Oil Trading Alert: Crude oil drops as likelihood of imminent U.S. government shutdown remains uncertainOctober 1, 2013, 8:47 AM
On Monday, crude oil lost 0.48% and dropped to a new monthly low at $101.05 as the prospect of a U.S. government shutdown could crimp oil demand. However, light crude erased most of the losses late in the day and closed at $102.29 per barrel. In the previous month crude oil lost 5.08% as many of bull factors have been removed from the market. Crude oil supply has improved, with Libya ramping up output while tensions over Syria and Iran eased. It is the first monthly loss since May.
September 30, 2013, 10:01 AM
On Friday, the price of crude oil rose to $103.77 per barrel and reached above the August 22 low on an intraday basis. However, soft U.S. data led to profit taking by fueling concerns that U.S. recovery still faces potholes and may demand less fuel and energy going forward. Additionally, the price of oil fell as tensions eased between the United States and Iran after the Obama-Rouhani talks.
Oil Trading Alert: Crude Oil Increases As Investors Seek Bargains Following Sharp Losses Earlier This MonthSeptember 27, 2013, 6:36 AM
On Thursday, crude oil gained 0.71% and climbed to $103.29 (an intraday high) as investors sought bargains after sharp losses in the previous days. Despite easing political worries about Iran and an improving supply picture, light crude rose 58 cents (compared with the Wednesday‘s closing price). It is its first day of gains following five straight sessions of losses.
Oil Trading Alert: Further Deterioration As Hopes Increase For Progress In Dispute Over Iran's Nuclear ProgramSeptember 26, 2013, 8:07 AM
On Wednesday, crude oil lost over 1% and dropped to $102.20 as Iranian foreign minister revived hopes of progress in talks about Tehran's nuclear program, and as U.S. crude oil inventories posted a large build. This was light crude’s fifth straight session of losses and its longest daily losing streak since the beginning of August.
Oil Trading Alert: New monthly low as fears over a disruption to supplies from the Middle East continues to fade awaySeptember 25, 2013, 8:13 AM
On Tuesday, crude oil extended losses and dropped to a new month low at $102.30 per barrel as fears over a disruption to supplies from the Middle East continued to fade away. It’s worth noting that light crude has lost nearly 8% since September 14 when the U.S. and Russia reached a diplomatic solution on how to handle Syria’s chemical weapons.
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