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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: oil price

oil price stories: 186 news summaries

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OPINION

Washington's War Drums Beating Loudly

Amid US, Israeli, Iran saber-rattling, 'all options on the table'

Jul 3, 08 10:25 AM CDT
(Newser) - Is Washington, or its Israeli allies, really ready to attack Iran? "The threats, counterthreats, and counter-counterthreats … have reached new levels of hysteria in recent days," Dana Milbank writes in the Washington Post. Rumblings of an Israeli strike prompted Tehran threats to close oil-shipping lanes. That would be... More »

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Iran • Bush administration • Israel • Joint Chiefs of Staff • Adm. Mike Mullen • oil price • Iran war • Liz Cheney

 Oil Gushes Past $145 

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

Jul 3, 08 7:07 AM CDT
(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... More »

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Iran • interest rate • oil price • weak dollar • oil supply

 Dow Enters Bear Market 

Nasdaq also falls more than 20% from its high

Jul 2, 08 3:33 PM CDT
(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... More »

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Dow Jones • General Motors • employment • Nasdaq • bear market • oil price • crude oil • S&P 500

MARKETS

 Mixed Results Cap Ugly June 

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

Jun 30, 08 3:39 PM CDT
(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,... More »

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stock market • oil price

 Gas Prices Screw Nev. Brothels 

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

Jun 30, 08 11:00 AM CDT
(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... More »

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diesel • Nevada • truckers • oil price • brothel

 What if Oil Hits $200? 

Inflation would skyrocket as American society reorganizes

Jun 28, 08 3:35 PM CDT
(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... More »

MORE ABOUT:
inflation • oil • commute • oil price • $100 a barrel oil

MARKETS

 $142 Oil Drives Stocks Down 

New crude record hampers recovery from Thursday's fall

Jun 27, 08 3:29 PM CDT
(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... More »

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NASDAQ • Dow Jones • AIG • oil price • crude oil • S&P 500 • financial stocks

Oil Breaks Record,
Climbs Above $141

Weak dollar sends investors into crude

Jun 27, 08 7:27 AM CDT
(AP) - 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... More »

MORE ABOUT:
oil • broken records • oil price • crude oil

MARKETS

 'Difficult' Dow Ends Down 358 

Oil surges past $140 as dollar weakens, financials downgraded

Jun 26, 08 3:37 PM CDT
(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,... More »

MORE ABOUT:
inflation • Goldman Sachs • Federal Reserve • Dow Jones • Wachovia • Nasdaq • oil price • S&P 500

MARKETS

 Big Rally Ends in Modest Gains  

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

Jun 25, 08 3:36 PM CDT
(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... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • Dow Jones • Nasdaq • interest rate • oil price • S&P 500

MARKETS

 Stocks Stall, Finish Mixed  

Investors are cautious ahead of Fed meeting

Jun 23, 08 3:30 PM CDT
(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,... More »

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stock market • General Motors • oil price

Saudis May Boost Oil Supply Even Higher

But OPEC blames speculators and credit crisis for high prices

Jun 22, 08 4:11 PM CDT
(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... More »

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oil • Saudi Arabia • OPEC • oil price • oil production • foreign oil • oil companies • oil crisis • oil industry

Nigerian Youths Blow Up Oil Pipeline

Chevron output diminished by 120K barrels per day

Jun 22, 08 3:19 PM CDT
(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... More »

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oil • Chevron • Nigeria • Niger Delta • oil price • pipelines

OPINION

Oil-Addicted Bush
Must Kick the Habit

High fuel prices offer chance to change our ways

Jun 22, 08 6:32 AM CDT
(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... More »

MORE ABOUT:
Congress • oil • alternative energy • gas prices • oil price • energy dependence • oil drilling • George W. Bush • energy independence

analysis

Houston All Smiles While
US Economy Sinks

Soaring oil prices keep the money and jobs flowing

Jun 21, 08 6:15 PM CDT
(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... More »

MORE ABOUT:
Houston • oil price

MARKETS

 Dow Plummets to Below 12,000 

An oil boost and continued financial woes batter the markets

Jun 20, 08 3:34 PM CDT
(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... More »

MORE ABOUT:
Iran • Israel • Dow Jones • Nasdaq • MBIA • oil price • Moody's • Ambac Financial • S&P 500 • Ambac • financial crisis

OPINION

 Make Lawsuits, 
 Not War, 
 Over OPEC Oil  

President, states have standing in attempt to cap gushing prices

Jun 19, 08 5:23 PM CDT
(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... More »

MORE ABOUT:
OPEC • oil price • US Supreme Court • separation of powers

MARKETS

 Citi's Blahs Make Little Dent 

Drop in oil prices help stocks finish slightly higher

Jun 19, 08 3:38 PM CDT
(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... More »

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Citigroup • Dow Jones • Bear Stearns • financial markets • Nasdaq • credit crisis • oil price • S&P 500

 China Jacks Up Energy Prices  

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

Jun 19, 08 1:13 PM CDT
(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... More »

MORE ABOUT:
China • gas • diesel • oil price • fuel costs • fuel consumption • fuel subsidy

At Last, US Gas Consumption Starts to Fall

High prices, economic crash cause first decline in 17 years

Jun 19, 08 8:07 AM CDT
(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... More »

MORE ABOUT:
gas • United States • gas prices • oil price • energy consumption

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