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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: oil price

oil price stories: 186 news summaries

1 - 20 of 186 Stories | 1 2 3 4 5 ... 10 Next >>

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MARKETS

 Dow Up 56 on Oil, Gold 

Energy firms rise as oil adds $3.08

Sep 8, 09 3:21 PM CDT
(Newser) - Stocks posted solid gains today as commodity prices rose, the Wall Street Journal reports. Oil jumped $3.08 to $71.28 a barrel and gold crossed the $1,000-an-ounce mark. Commodity-producing stocks Exxon, Chevron, and Alcoa all saw gains as a result. The Dow added 56 points to close at... More »

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Chevron • Dow Jones • Nasdaq • oil price • S&P 500 • gold prices • Exxon Mobil

Rogue Trader Shocks
Oil Market

Crude hits highest
level in a year on unauthorized trades

Jul 3, 09 7:20 AM CDT
(Newser) - On Tuesday, the price of oil spiked unexpectedly to its highest level in 2009—a barrel of crude jumped from $71 to $73.50 in just one hour, for no apparent reason. Yesterday the reason became clear: a rogue broker in London with PVM, the world's largest petroleum brokerage, had... More »

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oil • petroleum • oil price • crude oil • rogue trader • oil futures

OPINION

Wallop Iran
Where It Hurts:
Oil Revenues

Two 'green' revolutions could bring down regime: Friedman

Jun 24, 09 7:58 AM CDT
(Newser) - Pundits and politicians are wasting their time telling Barack Obama what he should be saying about the growing "green revolution" in Iran, writes Thomas L. Friedman. The country's reformers and protesters don't need American encouragement; they need a weakened theocracy—which will only happen when oil prices go into... More »

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Iran • Barack Obama • oil • Mahmoud Ahmadinejad • green technology • oil price • Thomas Friedman • Ayatollah Ali Khamenei • green revolution • Iranian election

(Newser) - In times like these, everyone’s got problems. Exxon and Chevron? Finding safe places to stash $40 billion they stockpiled while oil prices were stratospheric last summer. “The biggest challenge we’ve had is making sure all the cash is there every morning,” Exxon’s CEO tells Bloomberg,... More »

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Exxon • Chevron • oil price • Exxon Mobil • Big Oil • cash • credit default swap

Airlines Panic as Recession Grounds Passengers

Falling price of oil fails to make up for slump in demand

Mar 10, 09 7:04 AM CDT
(Newser) - A steep slide in passengers has airline execs reaching for the panic button, reports the Wall Street Journal. Airlines had banked on the drastic drop in oil prices more than making up for falling demand caused by the recession, but the decline—especially in first and business class—has been... More »

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airline industry • recession • air travel • oil price • premium class travel • airlines • recession depression

ANALYSIS

Cheap Oil Keeps World Economy Off Balance

With crude under $40, investment dries up, nations lose revenue

Feb 20, 09 5:18 AM CST
(Newser) - Oil surged 13% yesterday in New York trading—and still closed at less than $40 a barrel, reports the Washington Post. Cheap oil has been a boon for consumers in the recession, but the collapse in crude prices has contributed to further havoc in international markets from Canada to Kuwait.... More »

MORE ABOUT:
Russia • oil • Venezuela • Canada • recession • Kuwait • oil price

(Newser) - Oil approached $41 a barrel today after OPEC said it would cut its output if necessary to stabilize prices, Reuters reports. “I think we still need more action,” OPEC’s secretary-general said, promising the cuts would be more thorough than many expected, with 80% compliance among the 12-member... More »

MORE ABOUT:
OPEC • markets • oil price • crude oil • oil supply • financial crisis

 Venezuela Yanks Free Fuel for Poor Americans

Plunging price of oil forces Chavez to freeze fuel aid program

Jan 6, 09 3:07 AM CST
(Newser) - Venezuela has halted its gifts of free fuel to America's poor, the New York Times reports. The controversial foreign aid project supplied heating oil to 200,000 low-income households in 23 states and on Indian reservations, but the plunge in the price of oil has hit Venezuela hard and President... More »

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energy • Venezuela • oil price • Hugo Chávez • heating oil • Petroleos de Venezuela SA • fuel subsidy

Oil Tops $40
on Gaza Turmoil

Crude jumps 8% on violence, while OPEC waits for production cut to take hold

Dec 29, 08 6:01 AM CST
(Newser) - The price of oil jumped to $40 a barrel this morning, a gain of 8% over the previous session, as violence between Israel and Hamas threatened to destabilize crude supplies from the Middle East. Oil has been rising slightly after falling by more than $100 a barrel since July. The... More »

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Israel • Gaza • Hamas • OPEC • oil price • oil prices

Oil Prices
Reverse Monthlong Decline

Crude reaches nearly $37 after UAE's cuts

Dec 26, 08 7:44 AM CST
(Newser) - Oil prices rose today—after dropping more than 30% this month alone—as the United Arab Emirates joined Saudi Arabia in curbing crude supplies, reports Reuters. Crude oil rose as much as $1.55 a barrel, or 4.4%, to $36.90 in New York this morning. The UAE cut... More »

MORE ABOUT:
oil • OPEC • United Arab Emirates • oil price • oil production • UAE

 OPEC Prepares to Slash Output 

Saudis lead push for record cut to pump prices to $75 a barrel

Dec 17, 08 1:46 AM CST
(Newser) - OPEC ministers are expected to back the biggest reduction in oil production in the history of the cartel when they meet today, Reuters reports. The exporters widely support a cut of 2 million barrels a day. Oil prices neared $43 per barrel yesterday, down over $100 from July. Officals from... More »

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oil • Saudi Arabia • OPEC • Abdalla el Badri • oil price • oil production • oil industry

Airfares Dip
on Last-Minute
Holiday Trips

Ugly economy pushes demand down, along with price of fuel

Nov 24, 08 12:14 PM CST
(Newser) - With many consumers too concerned about their wallets to make pricey trips, airlines are, for the first time in memory, lowering prices before the holidays, the Chicago Tribune reports. The reversal of convention is allowing late buyers to scrounge tickets for as much as $200 less than travelers who locked... More »

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airline industry • air travel • holiday • airfare • oil price • discounts • financial crisis

ANALYSIS

How Cheap Gas Hurts Green Initiatives, Feds' Bottom Line

Driving less not great for gov't coffers

Nov 24, 08 9:15 AM CST
(Newser) - Americans are driving less and burning less fuel, but it could be too soon for conservation fans to celebrate. That dip, and global economic gloom, has sent oil and gas prices spiraling down, Joseph White writes in the Wall Street Journal, depriving the government of taxes it needs for transportation... More »

MORE ABOUT:
Barack Obama • conservation • gas prices • oil price • gas tax • Department of Transportation • financial crisis • gasoline prices • President Obama

 Gas Prices Plummet Below $2 

But low cost fuel isn't getting more people on the road

Nov 21, 08 5:41 AM CST
(Newser) - As crude oil sank below $50 for the first time in years, gas prices in America continued their precipitous fall, with the average cost of a gallon below $2 today for the first time since 2005. The turnabout is the sharpest since the government began tracking prices in 1980. Suddenly,... More »

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oil • gas • gas prices • oil price • gasoline prices

 World Stocks 
 Jump on China 
 Spending Spree 

Asia, Europe advance after Beijing announces $6B stimulus package

Nov 10, 08 4:43 AM CST
(Newser) - China's announcement yesterday that it would spend nearly $600 billion to stimulate its economy gave a much-needed jolt to worldwide markets today. The Nikkei in Tokyo and Hang Seng in Tokyo both gained around 6%, while European exchanges also opened higher. China's spending spree also pushed up the price of... More »

MORE ABOUT:
China • Nikkei • Hang Seng • oil price • economic stimulus package • gold prices

$100 Oil Will Return Soon Enough: Study

Price will rebound with economy, likely to hit $200 a barrel in 2030

Nov 6, 08 10:53 AM CST
(Newser) - If today’s price of $60 per barrel of oil seems too good to be true, that’s because it is. Oil prices will rebound to $100 a barrel once the economy recovers, and climb toward $200 by 2030, the market’s most comprehensive review predicts. Output is declining at... More »

MORE ABOUT:
oil • Saudi Arabia • oil price • predictions • oil supply • $100 a barrel oil • oil companies • Big Oil

OPINION

Iran Faces Its Nightmare:
Falling Oil

Suddenly negotiating is starting to look pretty smart, says Friedman

Oct 29, 08 9:24 AM CDT
(Newser) - Barack Obama's promise to negotiate with Iran once seemed like a dubious idea to Thomas Friedman—pre-conditions or not, the US had no leverage. But everything's changed now that the price of oil is at $57 and falling, writes the New York Times columnist. Once the mullahs went on a... More »

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Iran • Barack Obama • oil • Mahmoud Ahmadinejad • oil price • mullahs

 OPEC Panics as Oil Plunges 

Cartel plans emergency meeting this week to cut production

Oct 22, 08 8:33 AM CDT
(Newser) - Earlier this year the nations of OPEC were riding high as booming economic growth and tight supplies buoyed crude above $100. But now a barrel of oil is $70 and dropping fast, and frightened petroleum producers are holding an emergency meeting this week to discuss a production cut. As the... More »

MORE ABOUT:
Iran • oil • Venezuela • OPEC • recession • petroleum • oil price • oil production

Chavez's Stature Shrinks as Price of Oil Plummets

Venezuela's largesse depends on high volume, expense

Oct 20, 08 11:49 AM CDT
(Newser) - Hugo Chavez’s days as an international sugar daddy may be ending, at least for now. Chavez has made a habit of lavishing gifts on his political allies, but with crude around $70—less than half its peak price—he may not have the wealth to spread, the Christian ... More »

MORE ABOUT:
Venezuela • Nicaragua • Ecuador • oil price • Hugo Chávez • international aid • oil prices

 Oil Sinks Below $70 
 as Economy Tanks 

Price oil halves in 3 months as demand takes a dive

Oct 17, 08 2:20 AM CDT
(Newser) - Dropping demand sent a barrel of oil dipping below $70 for the first time in 14 months yesterday, the Wall Street Journal reports. Prices have dropped more than 50% in three months—a sign of a deeply troubled economy, but one that could help the world recover as companies that... More »

MORE ABOUT:
oil • recession • global economy • US economy • oil price • oil prices • financial crisis

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