Geopolitical tension in the middle-east and expectation of rise in demand for crude oil in the US propped up oil prices in the international market to a one year high. Crude for August delivery settled at $101.24 a barrel on the New York Mercantile Exchange at a recent trading session. Tracking the most-active contracts, futures prices marked their highest settlement and first close above the k
Tag: futures
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Investors take cue from US jobs data
Nymex crude oil futures was trading around $95.02 a barrel while Brent North Sea crude for July delivery was hovering around $103.63 in recent trading sessions. Traders reduced their long position in crude oil futures following weak unemployment data and housing data in the US. Recent data showed initial jobless claims, a sign of the pace
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Crude oil futures rise in recent sessions
Crude oil futures rose in recent trading sessions in the international market led by optimistic unemployment data from the US. According to data released by the US Labor Department, unemployment in the country declined to 7.5 percent in April 2012 from 7.6 percent in the previous month. This is said to be the lowest unem
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Crude oil price falls on weak economic growth prospects
Amid signs of deterioration in the global macroeconomy, investors are reducing their long position in crude oil and this caused the Brent crude oil futures to decline below $100 a barrel. This is for the first time in nine months that the Brent crude oil futures slipped below $100
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SGX plans to delay launch of ore futures
In order to give clients and member firms more time to prepare for the new product, the Singapore Exchange plans to postpone the launch of futures contracts including iron ore and freight from February 25 to April 8. SGX said that it cleared a record 18.2 million tonne of iron ore swaps in January trumping an earlier record set i
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Global crude oil price may move in narrow range
Reports suggest that the global crude oil futures may trade in a narrow range as traders are cautious following the bleak outlook of the euro zone. Recently, the European Central Bank President Mario Draghi informed European lawmakers that the economic outlook for euro nations remained weak at the start of 2013 but the bank expects "a gradual recovery later this year
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Global crude oil price may move in narrow range
Reports suggest that the global crude oil futures may trade in a narrow range as traders are cautious following the bleak outlook of the euro zone. Recently, the European Central Bank President Mario Draghi informed European lawmakers that the economic outlook for euro nations remained weak at the start of 2013 but the bank expects "a gradual recovery later this year
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Deal on US fiscal cliff raises oil prices
Crude oil futures in the international market rose marginally in recent trade because traders expected the US economy to avert recession after the US government arrived at a deal on fiscal cliff. Recently, the Senate and the House of Representatives approved a deal preventing a raft of aust
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Oil price rises on geopolitical risks
The recent geopolitical tension in the middle east led to upward pressure in the price of crude oil in the international market. Investors feel that the outbreak of violence between Israel and Palestine in the middle east may cause supply disruption of crude oil. This caused oil futures to rise over 2 percent in recent trading sessions and it was reportedly trading at its highest price