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WASHINGTON – The U.S. Energy Information Administration recently reported that U.S. crude oil imports fell to their lowest level in 12 years in 2011 and was down 12% from its peak level in 2005.
Read More →PARIS - The IEA said its governing board will review the effect of this release of oil reserves on the market 30 days from the date of its announcement (June 23).
Read More →Goldman Sachs was the first to forecast a $100-plus-per-barrel crude oil price when the bank issued a research report last November, which called for a $110-per-barrel average price for West Texas Intermediate (WTI) crude in 2011. Morgan Stanley released a similar report in January and targets $95-per-barrel of WTI futures by December 2010, with an average price of $100 per barrel in 2011.
Read More →GAITHERSBURG, MD - Crude oil closed within a few dollars of its 2009 high, but gasoline and heating oil are some 5-8 percent or so below top levels witnessed earlier in the month, according to the Oil Price Information Service.
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