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Crude oil futures rise to one-year high

Crude oil futures rise to one-year high

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

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Investors take cue from US jobs data

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 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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Analysts expect crude oil prices to be volatile in 2013

Analysts expect crude oil prices to be volatile in 2013

Analysts expect crude oil prices to be volatile in 2013 because of mixed signals on the demand and supply front. Although the International Energy Agency (IEA) expects crude oil demand to rise in 2013, slowdown in the global economy indicates that growth in demand may be muted

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Oil price rises on geopolitical risks

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