic factors whiplash energy prices
December 17, 2007
The January crude contract for US light, sweet crudes on Dec. 12 closed in New York at $94.39/bbl, up $4.37 in the biggest 1-day gain since Jan. 30 and the highest closing since Nov. 27.
|
OPEC holds pat on production
December 10, 2007
As was generally expected, the Organization of Petroleum Exporting Countries agreed Dec. 5 not to raise crude production since commercial oil inventories remained at comfortable levels.
|
NYMEX suffers week of losses
December 3, 2007
During Nov. 26-30, the front-month contract for benchmark US light, sweet crudes sustained its largest weekly change and largest weekly decline ever.
|
Marching to $100/bbl oil
November 26, 2007
The push for $100/bbl oil may not be over.
|
Crude price waffles above $90/bbl
November 19, 2007
The crude futures price fell to its lowest level in nearly 2 weeks Nov. 13 after the International Energy Agency reduced its estimates of global oil demand for the fourth quarter through 2008.
|
High crude price divides market
November 12, 2007
With front-month benchmark US crude touching a record high of $98.62/bbl in overnight electronic trading Nov. 7, the oil market essentially split into two main groups.
|
