February 2010
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News from February 2010

Oil Initiates its Biggest Rally in a Month as Manufacturing and Risk Appetite Improve

A bounce in capital markets and subsequent slip for the US dollar helped leverage a significant rally from oil Monday. This substantive rally, from the floor of a long-term rising trend, would punch in as the largest single day advance since December 23rd (back when the commodity was in the midst of its steady advance to new yearly high).

Decisive action by OPEC will stabilise world oil prices

Decisive action by OPEC will stabilise world oil prices as volatility in the oil market continues along expected lines. The rally in oil prices in the second half of December 2009 and the first ten days of January this year has fizzled out. Oil has followed a declining pattern to the end of January.
The highest [...]

Oil prices trading steady around $73 amid worries over demand

Oil prices were little changed on Monday with oil trading close to six week lows amid concerns about global growth and weaker global crude oil demand.
Fresh economic data out of China, the world’s second-largest energy consumer, heightened concerns that Beijing would further tighten monetary policy. An official purchasing managers index remained firmly in expansionary territory, [...]