WTI Crude Remains Low After Surprising Inventory Report

May 15, 2013 3:24 pm
According to the U.S. oil reserves report released today, crude inventories decreased by 624 000 barrels last week to 394,9 following its record amount since 1931. Economists expected a 450 000 barrels gain. Phil Flynn,senior market analyst at the Price Futures Group in Chicago said: “We are still swimming in oil. We still have plenty […] Read more

Brent Oil Slips Below $102

May 15, 2013 1:20 pm
Brent oil tumbled below $102 a barrel on May 15 after latest data revealed worsening in all of Europes major economies, including France falling in recession. Germany dodged contraction of its economy as consumption increased, but its GDP growth was barely enough to compensate for Europes economy slowdown as a whole. This marked a record […] Read more

Copper at a 1-week low

May 15, 2013 12:12 pm
Copper reached a 1-week low after data showed the economies of its three biggest consumers – China, USA and Germany, are slowing down. JPMorgan Chase & Co. cut its growth estimate this year for China from 8% to 7,6%. Germany also showed negative signs with a worse than expected performance. The Federal Statistics Office said […] Read more

WTI crude near two-week low

May 15, 2013 9:21 am
WTI crude fell for a fifth day near a two-week low amid low demand and increased stockpiles. The Energy Information Administrations oil reserves report is scheduled for release in the morning. The industry-funded American Petroleum Institute said that U.S. crude inventories gained 1.1 million barrels last week and according to a Bloomberg survey stockpiles may […] Read more

Gold Falls Amid Worsening EU Situation

May 15, 2013 7:59 am
Gold retreated on a stronger dollar after worse-than-expected data from the Euro zone pressured the euro. Data showed yesterday that the German ZEW index rose well below expectations, while the index of current conditions fell. Gold slipped further today after reports showed that Frances economy will enter a recession following a second quarterly economic slowdown […] Read more

Dollar Rebounds, Gold Slips Again

May 14, 2013 3:10 pm
Gold fell during the afternoon european session today after the greenback gained strength following disappointing data from Germany. The ZEW index of German economic sentiment rose to 36,4, up from 36,3 in April, but way below expectations of of 38,3. The index of current conditions fell to 8,9 from 9,2 in April, which is a […] Read more

Copper Falls Amid Chinese Industry Slowdown

May 14, 2013 2:02 pm
Copper slid the most in two weeks following signs of slowing in Chinas growth – the worlds biggest consumer of the metal. The Asian nation is responsible for around 40% of the copper consumption worldwide and for a long time has been one of the main factors, which influence the metals price. According to JPMorgan […] Read more

WTI Crude Trades At a One-Week Low

May 14, 2013 1:01 pm
West Texas Intermediate dropped to a one-week low today, because of forecasts that U.S. supplies climbed to the highest since 1931. The IEA announced that the U.S. oil production will be higher than the volume, demanded by the dynamically developing countries. Michael Poulsen, an analyst at Global Risk Management in Middelfart, Denmark explains: “Supply-demand is […] Read more

Increased U.S. Oil Supply to Meet Higher Worldwide Demand

May 14, 2013 9:23 am
OPEC will barely have to raise oil output in the next five years as U.S. shale oil is planned to meet most of the new worldwide demand, even if the global economy picks up the pace, the Wests energy agency said on Tuesday. According to the International Energy Agency, which analyses global oil supply and […] Read more