13 Jan 2005 10:19 AM

Crude oil prices rose in the wake of the US government report that showed a disappointing drop in inventories of crude oil, and under-realization of the refineries potential. February crude rose $0.47 to $46.84 a barrel. The

12 Jan 2005 08:17 AM

The dollar remained at a level close to one-week low against the yen as the market paused in anticipation of the US trade data ready to be released today. The median analyst forecast expects the US current account deficit to shrink to $54.00 billion in November as compared to a record $55.46 billion in October. The greatest impact on the forex market came from the remarks of the European Central Bank’s chief economist

11 Jan 2005 08:10 AM

The dollar dropped again after a slight rebound after US Treasury Secretary John Snow once again reiterated the stance that exchange rates are best determined by the market. The US currency that experienced a turnaround after setting record lows in December on Mr. Snow’s statement that US administration wants “to do

10 Jan 2005 08:54 AM

The dollar hovers around its seven-week high trading at $1.3070 on the statement from the US Treasury Secretary John Snow who said the Bush administration wants “to do things to sustain the strength” of the dollar. The determination the US leadership showed in bringing down the budget deficit that hit a record $412 billion last year was supportive of the dollar. ``In the past he would say `strong dollar’ and then talk about market forces; now he’s talking strong dollar and saying

06 Jan 2005 08:44 AM

Oil prices dipped to $43.28 after the US Energy Information Administration report showed better-than-expected rise in inventories amid continuing warm weather in the Northern Hemisphere.

28 Dec 2004 12:41 PM

Oil prices remained fairly stable after losing 6.5% yesterday on the forecast of unusually warm weather in the US Northeast where the bulk of the nation’s heating oil users live. Weather Derivatives Inc. of Belton, Missouri predicts a 21% drop in consumption in the period from Dec. 28 to Jan. 3. ``It’s been

27 Dec 2004 08:58 AM

Oil prices dropped on milder weather in the US and rising distillates supplies. February crude futures fell $1.38 to $42.80 a barrel.

24 Dec 2004 10:35 AM

The dollar reached a new all-time low against the euro, as a string of US macroeconomic data failed to convince traders of the dollar’s bright prospects. By 1205 GMT the dollar reached $1.3546, surpassing a psychological $1.34 barrier. Against yen, it traded at 140

23 Dec 2004 09:33 AM

Crude oil slipped further following a slide conditioned by the rise in inventories, confirmed both by the Energy Department and the American Petroleum Institute. The data are a "big plus for consumers -- inventories rise and [are] confirmed in tandem by both agencies, which is a shock as they have been at odds in recent weeks," said John Person, president of National Futures Advisory

23 Dec 2004 09:21 AM

The dollar fell to a new record level against the euro dropping to $1.3482 from yesterday’s level of $1.3390 in New York trading yesterday. The drop was caused by a number of factors, among them the speculation that President Bush is not likely to change his economic policies and will take no action to stop the dollar from falling

20 Dec 2004 08:24 AM

Yukos has lost its main asset, Yuganskneftegaz, sold in an auction held by the Russian Fund of Federal Property, for $9.35 billion. The buyer was a little known company OOO “Baikalfinansgroup”, although most familiar with the matter suspect that the real buyer was the state-owned Gazprom or another major oil company Surgutneftegaz. The

16 Dec 2004 08:45 AM

Oil prices are at a two-week high on the cold weather snap in the US Northeast and lower-than-average distillate stocks. U.S. light crude reached an intraday peak at $44.55 a barrel, to ease to $44.36 later. The heating oil stocks are still 13% below the average annual level, and a US government report shows a decline

15 Dec 2004 08:04 AM

Federal Reserve did not let the analysts down in their expectations of another rate hike in its December 14 meeting, bringing it up 25 basis points to 2.25. The rise in the Fed funds rate was accompanied by a hike in the symbolic discount rate that Fed uses to charge banks for overnight loans to 3.25. The

14 Dec 2004 09:05 AM

The US merger and acquisition market is showing strong signs of revival with its dollar value soaring 30% in 2004. Corporate execs may feel pressured for time amid prospects of a Fed rate hike and recent dollar slide. Normally, this would bring down the appetite for acquisitions. Now, against the background of healthy corporate

14 Dec 2004 08:23 AM

Oil prices are up on predictions of cold weather in the Northern Hemisphere. The growing demand for the distillates in the US Northeast where about half of the nation’s heating oil users live continues to drag the prices up. Light crude