Crude oil prices took a big hit to the chin and fell very sharply during the last week. This correction was expected to occur; only the timing was the missing factor. Goldman Sachs already advised its clients to sell major…
Category: Crude Oil
Weekly outlook for May 9-13
Here is a weekly outlook for May 9th to 13th that highlights the main news items and reports related to US, Canada and China. (all times GMT): Monday 9th of May – People Bank of China’s report on New Loans:…
Silver prices finished the week at 35$ – May 6
The final day of this very exciting week ended with another decline for major commodities including silver, crude oil (WTI spot and Brent oil), and natural gas prices. Here is a summary of the changes in commodities and precious metals…
Recommended posts for the weekend – May 7
The week long of price downscales of major commodities has ended. Let’s try to ease out of this excitement for the weekend. Here are several recommended posts you may find interesting: In forexcrunch, Yohay talks about Greece’s debt problem;…
U.S Labor showed similar improvement as last month – May report 2011
The US’s employment report was published today, May 6th by the Bureau of Labor Statistics published about the April 2011. According to the recent report, the labor force rose at a similar pace as it did the preceding month, as…
Oil prices fell very sharply yesterday, what’s next? – Oil outlook 6 May
Crude oil prices fell very sharply yesterday. These falls were related, in part to the 2% bump in USD compared to EURO. What is headed for oil prices today? Let’s examine the recent news related to the crude oil market…
US initial claims rose last week
The U.S. jobless claims continued to rise during last week, according to recent report published yesterday; as the initial claims increased by 43,000 for the week ending on April 30th, and it reached 431,000 claims; the insured unemployment rate rose…
Oil prices crashed and burned yesterday – May 5
Yesterday, crude oil prices fell very sharply by the largest scale in over two years. Gold and silver prices continued their descent as well. There are several factors that might have contributed to this financial market shock and it’s probably…
The EURO/USD drops as ECB left interest rate unchanged
Despite the expectations that the European Central Bank will raise its interest rate, eventually the Interest rate of ECB remained unchanged at 1.25%. The financial markets reacted very promptly to the news and EURO/USD fell very rapidly. Furthermore, major commodities,…
Oil prices continued to fall what’s next? – oil outlook 5 May
Crude oil prices are currently falling very precipitately; after WTI spot oil price declined for three straight days by a total of 3.7% and Brent oil by 4.7%, current oil prices (see below) show drops of nearly 6%. What is…