Posts tagged as:

SLB

Equity markets ended the session in green territory yesterday as investors focused on better-than-expected earnings from IBM instead of worrisome data on the home front. Weekly jobless claims came in at 386,000 versus the expected 352,000, while existing home sales also disappointed as the figure in at 4.37 million versus the expected 4.55 million. Amidst the mildly-bullish sentiment on Wall Street, crude oil futures took off; prices for the fossil fuel soared close to 3% on the day, settling just above $92.50 a barrel as the closing bell rang [see also How To Play Schiff's $5,000 Gold Prediction]. 

[click to continue…]

{ Comments on this entry are closed }

One of the biggest stories in the world of finance over the past few weeks is undoubtedly crude oil’s ascent to near 52 week high levels. The important commodity has benefited from a surge in optimism in a number of developed markets as investors bought up shares in America and the debt crisis in Europe cooled. Yet concerns still remain for the price of black gold as some fear that the commodity may have reached a top for the time being and that tightening measures in a variety of developed markets may lead to a sharp correction in the near future.

[click to continue…]

{ Comments on this entry are closed }