oil prices – News Stories About oil prices - Page 13

Jul 3, 2008 7:07 AM CDT

Oil Gushes Past $145

Experts say a further weakening of the dollar will push prices higher still

(Newser) - The specter of conflict in Iran and a surprisingly large decline in US stockpiles pushed European oil prices above $145 today for the first time, reports the AP. A further weakening of the dollar, if the European Central Bank raises interest rates as expected later today, could push prices even...

Dow Enters Bear Market

Jul 2, 2008 3:33 PM CDT

Dow Enters Bear Market

Nasdaq also falls more than 20% from its high

(Newser) - Skidding stocks sent the Dow and Nasdaq into bear territory as oil hit a record near $144 a barrel, the Wall Street Journal reports. Besides oil, bad news from GM and weak jobs data darkened the street’s mood. The Dow fell 166.75 points to 11,215.51, down...

Mixed Results Cap Ugly June

MARKETS

Jun 30, 2008 3:39 PM CDT

Mixed Results Cap Ugly June

Month was 'something like the worst since the Great Depression,' analyst says

(Newser) - Stocks ended mixed today—the last day of the second quarter—and couldn't prevent the Dow and S&P from their worst June since the Great Depression, CNNMoney reports. The Dow ended up 3.50 today, to 11,350.01; the Nasdaq was down 22.65 to 2,292.98,...

Gas Prices Screw Nev. Brothels

Jun 30, 2008 11:00 AM CDT

Gas Prices Screw Nev. Brothels

Shed a tear for the lonely trucker... or don't

(Newser) - Here's one more casualty of soaring oil prices: Nevada brothels catering to lonely truckers are seeing business plummet. Sky-high diesel prices means that long-haul truckers have less discretionary income, so many brothels are offering promotions to give business a boost. At one establishment, customers get double what they pay for...

What if Oil Hits $200?

Jun 28, 2008 3:35 PM CDT

What if Oil Hits $200?

Inflation would skyrocket as American society reorganizes

(Newser) - Wall Street has predicted $200-per-barrel oil for months, but what if it really happens? Not only drivers would be hurt by such a spike, the Los Angeles Times reports: Inflation would skyrocket as oil-derived products turn pricey and "the purchasing power of the American people would be kicked in...

$142 Oil Drives Stocks Down

MARKETS

Jun 27, 2008 3:29 PM CDT

$142 Oil Drives Stocks Down

New crude record hampers recovery from Thursday's fall

(Newser) - The markets fell today, continuing the slide that marked yesterday’s session. Investors continued to mull the tidal wave of bad news that hit the financial, tech and consumer discretionary sectors Thursday, MarketWatch reports. The Dow fell 104.46 to 11,348.96, the Nasdaq lost 5.74 to close...

Oil Breaks Record,
Climbs Above $141

Jun 27, 2008 7:27 AM CDT

Oil Breaks Record, Climbs Above $141

Weak dollar sends investors into crude

(Newser) - Oil prices climbed above $141 a barrel in Asian trading today—another record—as the dollar's protracted slump prompted investors to flock to oil as a hedge against inflation. Prices also were lifted yesterday after OPEC's president said crude prices could go higher than $150 a barrel this year and...

'Difficult' Dow Ends Down 358

MARKETS

Jun 26, 2008 3:37 PM CDT

'Difficult' Dow Ends Down 358

Oil surges past $140 as dollar weakens, financials downgraded

(Newser) - Stocks plunged today due to the convergence of bad news across all sectors of industry against the backdrop of oil’s first surge over $140 a barrel, the Wall Street Journal reports. The Dow plummeted to a 2-year-low, shedding 358.41 to 11,453.42. The Nasdaq fell 79.89,...

Big Rally Ends in Modest Gains

MARKETS

Jun 25, 2008 3:36 PM CDT

Big Rally Ends in Modest Gains

Oil drop, Fed's confidence in growth not enough to preserve rise

(Newser) - The markets rallied for much of the day on news of ebbing oil prices and the Fed's decision to hold rates steady, but it fell mostly flat by the finish on nagging worries about long-term growth, the Wall Street Journal reports. The Dow—at one point up more than 100...

Stocks Stall, Finish Mixed

MARKETS

Jun 23, 2008 3:30 PM CDT

Stocks Stall, Finish Mixed

Investors are cautious ahead of Fed meeting

(Newser) - Markets ended mixed today, burdened by high oil prices and shaky financials. "It's been a terrible market. It definitely looks like we're going to re-test the lows all this week," an economist tells the Wall Street Journal. The Dow ended down 0.33 at 11,842.36, the...

Saudis May Boost Oil Supply Even Higher

Jun 22, 2008 4:11 PM CDT

Saudis May Boost Oil Supply Even Higher

But OPEC blames speculators and credit crisis for high prices

(Newser) - A hastily organized summit meeting in Saudi Arabia today offered little relief to oil consumers, Bloomberg reports. The Saudis did vow to increase production if needed, but OPEC blamed speculators and the credit crisis, not markets, for surging oil prices. "Saudi Arabia is prepared and willing to produce additional...

Nigerian Youths Blow Up Oil Pipeline

Jun 22, 2008 3:19 PM CDT

Nigerian Youths Blow Up Oil Pipeline

Chevron output diminished by 120K barrels per day

(Newser) - A youth gang blew up a Chevron pipeline in Nigeria yesterday, reducing output from the world's eighth-largest oil producer by 120,000 barrels a day. Such attacks are common in Nigeria, Reuters reports: Sparked by poverty and hatred of foreign companies, militants have cut oil production there by one-fifth over...

Oil-Addicted Bush
Must Kick the Habit

OPINION

Jun 22, 2008 6:32 AM CDT

Oil-Addicted Bush Must Kick the Habit

High fuel prices offer chance to change our ways

(Newser) - The American thirst for oil is like a drug addiction, and George Bush wants another hit, writes Thomas Friedman in the New York Times. Bush’s irresponsible energy plan involves getting a little more oil from Saudi Arabia to keep prices low, and then drilling in Alaska—simply prolonging our...

Houston All Smiles While
US Economy Sinks

analysis

Jun 21, 2008 6:15 PM CDT

Houston All Smiles While US Economy Sinks

Soaring oil prices keep the money and jobs flowing

(Newser) - Oil prices are crippling most American budgets, but folks are just fine in Houston—where unemployment sits at 3.8% and luxury jewelry stores and restaurants are jammed with customers. Oil refineries aren't fueling business, either: It's know-how, Daniel Gross writes in Slate. "It's the knowledge that has concentrated...

Dow Plummets to Below 12,000

MARKETS

Jun 20, 2008 3:34 PM CDT

Dow Plummets to Below 12,000

An oil boost and continued financial woes batter the markets

(Newser) - The markets tumbled today to lows not seen since the Bear Stearns fiasco in March, MarketWatch reports. Oil surged back over $135 a barrel, erasing yesterday’s meager gains, and bad news continued to depress financials. The Dow fell 220.40 to 11,842.69, the Nasdaq 55.87 to...

Make Lawsuits,
Not War,
Over OPEC Oil

OPINION

Jun 19, 2008 5:23 PM CDT

Make Lawsuits, Not War, Over OPEC Oil

President, states have standing in attempt to cap gushing prices

(Newser) - There’s no question OPEC’s price-fixing is illegal under American law, a former Reagan and Bush I adviser writes in the New York Times—so why not sue the oil cartel? US states are permitted to seek relief against aliens, and a joint suit by several attorneys general would...

Citi's Blahs Make Little Dent

MARKETS

Jun 19, 2008 3:38 PM CDT

Citi's Blahs Make Little Dent

Drop in oil prices help stocks finish slightly higher

(Newser) - Stocks posted moderate gains today as oil futures dropped below $135 per barrel on news of China's move to raise prices by trimming subsidies, MarketWatch reports. With traders little moved by warnings of further writedowns ahead for Citigroup, the Dow closed up 34.03, at 12,063.09. The Nasdaq...

China Jacks Up Energy Prices

Jun 19, 2008 1:13 PM CDT

China Jacks Up Energy Prices

Gas, electricity see 17%-18% increases as nation cuts subsidies to trim demand

(Newser) - China will raise domestic energy prices starting tomorrow, the Wall Street Journal reports, with gas and diesel costs jumping 18%. China’s heavily subsidized fuel is still cheaper than international rates, and the move may be an attempt to appease foreign governments, who blame Beijing's intervention for letting demand rise...

At Last, US Gas Consumption Starts to Fall

Jun 19, 2008 8:07 AM CDT

At Last, US Gas Consumption Starts to Fall

High prices, economic crash cause first decline in 17 years

(Newser) - The price of gasoline quadrupled over the last decade, but Americans responded by driving more and more in ever-larger gas guzzlers as if nothing had changed. But $4 gas combined with an economic black hole may have finally gotten the message across, reports the New York Times, as American gasoline...

Let's Not Kid Ourselves: Oil's Going Higher

Opinion

Jun 18, 2008 12:09 PM CDT

Let's Not Kid Ourselves: Oil's Going Higher

Why prices will keep rising, and what that will mean

(Newser) - Yes, $4 a gallon seems steep, but the worst is surely yet to come, Robert J. Samuelson writes in the Washington Post. Gas is on pace to rise to $7 a gallon by 2012, with oil rising to $225 a barrel, according to one economist. Oil-rich nations are acting as...