Oil price: China's shrinking manufacturing activity affects the crude oil markets

Although the prices of crude oil slightly recovered from the steady downward trend, it is unlikely to reach the economically-crucial $100 a barrel anytime soon, even by the predictions of the fierce optimists - and chartists. The slight rise in price during the last few days, which is more of an ano…

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A temporary boost for oil price: the effect of bomb cyclone

As the US braced itself for the so-called bomb cyclone before the weekend, the oil price that has been plummeting for weeks, got a sudden boost and went up. As crude oil markets closed on Friday, WTI, Brent and LNG, liquified natural gas, stood at $79.56,$83.92 and $5.08 respectively.  It is obvious,…

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The epic fall of oil price

The price of crude oil has been falling for weeks and the US crude stocks are no longer the crucial factor that determines its trend. Had it not been for the relatively high price of LNG, liquified natural gas, the fall of oil price would have been much steeper and more painful for the producers. Th…

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Oil price: China's Manufacturing PMI Index falls sharply in November!

The oil price that rose for two successive days before the weekend, only to fall back to where it was during the most part of last week, rose slightly on Monday when markets were open for business.  Since a massive US crude draw could not lift the prices of crude oil and sustain it, the rise we witn…

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Oil Price: EIA data boosts the prices for two consecutive days - before falling back!

The price of crude oil that had been falling for three successive weeks, received a substantial boost this week from none other than the EIA, the US Energy Information Administration. The EIA reported a massive crude draw on Wednesday in its weekly report: there was a draw of 12.58 million barrels d…

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Oil price: mild European temperatures keep the price of fossil fuels low

European gas prices that have been steadily rising in the last two weeks played a definite role in stopping the crude oil from plummeting due to gloomy economic developments across the world. With the unseasonably mild temperatures in the continent, mercury rising into double digits on many days, th…

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Falling oil price continues in step with feared economic gloom

The price of crude oil tumbled further when the markets opened for business on Monday, reflecting the widespread anxieties over the health of the global economy, exacerbated by the rising energy costs. As of 11:45 GMT, the prices of WTI, Brent and LNG, liquified natural gas, were at $79.76, $87.34 a…

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Oil price: short-lived boost ended with gloomy economic forecasts

The short-lived boost enjoyed by the oil markets, thanks to the significant crude draw announced by the EIA, US Energy Information Administration, this week lost its spark on Thursday as the gloomy economic news grabbed the headlines - once again. Jeremy Hunt, the Chancellor of Exchequer of the UK, …

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US Midterm elections: not midterm blues for Democrats, after all

The price of crude oil that had been steadily rising for the past three weeks lost its momentum once again on Tuesday and continued to stay that way on Wednesday, when the markets opened for business. Analysts are divided when it comes to gauging the impact of the outcome of the US midterm elections…

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Has the oil price found the direction - finally?

The price of crude oil, which almost mimicked a turbulent whirlpool in a swollen river for the past few weeks, finally seemed to have found a certain sense of direction. For three successive weeks, it has been rising despite the endless gloomy, economic news that has cast an ominous shadow across th…

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Boosting oil prices: what will be the next move by the OPEC+?

Apart from incurring the wrath of the US, the OPEC+ does not seem to have achieved any substantial financial benefit from its much-trumpeted production cut announced on October 5, in response to the falling oil prices for a few weeks before it. Although the production cut grabbed the headlines with …

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