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Following the positive Dollar news on Friday, the price of crude temporarily rose above $70.00. This increase proved to be temporary, largely due to a Japanese business confidence report, and prices have since dropped to around the $69.50 level. The report showed that business confidence increased marginally, implying that demand for crude is down in [...]

Crude levels declined for a seventh straight day, ending at a two month low Thursday as concerns of oversupply and low demand persist. Light, sweet Crude Oil for January delivery on the New York Mercantile Exchange settled down 13 cents at $70.54, the lowest level since Oct. 7th. With renewed attention to supply and demand, confidence [...]

Following a U.S. inventories report showing an increase in distillate oil stockpiles, crude prices fell as there appears to be a glut of the commodity in the American market. While crude oil inventories actually fell, investors largely seemed to ignore this, instead choosing to pay attention to oil overall. Consequently the price of crude fell [...]