crude oil quotes

crude oil quotes

October 14th, 2014

Crude oil futures West Texas Intermediate extended its rout from the lowest price in 22 months after the International Energy Agency said oil demand will expand this year at the slowest pace since 2009. Brent slid to a four-year low in London.

Futures dropped as much as 1.5 percent in New York, the fifth decline in six days. Oil consumption will increase by about 650,000 barrels a day this year, 250,000 below the previous estimate, the Paris-based agency said in its monthly market report. U.S. crude stockpiles probably expanded by 2.5 million barrels to a two-month high last week, according to a Bloomberg News survey before a report from the Energy Information Administration on Oct. 16.

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crude oil brokers

crude oil brokers

September 10th, 2014

U.S. crude production will surge to a 45-year high next year, lowering prices and reducing the need for imports, government forecasters said yesterday.

The U.S. Energy Information Administration raised its estimate of 2015 output by 250,000 barrels a day to 9.53 million, the most since 1970, Adam Sieminski, the administrator of the EIA, said in a statement yesterday. The agency forecast output of 8.53 million barrels a day this year, up from 7.45 million in 2013.

“U.S. production levels are astounding,” Bill O’Grady, chief market strategist at Confluence Investment Management in St. Louis, which oversees $2.6 billion, said by phone yesterday. ‘We will see further revisions, because these technologies get better over time.’’

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Crude Oil Futures Trade Near Week-Low

On July 28, 2014, in Crude Oil Futures News Report, by Infinity Trading
brent oil futures

brent oil futures

July 28th, 2014

West Texas Intermediate crude dropped for the fourth time in five days as economic data may signal slowing growth in the U.S., the world’s biggest oil consumer. Brent declined in London.

Crude oil futures fell as much as 0.8 percent to $101.27 a barrel in New York, extending a drop of 1 percent last week. A preliminary index of U.S. service industries is forecast to drop to 59.8 for July, a Bloomberg News survey showed before a report from Markit Economics today. The Federal Reserve is scheduled to review monetary policy at a two-day meeting starting tomorrow.

“Demand expectations are likely to remain weak and exert downward pressure in what is a big week for U.S. data,” said Michael Hewson, market analyst at London-based CMC Markets Plc. “Markets are expecting much more positive news out of the U.S. than is likely and this could well see U.S. prices slip back towards $100.”

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