American Petro Hunter - Industry Commentary

Crude-Oil Futures Advance on Weaker Dollar, OPEC Outlook for China Demand

Thu, 15 Jul 2010 00:00:00

Crude oil gained as the dollar weakened against the euro, while rising equity markets and a demand forecast from OPEC reaffirmed confidence that the recovery will buoy fuel consumption.

The Organization of Petroleum Exporting Countries predicted that global oil demand will grow in 2011 at about the same rate as this year, led by developing economies such as China and India. Equities gained as JPMorgan Chase & Co., the second- biggest U.S. bank by assets, said profit rose 76 percent, higher than analysts expected. [more]

Oil prices hit highest level in 2 weeks, near $80

Wed, 14 Jul 2010 00:00:00

Oil prices continue to swing in the mid- to upper-$70s this week as investors digest the first wave of quarterly corporate results, and mixed economic and supply data.

A strong outlook for global crude demand pushed prices up 3% Tuesday, and oil continued to climb slightly higher Wednesday following a better-than-expected weekly government inventory report.

Prices have been trading between $70 and $80 a barrel since May. Last week, they posted their biggest weekly gain since May, jumping 5.5% to hit $76.09. [more]

OPEC Forecasts Oil Demand to Increase 1.2% Next Year, Led by China, India

Tue, 13 Jul 2010 00:00:00

The Organization of Petroleum Exporting Countries forecast that global oil demand will grow in 2011 at about the same rate as this year, led by developing economies such as China and India.

Worldwide crude oil consumption will increase by 1.05 million barrels a day, or 1.2 percent, next year to average 86.41 million barrels a day, the organization�s Vienna-based secretariat said today in its first assessment for 2011. This year OPEC predicts demand will grow 950,000 barrels a day, or 1. [more]

Oil up to near $85, breaking 5-day losing streak!

Wed, 14 Apr 2010 00:00:00

Oil prices rose to near $85 a barrel Wednesday, breaking a five-day slide as rising global stock markets and a weaker dollar boosted investors' appetite.
By early afternoon in Europe, benchmark crude for May delivery was up 89 cents to $84.94 a barrel in electronic trading on the New York Mercantile Exchange. The contract dropped 29 cents to settle at $84.05 on Tuesday.
The Dow Jones industrial average rose to a fresh 18-month high Tuesday. [more]

Crude Oil Surges to 17-Month High as Dollar Slips Against Euro

Thu, 1 Apr 2010 00:00:00

Crude oil surged to a 17-month high as the dollar declined against the euro, bolstering the appeal of commodities as an alternative investment.

Oil climbed above $83 a barrel after the greenback fell against the common currency for the third time in four days. Prices slipped from the day�s highs after an Energy Department report showed that supplies of crude oil rose more than forecast last week and that gasoline inventories unexpectedly increased. Futures rebounded after 12 p.m.

�The market is focused on the U. [more]

Oil Rises to Seven-Week High as Global Equity Markets Advance

Tue, 2 Mar 2010 00:00:00

Crude oil rose to a seven-week high as equity markets advanced, increasing optimism that a growing global economy will bolster fuel demand.

Oil climbed as much as 2.9 percent as the MSCI Emerging Markets Index climbed to its highest level in five weeks after India�s economy improved. The gain accelerated as the dollar weakened against the euro, raising demand for commodities as an alternative investment.

�We are seeing new fund money come into commodities,� said Carl Larry, president of Oil Outlooks & Opinions LLC in Houston. �Everyone is focused on growth and how best to profit from it. [more]

Crude Oil Climbs a Fourth Day on Improved Outlook for Demand.

Wed, 10 Feb 2010 00:00:00

Crude oil rose for a fourth day in New York on speculation oil demand will increase this year as Europe help tackle Greece�s crippling debt problem and China reported a lower-than-expected inflation gain.

Asian stocks climbed after consumer prices in China rose 1.5 percent in January from a year ago, lifting expectations that the country will delay raising interest rates. The median forecast in a Bloomberg News survey of economists was for a 2.1 percent increase. Prices also gained on prospects that Germany and France will aid Greece to overcome its budget deficit. [more]

Oil Rises for the First Time in Six Days as U.S. Equities Gain

Tue, 19 Jan 2010 00:00:00

Crude oil rose for the first time in six days as U.S. equities, led by health companies, climbed on speculation Republicans will block an industry overhaul.

Oil rebounded after the Standard & Poor�s 500 Index gained the most in two weeks. Hedge-fund managers and other large speculators increased their bets on strengthening crude oil prices to the highest level since at least 1983, U.S. [more]

Oil Rally Set to Go Above $85, BarCap Says: Technical Analysis

Mon, 11 Jan 2010 00:00:00

Crude oil�s four-week rally hasn�t run its course and prices will reach at least $85.55 a barrel in New York, according to technical analysis by Barclays Capital.

Oil has advanced nearly 6 percent this year to more than $83 a barrel as plummeting temperatures around the world stoked demand for heating fuels. Crude will gain as prices extend a �sling-shot� pattern of rises and declines in place since last summer, according to the bank.

Oil�s drop on Jan. 7. [more]

Oil Rises a Seventh Day, Set for Biggest Annual Gain in Decade

Wed, 30 Dec 2009 00:00:00

Crude oil rose for a seventh day as colder weather in the U.S. increased demand for heating fuels. Prices are poised for the biggest annual gain since 1999 on optimism consumption will rebound as the global economy recovers.

Oil settled at a six-week high yesterday on concern unrest in Iran may disrupt supplies from the second-largest producer in the Organization of Petroleum Exporting Countries. Signs the U. [more]