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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: oil price

oil price stories: 186 news summaries

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Opinion

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

Why prices will keep
rising, and what
that will mean

Jun 18, 08 12:09 PM CDT
(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... More »

MORE ABOUT:
energy • oil • biofuel • gas prices • oil price • oil drilling • peak oil

OPINION

 Offshore Drilling
 Issue May
 Backfire on McCain 

He could make key enemies of Florida and California

Jun 18, 08 3:46 AM CDT
(Newser) - John McCain is making a risky bet with his call to end a ban on offshore drilling, Charles Mahtesian and David Mark write in Politico. Polls show a clear majority of Americans are in favor of lifting the ban—but the candidate risks tapping a geyser of resentment in California... More »

MORE ABOUT:
Florida • John McCain • California • oil field • oil price • oil drilling • McCain 2008

MARKETS

 Stocks Mixed as Oil Pulls Back 

Techs climb; yardsticks swing between red and black

Jun 16, 08 3:22 PM CDT
(Newser) - Stocks ended mixed today as oil prices pulled back after hitting a high of nearly $140 a barrel. Investors are still concerned about economic instability, but many have already abandoned financials, reports the Wall Street Journal. The Dow ended down 38.27 at 12,269.08, the Nasdaq up 20.... More »

MORE ABOUT:
stock market • oil price • financial sector

Saudis Bumping Oil Flow
2% to Slow Soaring Prices

July increase adds 200,000 barrels a day to pipeline

Jun 16, 08 7:02 AM CDT
(Newser) - Saudi Arabia, worried soaring prices could weaken the world's appetite for oil, will increase production by 200,000 barrels a day, beginning next month, the Saudi oil minister told UN chief Ban Ki-moon in a meeting yesterday. The move follows a May increase of 300,000 barrels, the AP notes. More »

MORE ABOUT:
United Nations • Saudi Arabia • OPEC • oil price • oil production

Saudis to Boost Oil Output to Record Level

Kingdom aims to stabilize prices to protect oil market

Jun 14, 08 6:14 AM CDT
(Newser) - Saudi Arabia aims to put the brakes on oil prices by raising output to its highest ever, the New York Times reports. The kingdom resisted calls from President Bush earlier this year to boost production, but is now concerned that record oil prices could lead to lower demand in the... More »

MORE ABOUT:
oil • Saudi Arabia • King Abdullah • OPEC • oil price • oil production

MARKETS

 Stocks Rally on Dollar's Strength 

Drop in oil, strong greenback pushes Dow to weekly gains

Jun 13, 08 3:14 PM CDT
(Newser) - The markets rallied today, pushing the Dow into positive territory for the week, off a strong dollar and a drop in oil prices. The Dow gained 165.77 to close at 12,307.35, a weekly gain of 0.8%. The Nasdaq climbed 50.15 to 2,454.50 but... More »

MORE ABOUT:
Dow Jones • Consumer Price Index • core inflation • Nasdaq • oil price • US dollar • S&P 500

 Oil Price Spike
 Brings Jobs Back to US 

Rising costs curb manufacturers' outsourcing

Jun 13, 08 11:30 AM CDT
(Newser) - As costs for overseas production and shipping soar, US companies are growing reluctant to outsource manufacturing—and some are even bringing their plants back to America, the Wall Street Journal reports. “In a world of triple-digit oil prices, distance costs money," said an economist. But it’s not... More »

MORE ABOUT:
outsourcing • factory • manufacturing • oil price • job market • transport • job

As Prices Soar, Congress Aims at Speculators

Out-of-control traders may be driving up oil, food costs, pols say

Jun 13, 08 8:30 AM CDT
(Newser) - Congress is blaming rampant commodity speculation for rocketing gas and food prices, and berating regulators for letting it happen, the New York Times reports. Unless watchdog groups like the Commodities Futures Trading Commision crack down, Carl Levin says, "we don’t have a cop on the beat.." Joe... More »

MORE ABOUT:
Congress • Carl Levin • food prices • oil price • Commodity Futures Trading Commission • New York Mercantile Exchange • commodities • commodities exchange • speculation • Joseph Lieberman • speculators

MARKETS

 Oil Reversal Stymies Rally 

Market ends up 57 points, down from 185-point rally

Jun 12, 08 3:45 PM CDT
(Newser) - A stock rally lost steam after oil reversed an early decline and finished up slightly at $136.74 a barrel, Marketwatch reports. Investors had earlier turned bullish on an unexpectedly strong retail report and crude prices of $131.55. The Dow ended up 57.81 points, at 12,141.58,... More »

MORE ABOUT:
stock market • Dow Jones • Nasdaq • retail sales • oil price • Benchmark crude futures • S&P 500

 United Adopts $15
 Checked-Bag Charge

Carrier joins American; industry passing oil costs to consumer

Jun 12, 08 11:02 AM CDT
(AP) - United Airlines will follow rival American Airlines in charging $15 for a first checked bag. The new fee was announced today, 3 weeks after American set the precedent. United says the fee affects customers who buy tickets beginning tomorrow for domestic flights Aug. 18 or later. More »

MORE ABOUT:
airline industry • United Airlines • luggage • airline • American Airlines • oil price • surcharge • fees • fuel costs

MARKETS

 Oil Drives Uneven Finish 

Bernanke comments spark inflation worries, perk up dollar

Jun 10, 08 3:47 PM CDT
(Newser) - The markets ended mixed after moving between gains and losses, as traders tracked gyrations in the price of oil—which finished down 2% from earlier highs of $137 a barrel, MarketWatch reports. The Dow gained 9.44 to end at 12,289.76. The Nasdaq lost 10.52 to settle... More »

MORE ABOUT:
Ben Bernanke • Dow Jones • Nasdaq • oil price • US dollar • S&P 500

ANALYSIS

 McCain Pays Price
 of Soaring Gas 

Voters giving issue ever-more importance; holding Mac responsible for Bush

Jun 10, 08 2:13 PM CDT
(Newser) - The party in power always suffers during an election year in which the economy is poor, and high gas prices are often the biggest barb. John McCain is suffering the most from high prices at the pump, a Politico analysis of Gallup polls show, with voters putting him behind the... More »

MORE ABOUT:
John McCain • oil • gas prices • oil price • presidential frontrunners • presidential election

Analysts Say Oil Price Drop Is Long Way Off

Declining Asian demand could bring relief ... by early '09

Jun 9, 08 10:25 AM CDT
(Newser) - A reining-in of Asia’s demand for oil could help the global crude supply rebound, eventually dropping prices sharply, analysts tell Reuters. But the price relief likely won’t show up until the end of this year or early next, as data needed to help traders set prices is slow... More »

MORE ABOUT:
Asian markets • gas prices • oil price • crude oil • oil production

Oil Prices Threaten
US-Saudi Relations

Washington loses leverage as Beijing gains clout with Riyadh

Jun 8, 08 6:46 AM CDT
(Newser) - The weakening dollar and rising oil prices are marring more than just the American economy: It’s also eroding the long-standing friendly relationship between the US and Saudi Arabia, the Los Angeles Times reports. A bleak economic outlook has cost the US clout with its oil-producing ally. “There’... More »

MORE ABOUT:
China • Saudi Arabia • Asia • OPEC • United States • oil price • oil production • George W. Bush

MARKETS

 Dow Plummets Almost 400 

Weekly loss of 3.5% off jobs, crude

Jun 6, 08 3:22 PM CDT
(Newser) - The markets took huge losses today, battered by $139 oil and the worst unemployment report in 4 years, MarketWatch reports. The Dow fell 394.64 to close at 12,209.81, and down 3.5% for the week. The Nasdaq fell 75.38 to 2,474.56, a 1.9%... More »

MORE ABOUT:
Intel • Dow Jones • Nasdaq • AIG • oil price • S&P 500

 Diesel Thieves Plague Farmers 

Irrigation systems are also caches of diesel fuel

Jun 6, 08 2:33 PM CDT
(Newser) - With oil prices stuck in triple digits, any form of gas is becoming precious booty for thieves, CNN reports. The latest targets: farmers running diesel-fueled irrigation pumps. Fuel tanks, often sitting unguarded in fields, can be a quick score of around 250 gallons in the middle of the night. In... More »

MORE ABOUT:
oil • theft • thief • diesel • gas prices • farmer • oil price • farm

As Oil Spikes, Airlines Rethink Business Model

Expect to pay more for less as 'cheap and plentiful' era ends

Jun 6, 08 8:40 AM CDT
(Newser) - In the 30 years since Congress deregulated airline travel, the country's major carriers have operated on a bigger-is-better strategy: fly more planes to more routes and you'll come out on top. But with fuel twice as expensive as a year ago, airlines are not just raising prices, they're radically changing... More »

MORE ABOUT:
oil • airline industry • airline • oil price • fuel costs • deregulation

 Analysts See Oil Bust Ahead 

Stronger dollar, other factors will take air out of 'classic' bubble

Jun 4, 08 12:56 PM CDT
(Newser) - The oil price surge is just like the dot-com boom, analysts at Lehman Brothers tell the Wall Street Journal, and costs will sharply decline once the US dollar strengthens and demand dips in certain countries. Lehman claims oil is experiencing the "classic ingredients of an asset bubble," and... More »

MORE ABOUT:
Russia • Venezuela • Mexico • Lehman Brothers • oil price • crude oil • oil bubble • speculators

Storm Warning:
Hurricanes May
Drive Gas to $6

Disruptive Atlantic season could upset already dicey market

Jun 2, 08 12:39 PM CDT
(Newser) - This year’s hurricane season—which started yesterday—could spawn a dozen or more named storms, potentially disrupting flow of gasoline across the nation and pushing gas prices beyond $5 or even $6 a gallon, reports CNNMoney. Traders already appear to be including a hurricane premium of 10 cents per... More »

MORE ABOUT:
Hurricane Katrina • hurricane season • gas prices • oil refineries • oil price • Katrina aftermath

MARKETS

 Mixed Day Yields Mixed Results 

Dell performance rallies tech; Commerce Department gives bad news

May 30, 08 3:30 PM CDT
(Newser) - Stocks ended mixed after a seesaw session today, with strong performance by tech and energy shares contrasting with bad news on consumer spending and incomes, MarketWatch reports. The Dow closed down 7.90 at 12,638.32. The Nasdaq gained 14.34 to 2,522.66, while the S&P... More »

MORE ABOUT:
technology • inflation • Dell • Dow Jones • Nasdaq • oil price • commodities • computer • S&P 500

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