OIL REPORT | 13 November 2009
The WTI dipped on Friday towards $76 a barrel, falling further after tumbling nearly 3 percent the previous day as the latest EIA data showed a bigger-than-expected build in U.S. crude inventories. Further hitting prices on Thursday, the greenback rose broadly in technical trading after a weekly U.S. jobless report triggered strength in the currency and momentum pushed it further through key levels.
OIL REPORT | 05 November 2009
The WTI inched lower but held above $80 on Thursday, a level it had closed at a day earlier for the first time in eight sessions after U.S. crude inventories showed an unexpected decline. With oil prices shadowing the stock indices and the greenback, market participants will take cue from crucial employment data due for release on Friday.
OIL REPORT | 29 October 2009
The WTI slipped towards $77 on Thursday, after falling 2.6 percent a day earlier, pressured by government data showing a surprise build in U.S. gasoline inventories last week. Further tangible evidence of economic recovery will be needed for the WTI to attain and maintain itself above the 85$ mark.
OIL REPORT | 22 October 2009
The WTI slipped towards $80 on Thursday as a stronger dollar encouraged investors to lock on profit from a 12-month high hit the previous session. On Wednesday, U.S. crude surged to $82, the highest price since October last year, as weekly U.S. government oil data showed a large drop in gasoline inventories over the last week, and fuel demand rising about 4 percent year-on-year.
OIL REPORT | 16 October 2009
The WTI was up for a seventh session just below $78 a barrel on Friday, after touching a one-year high earlier on an unexpectedly steep drop in U.S. oil product stocks and weakness in the dollar. The last leg of the rally, however, is fundamentally unwarranted in our opinion and we believe a correction is about to materialise.
INTELLIGENCE BRIEF | 28 September 2009
In a show of defiance before Thursday's pivotal talks on the country's nuclear programme, Iran has test-fired a series of short, medium and long-range missiles. Speculations about the imminence of air strikes on Iran’s nuclear installations will regain momentum. The prospect of sanctions implicating oil and gas will also raise the spectre of possible Iranian retaliation.
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Intelligence Brief / 06 March 2006
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