crude oil futures quotes

crude oil futures quotes

May 27th, 2016

The strong rally in oil prices that sent Brent and U.S. crude above $50 a barrel for awhile on Thursday faces technical barriers in the next three to five weeks.

Unexpected oil supply outages, along with technical buy signals, have helped lift Brent and U.S. crude prices nearly 90 percent above 12-year lows hit earlier this year.

Analysts believe the market has now factored in most supply cuts. Two technical analysts on Thursday said oil’s advance will be limited to a few more dollars at most. One was more bullish.

Brent futures (LCOc1) hit $50.51 on Thursday, after sinking to $27.10 on Jan. 20, which was the lowest since July 2003.

U.S. West Texas Intermediate (WTI) futures (CLc1) touched $50.21 on Thursday, up from $26.05 on Feb. 11, which was the lowest since May 2003. [O/R]

Both benchmarks retreated from session highs and settled below $50 a barrel.

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crude oil futures news

crude oil futures news

May 19th, 2016

Crude oil prices tumbled in North American trade on Thursday, adding to sharp overnight losses, as a surging U.S. dollar and an unexpected rise in U.S. crude inventories triggered selling.

The U.S. dollar surged to seven-week highs in early trade after the minutes of the Federal Reserve’s latest policy meeting rekindled expectations for a June interest rate hike.

Dollar-denominated oil futures contracts tend to fall when the dollar rises, as this makes oil more expensive for buyers in other currencies.

Crude oil for June delivery on the New York Mercantile Exchange sank $1.03, or 2.14%, to trade at $47.18 a barrel by 13:50GMT, or 9:50AM ET.

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Published January 19th, 2012

Natural gas futures plunged more than 6% to their lowest level in 10 years Thursday, after a government report showed another week of modest demand for the fuel.

The slide marks the eighth straight session of lower prices for the commodity, triggered by an unusually warm winter that has damped demand for gas-fired home and office heating. With much of winter already over and production still elevated, prices may still have further to fall, analysts said.

“It’s just a giant market capitulation,” said Ben Smith, president of First Enercast Financial, a market data service.

Natural gas futures for February delivery settled 15 cents, or 6.1%, lower at $2.322 a million British thermal units on the New York Mercantile Exchange. That is the lowest finish for natural gas since Feb. 25, 2002.

Thursday’s sell-off came on the heels of a Department of Energy report that said U.S. natural gas inventories fell just 87 billion cubic feet last week, a much smaller than usual decline for this time of year.

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November 28th, 2011

Gasoline futures surged as equities jumped after sales in the U.S. reached a Thanksgiving holiday record and the dollar declined on speculation European leaders will step up efforts to control the region’s debt crisis.

Gasoline futures rose 2.1 percent after the National Retail Federation reported yesterday that holiday sales gained 16 percent. The dollar sank against the euro, boosting the appeal of raw materials, after German Finance Minister Wolfgang Schaeuble urged fast-track treaty changes to tighten budget discipline.

“Equities are up and the dollar is weak, and we’re getting positive economic sentiment from the fact that sales are up,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut.

Gasoline futures for December delivery increased 5.16 cents to $2.5005 a gallon at 12:45 p.m. on the New York Mercantile Exchange. Futures rose after sliding Nov. 25 to the lowest level since February.

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