Brent Slides On Libyan Port Reopening
Brent crude oil (BNO, quote) suffered its largest loss in almost a month, bringing it down near $108.
Brent crude oil (BNO, quote) suffered its largest loss in almost a month, bringing it down near $108.
Whilst commodities such as nickel and coffee have been offering longer term investors excellent returns this year, and with soybeans set to join the party with some good rollover returns, crude oil has promised much but delivered little.
Brent crude oil (BNO, quote) approached $110 on Friday morning and traded at $109.99 at 8:00 GMT as investors kept a close eye on Ukraine where the conflict between government forces and pro-Russia separatists escalated.
Brent crude oil (BNO, quote) was steady above $109 as investors kept a close eye on the developing situation in Ukraine and breathed a sigh of relief following in-line Chinese data.
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WTI Crude Oil (USO, quote) prices moved slightly higher during overnight trading in Asia. Volume remains light as we approach the U.S. first trading of the week with New Zealand and Australia closed for holiday.
Brent crude oil (BNO, quote) ticked up on Thursday morning as rising tension in Ukraine increased worries about supply interruptions. The commodity traded at $109.72 at 8:25 GMT as peace talks in Geneva began to look less and less worthwhile.
The recent bullish trend for crude oil, appears to be running into a stubborn area of price resistance on the daily chart in the $104.50 per barrel area, the same level which saw the commodity sell of sharply back in early March.
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Brent crude oil (BNO, quote) slipped below $109 to $108.58 at 5:50 GMT on Tuesday morning as investors put their faith in a meeting set to take place on Thursday between the US, the EU, Russia (RSX, quote) and Ukraine.