Month: November 2011

Crude oil prices continue put up new highs as we switch our focus to the January contract. Another new high at at 99.57 was posted at the Asian opening last night.

Crude oil prices continue the relentless trek upward. The drop in new unemployment claims below 400k, a slightly shrinking US trade deficit and Chinese data showing crude oil imports rising in October…

Crude oil suffered early losses on the continuing crisis in Europe, but pared those losses later after stockpile reports showed tightening.

Crude oil continues to focus on macro events swirling around the European debt conundrum.

Crude oil is on the rise again, now for the fifth consecutive session. Apparently, buyers are taking solace from hopes new leadership in Greece and Italy would be able to deal with the debt crisis.

The market is continuing with macro-influenced volatility again today, as events in Europe continue to shift. Crude oil prices finished on Friday with another high settlement since low, earlier last month.

Shaking off a mostly bearish stockpile report, crude oil responded positively yesterday to an apparent postponement of the Greek referendum, an ECB rate cut and a report that first-time filings for jobless benefits in the US had fallen below 400k for the first time in five weeks.… Read more

Oil specificity briefly held sway over the macro yesterday after a bearish stockpile report. Prices seesawed following the data, initially paring their earlier gains, but later surpassing them.

Macro influences buffeted crude oil yesterday as equities and currencies went on a wild ride, responding to events surrounding Europe’s ongoing debt crisis. The crux is Greece, in calling for a referendum and a confidence vote in parliament.