Brent Steady, Supply Still Weighs On Prices
Brent crude (BNO, quote) oil traded steadily at $102.10 at 8:10 GMT as the global supply glut weighed on prices.
Russia
Brent Remains Below $103 Despite Tightening Supplies
Brent crude oil (BNO, quote) was steady on Wednesday morning after briefly rising overnight, but waning demand in both China (FXI, quote) and Europe (FEZ, quote) coupled with declining U.S. crude imports kept a lid on gains.
Brent Steady Near $107 Amid Global Supply Glut
Brent crude oil (BNO, quote) was steady above $107 as investors kept an eye on global instabilities, but relaxed their worries about a supply interruptions as the market appears to have a glut of crude.
Positions Update
Happy Friday Everyday This week we saw a nice swing up in the beginning of the week and then downward on global tension in Israel and concerns over the tragedy of the downed plane in the Ukraine. Our prayers and thoughts are with those families effected by this horrible tragedy.
BRICS Seeks New Paths to Develop
President Xi Jinping is preparing to attend the BRICS summit as the group is generating new initiatives amid slowing economic growth, observers said.
Brent Steady As Iraqi Exports Look Unaffected
Brent crude oil (BNO, quote) was steady just below $114 as worries about a supply interruption in Iraq faded. The commodity traded at $113.78 at 8:50 GMT as investors evaluated whether or not the Middle Eastern nation’s ongoing conflict would escalate further and tighten global supplies.
Brent Steady On Promising Global Appetite
Brent crude oil (BNO, quote) was steady above $108 as encouraging data from the world’s top two consumers helped raise the global demand outlook.
Brent Near Three Week High On Supply Worries
Brent crude oil (BNO, quote) made its way above $110 on Thursday as rising tension in Ukraine raised concerns about supply interruptions.
Who Has the Power to Push Gold? Bears or Bulls?
The spot price of gold (GLD, quote) remain basically flat in the pre-market session as it continues to trade near its 2 ½ week high.
Economic Problems Continue to Plague the Ukraine
Reports overnight show Ukraine’s GDP fell by 1.1% yr/yr for the first quarter in 2014. Ukraine’s department of State Statistic Services report also indicated its economy dropped 2% in January-March from the previous quarter.