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The US Department of Energy plans to take advantage of the recent crude oil price decline and resume filling the Strategic Petroleum Reserve, it announced on Jan. 2. It said that it issued a solicitation to
today [Aug. 29]. Some support for crude has crept in from a marginally weaker dollar this morning, although the crude oil price is still struggling to regain the $112/bbl mark.” As far as the oil industry is concerned, Raymond James analysts
Spot prices of Brent crude oil averaged $107/bbl in July, marking the 13th consecutive month in which the average price has ranged $107-112/bbl.
Spot prices of Brent crude oil averaged $107/bbl in July, marking the 13th consecutive month in which the average price has ranged $107-112/bbl. Compared with the volatility seen as recently as 2 years ago when Brent spot prices ranged as high as $125/bbl in March 2012 to as low as $95/bbl in June
The front-month crude contract increased 0.3% July 15 in the New York futures market, accompanying gains in the equity market as “better-than-feared” Chinese growth data outweighed subpar US retail sales, said analysts in the Houston office of Raymond James & Associates Inc.
Crude oil prices continued declining Sept. 25 in a mixed New York market after Charles Plosser, president of the Philadelphia Federal Reserve Bank, said the system’s latest stimulus program is “unlikely” to contribute much to US employment or economic growth.
The price of crude oil climbed 2.1% in a strong rally Apr. 2. Natural gas also rose 1.2% in the New York futures market, but in the cash market gas hit a 10-year low.
The front-month crude oil contract regained a modest 0.5% while natural gas continued climbing, up 1.9% July 24 in the New York Mercantile Exchange as commodity traders generally ignored dismal economic indicators.
The front-month crude contract price dipped slightly Sept. 12 in the New York futures market, ending a seven-session rally. Natural gas continued climbing, however, with the front-month contract closing above $3/MMbtu.
The front-month crude oil contract declined Oct. 4 after a 3-day rally last week in the New York commodities market as it followed the equities market down; the natural gas futures price also dropped for the third consecutive session.