All Entries Tagged With: "Oil Prices"
Oil plunges below $64 on fears recovery may lag
Oil prices plunged nearly $3 to below $64 a barrel Monday as dismal unemployment figures from the U.S. and Europe last week sparked investor doubts about any nascent economic recovery. A significant fall in natural gas prices — a likely sign that industries are still struggling and unlikely to add jobs — as well as [...]
Energy prices drop with gas supplies healthy
By CHRIS KAHN NEW YORK Gasoline markets showed the first signs this week that an extended rally in pump prices is nearing an end after 52 straight days of price increases. Gasoline futures started falling midweek after a government report showed that gas production and imports jumped during an extended rally in retail gas prices. [...]
Oil back above $72 as dollar slumps
By PABLO GORONDI Oil prices rose back above $72 a barrel Tuesday as investors picked up commodities after the U.S. dollar slumped on comments by Russian President Medvedev, who said the world needed new reserve currencies. Benchmark crude for July delivery was up $1.74 to $72.36 a barrel by mid-afternoon in Europe in electronic trading [...]
Oil falls below $71 as US dollar strengthens
Oil prices fell below $71 a barrel Monday in Asia as a three-month rally lost steam amid a strengthening dollar. Benchmark crude for July delivery fell $1.32 to $70.72 a barrel by late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. On Friday, it fell 64 cents to settle at $72.04. [...]
Oil falls below $72 per barrel
By CHRIS KAHN NEW YORK Benchmark crude for July delivery fell 64 cents to settle at $72.04 on the New York Mercantile Exchange, the first time oil prices have fallen in several days. In other Nymex trading, gasoline for July delivery fell 2.18 cents to settle at $2.0431 a gallon and heating oil dropped 1.59 [...]
Behind Oil’s Surprising Surge
OPEC production cuts and hedge fund money have lifted oil prices. And fears about a falling dollar could push them higher London—It seems like a paradox: Demand for oil, which almost always rises, is likely to drop by 3% in 2009—the worst decline in almost 30 years. Stockpiles are so high that an ocean of [...]
Oil soars above $71, hitting 2009 high
VIENNA – Oil prices soared above $71 a barrel Wednesday to reach a 2009 high, as investors poured money into crude markets to protect themselves against the inflation risks posed by a weakening U.S. dollar. Oil, which typically trades inversely to the dollar, has more than doubled in price in three months as traders also [...]
Oil rises to above $69 as investors weigh outlook
Oil prices rose to above $69 a barrel Tuesday as traders brushed off concerns that the doubling of crude prices since March is out of step with a weak global economy. Prices also benefited from investors looking for a safe haven in commodities as the U.S. dollar lost ground against other major currencies. Benchmark crude [...]
Oil Falls Toward $68 From Seven-Month High
Oil fell toward $68 a barrel on Tuesday as prices slipped from a sharp rally to a seven-month high in the previous day. U.S. light sweet crude [US@CL.1 68.15 -0.43 (-0.63%)] fell. On Monday, it closed at $68.58 after hitting $68.68, the highest settlement and intraday prices, respectively, since early November last year on back [...]
OPEC Expert Says Oil Prices Could Fall Again
Oil prices could fall again because fundamentals are still weak, OPEC’s director of research said on Tuesday. U.S. crude [US@CL.1 68.01 -0.57 (-0.83%)] hit a seven-month high over $68 a barrel on Monday amid optimism that the economy would recover, although it retreated below $68 on Tuesday. But oil markets were still weak and the [...]
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