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June 21st, 2012
Nymex crude-oil futures settled below $80 a barrel Thursday for the first time since October–and Brent crude futures closed below $90 a barrel for the first time since December 2010–as the oil markets were hit by a host of factors, including fresh signs of anemic industrial activity.
Oil futures for light sweet crude on the New York Mercantile Exchange settled at $78.20 per barrel, down $3.25 or 4%, piercing the psychologically important $80-a-barrel level. Brent oil futures, the European benchmark, also declined sharply, dropping $3.46, or 3.7%, to $89.23 a barrel.
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June 23rd 2012
Nymex Exchange – Morgan Stanley will pay a $50,000 fine to the New York Mercantile Exchange, which alleged that the bank overstated open interest in oil futures markets last November, NYMEX parent company CME said in a statement on Friday.
Morgan Stanley, which operates a large commodity trading operation, was found to have overstated open interest in the December, 2001 U.S. crude future contract during trading on November 17, 2011, allegedly violating reporting rules to the exchange, CME said.
The fine was part of a settlement agreement in which the bank admitted no wrongdoing, CME said. Morgan Stanley spokeswoman Mary Claire Delaney declined comment.
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June 14th, 2012
Nymex crude-oil futures settled higher Tuesday after three straight losing sessions, boosted by broader markets despite signs of high supplies in the global oil market.
Light, sweet crude-oil for July delivery settled 62 cents higher at $83.32 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange for July delivery traded 86 cents lower at $97.14 a barrel.
Rising stock markets along with gains in the euro against the dollar and a reversal in the bond market helped buoy U.S. crude-oil futures, which have suffered along with other riskier assets amid Europe’s debt crisis.
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