Traders sold Nymex sweet, light crude futures lower on Wednesday in reaction to this week’s DOE report, which showed another build in crude oil stocks at Cushing, Oklahoma. This build brought stocks there to their highest levels ever. [More]

The oil complex drifted higher on Tuesday in light and uninspired trading. The most remarkable part of the market on Tuesday was that it did not continue weakening – despite the lack of anything really bullish. The market was greeted very early in the New York day with news that the Syrian government had resigned as the result of protests that started earlier in March. [More]

Oil prices sold off on Monday as traders contemplated the possibilities of renewed Libyan oil exports, with opposition leaders in that country promising to build on weekend successes. [More]

The oil complex was mixed in trading overnight on Friday, with crude oil and gasoline prices higher and heating oil prices lower. Prices traded through the morning on both sides of unchanged, with short-covering lifting everything into positive territory in the first hour, as traders covered shorts before the weekend. [More]

Oil prices were mixed in trading overnight and early Thursday morning, with crude higher and refined products lower. When the Nymex opened for normal trading, it soon reached a point where gasoline prices turned positive, while crude oil and heating oil were negative. [More]

Crude oil and gasoline prices were higher on Wednesday, while heating oil prices declined. Traders were watching events unfolding in Libya, where tanks loyal to Khadafi were reported backing away from rebel strongholds. [More]

The oil complex was higher again on Tuesday, in a reasonably quiet and subdued session dominated by Mid-eastern fears. In Libya, the main US objectives of making it safe for planes to patrol the air-exclusion zone seem to have been reached. President Obama is now reportedly keen for the US to hand over its leadership role. [More]

“You have proven to the world that you are not civilized, that you are terrorists – animals attacking a safe nation that did nothing against you,” was the response of Libyan leader Moammar Khadafi to Allied bombing missions yesterday. [More]

Oil prices were mixed to lower on Friday, with gasoline prices showing very mild losses, heating oil prices with heavier losses and crude oil with moderate to light losses. Oil prices had been lower in trading Thursday night as traders reacted to news that the UN Security Council had approved an air exclusion zone over Libya. [More]

Oil prices were strongly higher in trading on Thursday, as traders turned their attention to the Middle East, away from the tragedy in Japan. The UN was supposed to discuss an air exclusion zone over Libya, and the Security Council finally did vote to impose one, well after prices had stopped trading. [More]