Tag Archives: USO

Crude Oil Update

 WTI Crude Oil (USO, quote) spot price ticks slightly lower this morning as commodity traders have to wait an additional day for the department of energy’s inventory report. Traders will be watching closely the American Petroleum Institute (API) Weekly Crude Stock report scheduled for today after the close.

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Is crude oil tipping its hand?

During the overnight Asian session crude oil began to lose its footing and accelerated its slide during the early morning U.S. session heading into the weekend. Crude oil continues to fall more than 2.75% as of this story despite better than expected Initial Jobless Claims report.

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Ahead of the non-Farm Payroll report

WTI crude oil prices are trading lower for the fourth session in a row as market participants jockey their positions ahead of the U.S. non-Farm Payroll numbers. Crude oil dropped as low as $85.68 on bearish comments surrounding the fragile euro zone economy from European Central Bank President Mario Draghi.

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What’s behind crude oil’s bullish posturing

WTI crude oil price continues to trade slightly higher in the $2.07 range on the first session of the fourth quarter. Price has been holding on positive comments from European Union Commissioner Olli Rehn about the Spanish banking system’s stress tests, suggesting the euro zone debt crisis could be contained. 

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