Stock futures and crude oil futures rose on Wednesday and Thursday as a number of factors buoyed traders’ spirits. The US Energy Information Administration reported that domestic crude inventories dropped for two straight weeks. This eased concerns that excess supply would undercut prices of light, sweet crude which was quoted at $74.64 a barrel on… Read more.
The price of crude oil futures could be poised to rise in the coming days despite a slow start to the summer driving season in the United States. Lingering economic jitters have apparently led many Americans to continue scaling back their summer travel plans, especially in light of the difficulties in the euro zone which… Read more.
Commodity prices, especially those involving energy, reportedly jumped Thursday in response to U.S. government predictions that this summer will feature a highly active hurricane season. This is understandable because the hurricane-prone Gulf of Mexico is one of the main oil and gas production areas in the United States, and is also home to many of… Read more.
Those who plan to invest in energy futures in the coming weeks may be interested to know that the U.S. government is calling for an “active to extremely active” Atlantic hurricane season in 2010. This is potentially important because large storms, particularly those that affect states situated on the Gulf of Mexico, tend to disrupt… Read more.
Natural gas futures have reportedly been falling in recent days due to stable supplies as well as a significant increase in U.S. drilling activity. Last week, the Energy Information Administration reported that there were 2,165 billion cubic feet of natural gas in storage, marking an increase of 76 billion cubic feet over the previous week… Read more.
Oil futures appear to be losing momentum for investors this week in light of renewed concern about the economic recovery, both in the U.S. and overseas. Stock markets around the world were already jittery in light of the ongoing debt situation in the European Union, where some member states are considered candidates for a sovereign… Read more.