Crude oil price plunged -3.8% to settle at 69.96 Monday amid worries that credit tightening in China would dampen demand outlook. Stock markets also declined with Dow Jones Industrial Average and S&P…
Tag: Commodities
Refiners In China At Risk As The Government May Delay Price Hike
Crude oil price rebounds to 70.2 in European morning as strong China PMI eases demand worries. Trading will likely remain thin before NY session opens. The US government will report ISM manufacturing…
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG) Short term outlook in Natural gas remains bearish. While some consolidation might be seen in near term, upside recovery is expected to be limited by 3.25/60 fibonacci resistance…
Crude Oil Price Retreats In Asia Amid Decline In Stock Markets
Crude oil price drops to 72.3 in Asia Monday as driven by decline in stock markets. Strength in Japanese yen after DPJ’s election victory and worse-than-expected earnings results by Chinese companies trigger…
Crude Extends Weakness As China Shares Tumble
WTI crude oil price plunges below 71 in European morning. In August, the benchmark contract probably stays flat or only edges slightly higher after modest decline in the previous month. Tumble in…