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Oil Trading Alert: Crude oil declines as strong dollar pressures prices
November 8, 2013, 10:25 AMOn Thursday, crude oil lost 0.63% after stronger-than-expected U.S. economic growth and a surprise interest rate cut by the European Central Bank pushed the dollar up. U.S. third-quarter growth data also boosted speculation the Federal Reserve could begin to taper its stimulus program sooner than expected.
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Oil Trading Alert: Crude oil gains as inventories rise less than expected
November 7, 2013, 7:29 AMOn Wednesday, after six consecutive lower closes, crude oil gained 1.31%. Light crude bounced off the monthly low after the EIA showed that crude oil stocks rose less than expected last week. It was the biggest gain since October 17 and the price came back to around $95 per barrel.
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Oil Trading Alert: Crude oil hits new monthly low as investors’ worries about increase in domestic supplies rise
November 6, 2013, 7:30 AMOn Tuesday, crude oil closed lower once again and lost 0.77%. Light crude extended losses as investors worried about a potential seventh straight weekly increase in domestic supplies amid weak demand and high crude production. In this way, the price of light crude hit a fresh monthly low of $93.07.
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Oil Trading Alert: Crude oil drops on worries about growth in demand
November 5, 2013, 10:20 AMOn Monday, crude oil closed lower for the fifth day in a row and lost 0.16%. Light crude extended losses as ongoing concerns over rising U.S. inventories and weaker demand in the world's largest oil consumer drove prices lower. In this way, the price dropped to a new four-month low of $94.06.
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Oil Trading Alert: Crude oil drops as positive U.S. manufacturing data raise Fed taper speculation
November 4, 2013, 9:55 AMOn Friday, crude oil closed lower for the fourth day in a row and lost 1.70%. Light crude extended losses after positive U.S. manufacturing data fueled the idea that the Federal Reserve will taper its stimulus program sooner than expected. In this way, the price dropped to a new four-month low of $94.36.
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