
News Topics: Commodity Prices
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Crude Exits December Contract at Trading Range Lows
Friday, November 20, 2009 - Under pressure from a strengthening dollar and slide in equities, crude futures exited the December contract at $76.72 a barrel.
Market Report: Dollar Has Major Impact on Global Asset Prices
Thursday, November 19, 2009 - Are you worried that the dollar is falling because of our ballooning deficit or the fact that this country is printing money like there is no tomorrow? Well if the Fed is not worried maybe you shouldn't be either, says analyst Phil Flynn.
Crude Retreats to $77 on Wall Street Woes, Firmer Greenback
Thursday, November 19, 2009 - Wall Street succumbed to broader financial worries Thursday, spurring a dragdown in equities which sent crude spiraling toward the lower end of its trading range near $77 a barrel.
Market Report: Offline Gulf Production Impacts API Report
Wednesday, November 18, 2009 - Tropical Storm Ida may have had more of an impact on the weekly American Petroleum Institute report than she will in the big energy picture.
Crude Holds Fast Above $79, Natural Gas Hits Contract Low
Wednesday, November 18, 2009 - Under pressure during earlier trading, oil ultimately defied bearish underlying fundamentals to close higher after news of a slight decline in crude inventories and a drop in the greenback's value helped boost prices.
Defying Stronger Dollar, Crude Remains Above $79
Tuesday, November 17, 2009 - Defying a stronger dollar and other bearish underlying fundamentals that usually put pressure on the commodity market, crude futures remained above $79 a barrel Tuesday.
Market Report: Federal Reserve Inflates Value of Commodities
Tuesday, November 17, 2009 - Despite the fact that Fed Chairman Ben Bernanke said that the Fed had their eye on the dollar and that they would support the dollar if necessary, the message the market got was low rates for the foreseeable future.
Market Report: Oil Rebounds, China Warns of Carry Trade Bubble
Monday, November 16, 2009 - Oil prices rebound as the G-20 pledges to keep money rolling off the global printing presses and China warns of a carry trade bubble.
Crude Futures Rally on Surge in Equities, Dollar's Fall
Monday, November 16, 2009 - Running up more than $2 today, oil closed at the higher end of its current trading range just under $79 a barrel, spurred by a surge in the equities market, as well as a weakened greenback.
OPEC's Weekly Oil Prices Decline with Fluctuation
Monday, November 16, 2009 - The weekly average prices of OPEC kept dropping with fluctuation last week, falling by 0.10 U.S. dollars compared with the previous week.
Oil Takes Another Hit Below $76 on Lackluster Demand
Friday, November 13, 2009 - The price of oil was struck down to its lowest level in a month as fears that the economic recovery could be stunted took hold of the market Friday.
Market Report: Dollar Could Be Poised for More Short Covering
Friday, November 13, 2009 - Weekly jobless claims fell 12,000 to 502,000 giving the dollar a boost and the crude market a trouncing even before the bearish Energy Information Agency weekly inventory report.
Time Is Right for More Market-based NG Prices In China - Economists
Thursday, November 12, 2009 - It is the favorable time to introduce pricing reform in China's natural resources industries, said Chinese economists in Beijing, noting that the macro-economy has bottomed out the effect of the global financial crisis.
Oil Slips Past $77, Energy Consumption Decreases
Thursday, November 12, 2009 - Oil prices settled at $76.94 on the NYMEX after reports announced energy consumption has dwindled. Moreover, natural gas gained momentum, making the fossil fuel burn bright on the commodity market.
Market Report: Oil's Tug of War Between Bulls and Bears
Wednesday, November 11, 2009 - "It's not love that oil is running from but it may be commitment. Oil just cannot commit to whether it is bullish or bearish," muses analyst Phil Flynn.
Oil Bounces Back Above $79, Natural Gas Futures Get Boost
Wednesday, November 11, 2009 - Oil prices rebounded above $79 during choppy trading today on strong economic news from China, the world's second largest consumer. Additionally, natural gas futures recovered slightly from yesterday's steep sell-off.
Commodity Futures Subside with Gulf Winds, Market Awaits EIA Data
Tuesday, November 10, 2009 - Oil pared a $2-loss from Tuesday morning's lows to settle back near $79 a barrel in spite of a stronger U.S. dollar.
OPEC's Weekly Oil Prices Fluctuate Wildly
Tuesday, November 10, 2009 - The weekly average prices of the Organization of Petroleum Exporting Countries (OPEC) showed a high frequency of price changes last week.
Market Report: Oil Rallies on Stimulus Hopes and Weather
Monday, November 09, 2009 - Analyst Phil Flynn believes that if the market sees additional weak data this week, more quantitative easing could usher in a bearish dollar and bullish commodities.
Oil and Natural Gas Prices Buoyed by Gulf Storm, Battered Dollar
Monday, November 09, 2009 - Oil crested more than $79 a barrel as news of Gulf production shut-ins and a weaker greenback helped support a rally in energy prices.
U.S. Jobs Data Sobers Market, Oil Slips to One-Week Low
Friday, November 06, 2009 - Heading into the weekend on a sobering note, oil prices were knocked down to the lower end of their current trading range near $77 as U.S. jobs data left the market dazed and confused over the state of the economic recovery.
Crude Closes Below $80, Natural Gas Up on Commercial Buying
Thursday, November 05, 2009 - Oil futures traded slightly lower Thursday, dipping below $80 a barrel as doubts surfaced concerning an elusive pickup in oil demand while the economy is on the mend.
Market Report: Fed Sets the Course for Commodity Fortunes
Thursday, November 05, 2009 - The Fed is not worried about inflation as resource slack they think will save them yet the movement of the markets are eerily similar to the set up we had last year before the markets crashed.
Oil Rises Above $80 Mark, Dollar Continues Down Slippery Slope
Wednesday, November 04, 2009 - Settling above the $80 mark today, the price of crude oil has reached a level that makes many question just how stable the US economy is and whether the dollar is still to blame.
Market Report: U.S. Dollar Gets 'Golden Slap in the Face'
Wednesday, November 04, 2009 - What does India's huge central bank gold purchase say about the state of the oil market? Phil Flynn analyzes recent market events that are affecting near term oil prices.
Market Report: Macroeconomic Forces Take Control of Oil Prices
Tuesday, November 03, 2009 - Despite strong economic data released yesterday, oil seemed to rally somewhat reluctantly as it is being controlled by larger macroeconomic forces, and not just demand and demand expectations, analyst Phil Flynn writes.
Oil Price Rallies Alongside Gold, Natural Gas Edges Higher
Tuesday, November 03, 2009 - Defying the dollar's strength and weaker equities, two underlying factors that would usually spur investors away from purchasing the energy commodity, the price per barrel of crude oil rallied above $79. Also up, natural gas settled just under $5.
Market Report: Risky Asset Prices Rise Too High, Too Fast
Monday, November 02, 2009 - Last week the petroleum complex swung wildly back and forth in the same old range and is rallying again but could the larger macroeconomic forces at some point get us out of this range?
November Ushers in Choppy Oil, Natural Gas Prices
Monday, November 02, 2009 - Entering a new month of trading, oil climbed to more than $78 as impressive manufacturing data from the world's top consumer helped push the commodity's price slightly higher than Friday's close. Conversely, natural gas tumbled to less than $5.
Market Report: GDP Glee and Nothing to Fear
Friday, October 30, 2009 - As the GDP hit the high end of the market's expectations, oil regained $80 a barrel on a wave of economic optimism and short covering.
No Treat for Oil, Natural Gas Markets as Prices Pale on Econ Fears
Friday, October 30, 2009 - Wall Street's fears resurfaced Friday as investors were spooked by news of waning consumer confidence and sought the safe haven of the mighty greenback over commodity markets.
Oil Price Rallies on GDP Growth, Nat. Gas' New Contract Above $5
Thursday, October 29, 2009 - Gaining on positive economic news, Wall Street rallied today helping to spur a recovery in the crude price to just under $80 a barrel. Additionally, the December contract for natural gas showed prices floating near the $5-point mark.
Market Report: Coming Off the Benchmark
Thursday, October 29, 2009 - Analyst Phil Flynn reviews yesterday's news of bearish underlying fundamentals, which have pushed crude prices down, and sees the market asking itself whether the NYMEX West Texas Intermediate is a contract the world can believe in.
Market Report: Oil Market 'Lacking Conviction'
Wednesday, October 28, 2009 - According to analyst Phil Flynn, a slight rebound in the dollar and a rebounding stock market have the oil market lacking conviction.
Oil Futures Dealt a Blow from Surprise Gasoline Build
Wednesday, October 28, 2009 - Oil prices took a hit today, settling below $78 as government data showed a surprise build in gasoline inventories, the greenback's value rose and Wall Street suffered a drop in the Dow Jones Industrials Average, Nasdaq and S&P Indexes.
Oil Closes Near $80 'Comfort Zone', Nat. Gas Market Could Heat Up
Tuesday, October 27, 2009 - Investors stuck to their guns during a choppy trading session Tuesday, as oil closed near $80 despite the greenback's recovery and news that U.S. consumer confidence waned in October.
Market Report: Oil Tagged at $75 Could Signal Dollar on the Mend
Tuesday, October 27, 2009 - Not even reports of China oil demand rising 12.5% in September from a year earlier, the fastest rate since June 2006, could keep oil moving higher in the face of a rebounding dollar.
Oil Futures Dip Below $79 as Dollar Strengthens
Monday, October 26, 2009 - Down more than 2% on a strengthening of the US dollar, oil futures tumbled below $79 Monday, while natural gas prices remained above $4.50 per thousand cubic feet.
Market Report: Is $80 A Barrel Just Too High?
Monday, October 26, 2009 - Oil prices are settling back again as more and more market participants wonder if $80.00 a barrel is sustainable.
Oil Prices Stay Bullish at $80, Natural Gas Slips Further
Friday, October 23, 2009 - A stronger dollar helped push oil prices lower, settling the price of crude oil at $80.50 a barrel at the close of the week.
Market Report: Once Mighty Greenback Loses Ground, Respect
Friday, October 23, 2009 - "When did the US dollar become the Rodney Dangerfield of global currencies?...The dollar is now a punch line as commodities continue to find comfort at higher ranges," muses analyst Phil Flynn in his latest 'Market Report.'
Market Report: Oil Prices Sent on Another Bullish Adventure
Thursday, October 22, 2009 - Low refinery runs and a weakened dollar send oil on another bullish adventure as commodity price inflation starts to show its adverse economic effects.
Oil Price Hovers Above $81, Natural Gas Hits Below $5
Thursday, October 22, 2009 - Unable to rally above yesterday's gains, the price per barrel of crude oil retreated slightly Thursday, but still kept above $81, its strongest level of the year.
Market Report: Is $80 a Price or Just a Destination?
Wednesday, October 21, 2009 - Analyst Phil Flynn asks whether $80-per-barrel oil is the magic number that will break the back of the fermenting economic recovery.
Dollar-Driven Rally Pushes Oil Prices Back Above $81
Wednesday, October 21, 2009 - The greenback's value was struck down once more against a basket of foreign currencies Wednesday, and has jump started another dollar-driven rally that is lifting the energy commodity's prices toward record-breaking highs for 2009.
Crude Futures Retreat from High of $80, Natural Gas Soars Above $5
Tuesday, October 20, 2009 - After rallying for eight consecutive days, crude futures retreated Tuesday despite flirting with $80 during earlier trading. On the other hand, the price of natural gas soared to more than $5 at the close of today's session.
Market Report: Threat of 'Reverse Repos' Move Markets
Tuesday, October 20, 2009 - Analyst Phil Flynn muses on whether Ben Bernanke is a 'repo man' as 'the threat of reverse repos have moved the markets with a momentary jolt.'
OPEC's Drilling Projects Moving Amid Price Rise
Tuesday, October 20, 2009 - Several longer-term OPEC drilling projects that had been put on hold during the low point of the recession are now moving forward, in a sign that rising oil prices and recovering demand are breathing life back into drilling investment.
Oil Futures Crest $79, Could Ride Past $85 by Year's End
Monday, October 19, 2009 - Edging above $79 and continuing to top its highest point for the year, the price per barrel of crude oil ultimately surpassed last week's record gains during a choppy session of trading Monday.
Chevron's CEO Warns of Possible Oil Shortage in Next Decade
Monday, October 19, 2009 - Chevron's Chairman and Chief Executive David O'Reilly on Sunday warned of a potential oil supply shortfall midway through the next decade that could potentially trigger a substantial increase in prices.
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