Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook
Malaysia Busts 80+ Lovers in Valentine's Day Raids Muslims face up to two years in jail »

NEWS ABOUT: oil price

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

Offshore Drilling Issue May Backfire on McCain

He could make key enemies of Florida and California

(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 »

Stocks Mixed as Oil Pulls Back

Techs climb; yardsticks swing between red and black

(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 »

Saudis Bumping Oil Flow 2% to Slow Soaring Prices

July increase adds 200,000 barrels a day to pipeline

(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 »

Saudis to Boost Oil Output to Record Level

Kingdom aims to stabilize prices to protect oil market

(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 »

Stocks Rally on Dollar's Strength

Drop in oil, strong greenback pushes Dow to weekly gains

(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 »

Oil Price Spike Brings Jobs Back to US

Rising costs curb manufacturers' outsourcing

(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 »

As Prices Soar, Congress Aims at Speculators

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

(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 »

Oil Reversal Stymies Rally

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

(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 »

United Adopts $15 Checked-Bag Charge

Carrier joins American; industry passing oil costs to consumer

(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 »

Stories 61 - 80 | << Prev   Next >>
NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne