This summer, an Exxon Mobil pipeline carrying oil across Montana burst suddenly, soiling the swollen Yellowstone River with an estimated 42,000 gallons of crude just weeks after a company inspection and federal review had found nothing seriously wrong.
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Oil prices changed direction and sharply inclined while major stock markets including the S&P500 rose as well. Currently, oil prices are traded with moderate falls. Today, September 8, 2011the ECB rate decision will be announced, the EIA natural gas report will be published, the EIA crude oil stockpiles report, and the Canadian and American trade balance reports.

On Wednesday, September 7th oil price (WTI) sharply rose by 3.86% to $89.34/b; Brent also inclined by 2.25% to $116.19/b; during September WTI inclined by 0.6%; Brent oil rose by 0.84%. Read more »

Singapore: Brent crude rose for a sixth straight session on Tuesday August 30, 2011, buoyed by a landmark bank merger deal in Greece and strong data from the United States that allayed fears the world’s top oil consumer was sliding back into recession.

Oil prices were also supported by a rally in stock markets with money switching back to riskier assets after U.S. data showed consumer spending in the world’s largest economy rose at its fastest pace in five months in July.

Brent October crude was up 13 cents to $112.01 a barrel by 6:2am. Read more »

Oil prices fell slightly to near $85 a barrel Wednesday August 23, 2011 in Asia after a U.S. supply report gave mixed signs about demand for crude.

Benchmark oil for October delivery was down 36 cents to $85.08 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude rose $1.02 to finish at $85.44 on Tuesday.

In London, Brent crude for October delivery was down 11 cents to $109.20 on the ICE Futures exchange. Read more »