In today’s OPEC meeting the OPEC ministers didn’t come up with a decision today. According to Bloomberg, OPEC members could reach a consensus on whether OPEC should raise oil production or not. OPEC’s official oil production didn’t incline since the…
Tag: current crude oil price
US PMI manufacturing index fell to 53.5, oil prices also declined
The U.S. ISM Manufacturing PMI, which is an index that estimate the economic activity in the manufacturing sector in the U.S., declined during May to 53.5% after it reached on April 60.4%, i.e. a 6.9 percent points decline. This decline…
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,…
Weekly outlook for April 11-15
Here is a weekly forecast for April 11th to 15th presenting the main news items and reports related to US, Canada and Europe, and scheduled events, such as the G7 and G20 meetings. During the upcoming week, Trading Energy will…
Should we be concerned with Crude oil prices in 2011?
Since we are nearing 2011, there are many speculative sayings in regards to crude oil price forecast in 2011. Some consider that it could shoot off the roof and reach very soon the 100 USD mark and from there on, it…