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Crude steady as DoE oil stocks build lower than API estimate

February 15, 2017 3:56 PM
Crude oil prices have been on a roller-coaster ride to absolutely nowhere in recent weeks. It appears as though the buying and selling pressure in finely balanced. Bullish speculators are encouraged to remain in the game because of the OPEC’s efforts to reduce supply. Bearish traders are encouraged by signs of renewed rise in oil production in the U...

WTI crude drops to $40 as oil stocks jump

March 23, 2016 6:30 PM
<p>WTI crude oil fell on the back of data from the US Department of Energy which showed US oil stockpiles rose by a sharp 9.4 million barrels last week. This more or less confirmed the data that was released by the American Petroleum Institute (API) the night before, but it still disappointed the expectations of a much smaller build. However crude s...