{"id":11426,"date":"2010-07-13T09:02:10","date_gmt":"2010-07-13T07:02:10","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/11426\/wti-oil-price-heading-towards-74-us-data-a-concern\/"},"modified":"2010-07-13T09:02:10","modified_gmt":"2010-07-13T07:02:10","slug":"wti-oil-price-heading-towards-74-us-data-a-concern","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/11426\/wti-oil-price-heading-towards-74-us-data-a-concern\/","title":{"rendered":"WTI oil price heading towards $74, US data a concern"},"content":{"rendered":"

WTI oil prices open trading on Tuesday and quickly head lower towards the $74 mark as US economic data being relased later this week has investors conerned that commodities and oil prices will fall. US Light crude oil futures for August 2010 delivery was trading down at $74.40 07.00 GMT on the NYMEX. “Oil prices have been quite correlated with economic data. If US retail sales fell worse than expected, yes” crude prices would fall, said Serene Lim, oil and gas analyst with ANZ bank in Singapore. Meanwhile, US crude stockpiles probably fell by 2 million barrels in the week to July 9th 2010, a recent Reuters survey showed, after falling 5 million barrels a week earlier because of shutdowns and shipping disruptions related to Hurricane Alex. “We shall expect more hurricanes this season, so at this point we should pay more attention to the level of stockpiles.” said Keichi Sano, general manager of research at SCM Securities in Tokyo. The industry group American Petroleum Institute will release its weekly inventory report later today followed by government statistics from the Energy Information Administration tomorrow. WTI oil price heads back under $72 on latest US data WTI oil trading down 3 percent, near $73 on grim US data WTI oil price trading higher on US dollar & supply data WTI oil price near $75 on Dow Jones, US oil supply drop Brent oil price trading near $74 on optimistic US data WTI oil trading over $73 as stock markets lift oil prices Oil prices trading higher as gold tips over the $1200 mark Oil prices start the week trading higher on US data Euro in Greek tailspin, US dollar firms & oil prices holding out Light oil price trading up as US dollar takes a knock Oil prices trading near 2010 highs on latest US jobs data WTI oil price trading near $76, awaits US company’s data WTI oil price ends week over $76, tracks stock markets WTI oil price moves lower, awaits Tuesday’s US market open WTI oil price trading near $73, time to get long on oil? WTI oil price drops to $72 mark on US jobs data, markets WTI oil price lower, Hurricane Alex to miss Gulf oil platforms WTI oil prices trading higher, eyes on Gulf hurricane Alex Oil prices in upward storm as nature whips the Gulf again WTI oil price trading above $78, eyes on Dollar Index <\/p>\n

Continued here:\u00a0
\nWTI oil price heading towards $74, US data a concern<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

WTI oil prices open trading on Tuesday and quickly head lower towards the $74 mark as US economic data being relased later this week has investors conerned that commodities and oil prices will fall. US Light crude oil futures for August 2010 delivery was trading down at $74.40 07.00 GMT on the NYMEX. “Oil prices have been quite correlated with economic data. If US retail sales fell worse than expected, yes” crude prices would fall, said Serene Lim, oil and gas analyst with ANZ bank in Singapore. Meanwhile, US crude stockpiles probably fell by 2 million barrels in the week to July 9th 2010, a recent Reuters survey showed, after falling 5 million barrels a week earlier because of shutdowns and shipping disruptions related to Hurricane Alex. “We shall expect more hurricanes this season, so at this point we should pay more attention to the level of stockpiles.” said Keichi Sano, general manager of research at SCM Securities in Tokyo. The industry group American Petroleum Institute will release its weekly inventory report later today followed by government statistics from the Energy Information Administration tomorrow. WTI oil price heads back under $72 on latest US data WTI oil trading down 3 percent, near $73 on grim US data WTI oil price trading higher on US dollar & supply data WTI oil price near $75 on Dow Jones, US oil supply drop Brent oil price trading near $74 on optimistic US data WTI oil trading over $73 as stock markets lift oil prices Oil prices trading higher as gold tips over the $1200 mark Oil prices start the week trading higher on US data Euro in Greek tailspin, US dollar firms & oil prices holding out Light oil price trading up as US dollar takes a knock Oil prices trading near 2010 highs on latest US jobs data WTI oil price trading near $76, awaits US company’s data WTI oil price ends week over $76, tracks stock markets WTI oil price moves lower, awaits Tuesday’s US market open WTI oil price trading near $73, time to get long on oil? WTI oil price drops to $72 mark on US jobs data, markets WTI oil price lower, Hurricane Alex to miss Gulf oil platforms WTI oil prices trading higher, eyes on Gulf hurricane Alex Oil prices in upward storm as nature whips the Gulf again WTI oil price trading above $78, eyes on Dollar Index <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lightning_design_setting":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11426","post","type-post","status-publish","format-standard","hentry","category-welcome-start-here-tradecrudeoilchatroom"],"_links":{"self":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/11426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/comments?post=11426"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/11426\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=11426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=11426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=11426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}