Showing posts with the label MarketWatch | Futures Movers

Oil ends below $76 for first time in over a year: MarketWatch | Futures Movers. 3.32p.m. EDT

By Myra P. Saefong and Michael Kitchen , MarketWatch  SAN FRANCISCO (MarketWatch) — Crude-oil futures fell Tuesday, finishing below $76 a barrel for the first time in more than year as uncertainty over Europe’s sovereign-debt crisis and a weak outlook for U.S. economic growth hurt prospects for future oil demand.  Crude oil for November delivery CL1X -0.93%  fell $1.94, or 2.5%, to settle at $75.67 a barrel on the New York Mercantile Exchange. Front-month futures prices haven’t closed at level this low since Sept. 23, 2010, according to data from FactSet Research.  “Oil is the blood that sustains the heart of economic growth,” said Keith Springer, president of Springer Financial Advisors. “Slower economic growth means less aggregate demand leading to less production of goods and therefore a reduced use of oil.” 

MarketWatch | Futures Movers: Oil futures rising through $108 a barrel

By Virginia Harrison , MarketWatch   SYDNEY (MarketWatch) — Benchmark Nymex crude-oil futures broke through $108 a barrel in electronic trading on Monday as unrest in North Africa and the Middle East continued to rattle supply fears. Light, sweet crude for May delivery /quotes/comstock/21n!f:cl\k11 ( CLK11 108.65 , +0.71 , +0.66% )  gained 69 cents, or 0.6%, to $108.63 a barrel on the New York Mercantile Exchange. Oil closed out the week with its highest settlement in more than five months, and prices have risen 19.0% this year. The conflict in Libya is now in its sixth week, with reports divided as to whether government or rebel forces are gaining ground in the violent and prolonged conflict. On the weekend fighting took place around the town of Brega, after Friday’s Nato airstrike that reportedly killed 13 people. Yemenis protest despite appeal     Despite a ca