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NYMEX crude oil prices plunge to $70 on US supply glut, euro contagion fears

May 15, 2010 by Ee Mien Low
with 407 views
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channelnewsasia.com : NYMEX crude oil prices tumbled to 3-month lows on Fri [14 May 2010] at the end of a volatile week in which the market was hit by eurozone economic concerns and a strong dollar. NYMEX light sweet crude for Jun 2010 delivery closed at $71.61 per barrel. The price had tumbled to $70.83, the lowest level since Feb... [read more]

NYMEX crude oil prices surge above $86 to 17-month high on economic recovery

April 6, 2010 by Ee Mien Low
with 273 views
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bloomberg.com : Crude oil prices surged to the highest level in 17 months as growth in American jobs and service industries signaled that the economy is recovering from the worst recession since the 1930s. NYMEX crude oil prices for May 2010 delivery increased $1.75 to settle at $86.62, the highest closing price since 8 Oct 2008. The... [read more]

NYMEX crude oil prices rise above $78 on Nigeria crisis, US economic recovery

October 17, 2009 by Ee Mien Low
with 442 views
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channelnewsasia.com : NYMEX crude oil prices rose for a 7th straight session on Friday [16 Oct 2009], fuelled by a jump in industrial production in the US and rising tensions in Nigeria. Light sweet crude for Nov 2009 delivery reached $78.67, the highest since Oct 2008. Oil prices ended the week at $78.53. The NYMEX crude oil... [read more]

NYMEX crude oil prices rise sharply back to $70 on economic recovery signs

October 1, 2009 by Ee Mien Low
with 152 views
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channelnewsasia.com : Crude oil prices rose sharply on Wednesday [20 Sep 2009] on data showing more signs of recovery in the US. NYMEX crude oil for Nov 2009 delivery rallied $3.90 to end at $70.61 dollars per barrel. The US economy moved close to emerging from recession in Q2 2009 - revised data showed a smaller-than-expected 0.7%... [read more]

NYMEX crude oil prices hit $75 resistance level

August 24, 2009 by Ee Mien Low
with 81 views
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Heads up. Crude oil prices on NYMEX have just hit the fabled $75 resistance level. In fact nymex.com itself went down momentarily, probably overloaded by excited onlookers. It's now back up. This is a key resistance level that I have been talking about. Let's see how it goes from here. See also : 1. NYMEX crude oil prices rise to $... [read more]

NYMEX crude oil prices ease after surge to $73.24

August 21, 2009 by Ee Mien Low
with 160 views
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in.reuters.com : NYMEX crude oil prices eased below $73 per barrel on Friday [21 Aug 2009], reversing an earlier surge to a 7-week high. Data on Wednesday from the EIA showed a surprise 8.4 million barrel plunge in weekly US crude inventories had buoyed sentiment. But oil's surge proved short-lived as consensus grew that this was... [read more]

How to Calculate Ethanol's Value

June 7, 2009 by Robert Rapier
with 68 views
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There was a comment following the previous post that claimed that ethanol producers are making money - minus subsidies - at $1.75 a gallon. I attempted to set the record straight in the comments, but I thought this was probably worth a post.The way the blender's credit works is that gasoline blenders get a credit - recently reduced to $... [read more]

LNG possibilities keeping natural gas prices down in U.S.

May 23, 2009 by Michael Giberson
with 396 views
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“Our feeling is that natural gas prices have some challenges because of the LNG that may be coming this way due to our storage capability in the United States and the reduced industrial demand overseas,” Hackett said…Gas futures on the New York Mercantile Exchange have dropped about 30 percent this year, compared with oil’s 33 percent... [read more]

The oil market falls into line, perfectly.

May 20, 2008 by Lou Grinzo
with 72 views
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This is one of the weirdest things I’ve ever seen in energy data. I just checked the NYMEX oil prices web page, and what do I see but steadily rising prices from July 2008 ($128.98) all the way to December 2016 ($138.38) for the most recent settlement prices. (The NYMEX contracts listed on that page are monthly through the end of 2013,... [read more]