OIL FUTURES: Crude Swings To Gains; Flirting With $79/Bbl
NEW YORK (Dow Jones)–Crude futures settled higher Friday, rallying from early losses on optimistic economic data that countered a report showing slower U.S. growth. Light, sweet crude for September delivery settled 59 cents, or 0.8%, higher at $78.95 a barrel on the New York Mercantile Exchange, swinging from as low as $76.83 in early trading ...
Oil prices rise in volatile trade
US crude oil prices rose overnight in volatile trading as the weak dollar and positive euro zone and German economic data provided lift before a Wall Street reversal helped limit oil’s rise. Crude futures, attempting to break a two-day string of lower settlements, ran into resistance near US$79 a barrel after rallying US$1.90 to US$78.89 ...
Goldman Sachs Perdict Oil to Rise
Goldman Sachs Group Inc. (NYSE: GS) analysts said that crude oil prices are currently “significantly” below the level which is warranted by fundaments, resulting an opportunity for investors to hedge this year and next. The firm said that the balance between supply and demand in oil will likely tighten during the second half of the ...
