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Crude oil prices continued falling for the fifth consecutive session, with the front-month contract down 1% May 8 in a mixed New York futures market amid suggestions Saudi Arabia may release more oil to help reduce prices.
Crude oil prices climbed for the third consecutive session July 21, with the new front-month September contract temporarily topping $100/bbl during intraday trading in the New York market.
The front-month crude contract posted a modest loss Feb. 14 in the New York market when an end-of-session rally failed to lift it out of the red. However, natural gas regained 4.4% on the prospect of greater utility turnarounds.
The front-month crude contract climbed 0.9% Nov. 3 in the New York market on a government report of a larger-than-expected drop in US oil inventories and the anticipated Federal Reserve Bank decision to pump more “quantitative easing” (QE) funds into the US economy, while the front-month natural ...
Crude oil prices continued to slip lower Oct. 12 with the front-month contract down 0.7% in the New York market amid expectations the Organization of Petroleum Exporting Countries will make no changes in its official production quotas at its Oct. 14 meeting in Vienna.
The stock market rallied Dec. 2, posting its highest weekly gain in 3 years as central banks moved to resolve liquidity issues in Europe, but petroleum prices increased only moderately.
Crude oil prices declined at a steeper rate July 31 with crude down 1.9% in the New York market amid traders’ concerns about results from the 2-day meeting of the Federal Open Market Committee, the policy-making arm of the Federal Reserve Bank, which concludes Aug. 1.
Crude oil prices continued falling Aug. 30 in the New York market as Hurricane Isaac weakened into a tropical storm and moved inland, apparently leaving coastal oil and gas infrastructure intact, but natural gas climbed higher despite a bearish inventory report.
Energy commodity prices were mixed July 6, with crude slipping lower in the New York market after the People's Republic of China announced another increase in the yuan benchmark interest rate as of July 7 ahead of the official June consumer price index (CPI) data release on July 15.
The front-month crude oil contract rebound Oct. 14, wiping out losses from the previous 2 days to challenge market resistance at $87/bbl in New York, while natural gas rallied 5% on the prospects of colder weather and short covering.