Archive : Oil Futures

Sentiment in the oil pits turned negative during the afternoon trading session despite better than expected inventory data released by the Department of Energy.  Oil prices followed US equities lower, which were dragged down by worse than expected earnings from Apple on Tuesday.  WTI declined more than $2 dollars a barrel testing support levels. The inventory reflected a bullish picture, but was [...]

Oil markets continued to grind higher, as investors continued to move capital into riskier assets.  On the heels of last week’s better than expected employment report, US growth prospects are beginning to climb, adding a bullish tone to the petroleum markets.Oil prices are starting to show specific signs of bullish price action.  Specifically, the large contango that was seen in WTI oil prices [...]

Oil markets received a much needed shot in the arm as sentiment on riskier assets continued to benefit globally.  Wednesday’s better than expected economic data along with robust petroleum inventory numbers aloud oil prices to rise nearly $4 dollars a barrel to test the $80 level. Prior to Wednesday trading session, ADP private payrolls indicated that while US labor market conditions remain [...]

It can truly be said that oil is the lifeblood of capitalism. Not only do oil products produce the fuels, energy and lubricants that industry needs for physical production, the petrochemical industry produces an enormous range of products from drugs to plastics. The clearest example of the importance of oil is in the production of petrol and diesel, but, of course, oil and gas are widely used in electrical [...]