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October 10, 2008 7:27:23 PM CDT

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Stories related to: crude oil

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  • May 2008

    • 'Super-Spike' Could Drive Oil to $200

      Wall Street Journal  |  May 7, 08 8:35 AM CDT

      'Super-Spike' Could Drive Oil to $200

      (Newser) - A “super-spike” could push oil beyond $150 a barrel by October, the highest it been in more than 135 years, experts say. That would drive the price at the pump past $4.50 a gallon and trim US economic output 3.3% in the 2 years following, reports the Wall Street Journal. Crude sold for a record $121.84 yesterday, up 96% from a year ago. More »

      Tags

      gas prices  • oil price  • oil  • crude oil  • electricity  • oil supply

  • April 2008

    • OPEC Head Warns Oil Could Hit $200 a Barrel

      Daily Telegraph (UK)  |  Apr 29, 08 5:26 AM CDT

      OPEC Head Warns Oil Could Hit $200 a Barrel

      (Newser) - The president of the oil-producing cartel OPEC has warned that the price of the black gold could spike as high as $200 a barrel. As crude hovered just below the $120 barrier, Chakib Khelil told an Algerian newspaper that disruptions in production in Britain and Nigeria, coupled with a weak dollar and investor speculation, will keep prices rising. More »

      Tags

      oil  • crude oil  • OPEC  • oil production

    • AmEx Leads Dow Rally

      Bloomberg  |  Apr 25, 08 3:39 PM CDT

      AmEx Leads Dow Rally

      (Newser) - Stocks were mixed today as financials rallied but Microsoft dragged down the tech sector.  Nevertheless, all three major indexes recorded back-to-back weekly gains for the first time since February, Bloomberg reports. The Dow closed up 42.91 at 12,891.86, the Nasdaq dipped 5.99 to 2,422.93, and the S&P 500 rose 9.02 to 1.397.84. More »

      Tags

      Microsoft  • Dow Jones  • S&P 500  • Nasdaq  • crude oil  • Nigeria  • Persian Gulf

    • Consumer Prices Rise in March; Oil Blasts Past $114

      Associated Press  |  Apr 16, 08 10:22 AM CDT

      Consumer Prices Rise in March; Oil Blasts Past $114

      (Newser) - Consumer prices rose an anticipated 0.3% in March, propelled by hikes in the costs of energy, food, and airline tickets; a commodities rush and weak dollar also pushed crude oil to a record high today. Energy costs rose 1.9% in March, the AP reports, and the past year has seen huge increases in the prices of bread (14.7%) and milk (13.3%) More »

      Tags

      US dollar  • crude oil  • euro  • milk  • Consumer Price Index  • bread

    • Oil Tops Record High $113

      AFP  |  Apr 15, 08 6:44 AM CDT

      Oil Tops Record High $113

      (Newser) - Crude oil hit a new record high in trading today—$113.66 a barrel—as weary investors attempted to hedge against a tumbling dollar and oil shipments were disrupted around the world. Though the dollar is the main concern, supply problems, including OPEC's decision not to change its 2008 outlook and the closure of a top Mexican export terminal, didn't help, the AFP reports. More »

      Tags

      oil price  • US dollar  • crude oil  • Wachovia  • weak dollar  • $100 a barrel oil

    • Agency Cuts Oil-Demand Forecast

      Wall Street Journal  |  Apr 11, 08 10:21 AM CDT

      Agency Cuts Oil-Demand Forecast

      (Newser) - The projected growth in the demand for oil worldwide is at its lowest level since the Sept. 11 terrorist attacks, but don't expect any any price relief, reports the Wall Street Journal . The IEA pegs projected growth at 1.3 million barrels a day, down 35% from its projection in  January. But even though the US and Europe will use less, booming nations such as India and China need more, which means OPEC can hold prices steady. More »

      Tags

      crude oil  • OPEC  • world economy  • IEA

    • Stocks Fall as Oil Prices Surge

      Wall Street Journal  |  Apr 9, 08 3:45 PM CDT

      Stocks Fall as Oil Prices Surge

      (Newser) - Stocks fell today on bad news on earnings and record prices for crude oil. American Express, General Motors, and UPS all took hits. "The negative UPS news could shake confidence in the broader transport stocks," an analyst tells the Wall Street Journal . The Dow ended down 49.18 to 12527.26, the Nasdaq 26.64 to 2322.12, and the S&P 11.05 to 1354.49. More »

      Tags

      stock market  • General Motors  • crude oil  • American Express

    • Oil Expected to Stay Above $100 This Year

      Wall Street Journal  |  Apr 9, 08 6:43 AM CDT

      Oil Expected to Stay Above $100 This Year

      (Newser) - A barrel of crude could end up averaging more than $100 this year, federal handicappers are predicting, just weeks after the triple-digit mark seemed like a troublesome anomaly. OPEC’s parsimony with its reserves, spiking demand worldwide and a dwindling supply outside the Middle East are conspiring to squeeze rates—and last month’s record close of $110.33 might not be the worst of it. More »

      Tags

      energy  • crude oil  • OPEC  • oil companies  • oil crisis  • Energy Information Administration

  • March 2008

    • Oil Hovers Near $102 a Barrel

      Associated Press  |  Mar 26, 08 6:16 AM CDT

      Oil Hovers Near $102 a Barrel

      (Newser) - Concern about potential supply disruptions in Iraq and American gasoline reserves pushed oil prices up for the second day in a row, despite expected news from the Energy Department that crude supplies in the US had rebounded, reports the Associated Press. The US dollar’s continued depreciation against a slew of currencies also helped inflate the price. More »

      Tags

      oil price  • inflation  • crude oil  • weak dollar  • oil supply

    • Dow Slides 293 Points

      Wall Street Journal  |  Mar 19, 08 3:44 PM CDT

      Dow Slides 293 Points

      (Newser) - Stocks slid fast today as commodity prices plunged. Investors rebalanced their portfolios after pumping cash into commodities such as gold and oil for insurance against seesawing stocks, the Wall Street Journal reports. The Dow ended down 293 points to 12,099.66, the Nasdaq 58.3 to 2,209.96, and the S&P 32.2 to 1,298.54. More »

      Tags

      stock market  • crude oil  • gold

    • Stocks Rally, Flatten, End Down

      Wall Street Journal  |  Mar 12, 08 3:38 PM CDT

      Stocks Rally, Flatten, End Down

      (Newser) - Markets shot up early today, then flattened out and ended down as record oil and gas prices put a damper on things. Per-barrel oil prices hit $110.20 before landing at $109.92, the Wall Street Journal reports. The Dow ended down 46.57 to 12,110.24, the Nasdaq 11.89 to 2,243.87 and the S&P 11.88 to 1,308.77. More »

      Tags

      stock market  • Federal Reserve  • interest rate  • crude oil  • commodities

    • Oil Gushes to Record $105.96

      Bloomberg  |  Mar 6, 08 8:32 AM CST

      Oil Gushes to Record $105.96

      (Newser) - An ever-weakening dollar, an unexpected drop in US crude oil reserves, and a Wednesday OPEC decision not to boost production helped spur oil to a record $105.96 a barrel, Bloomberg reports. It's the third record this week, and the dollar’s $1.5345 against the euro is the lowest level its reached since the euro was introduced in 1999. More »

      Tags

      oil price  • oil  • crude oil  • OPEC  • euro  • weak dollar  • $100 a barrel oil

    • Oil Up, Dollar Down, Stocks Stall

      Reuters  |  Mar 3, 08 3:55 PM CST

      Oil Up, Dollar Down, Stocks Stall

      (Newser) - Rising commodities prices partially offset bad news about manufacturing activity, the plunging dollar, and record crude oil prices to create a plateau on Wall Street today. The Dow ended down 7.49 at 12,258.90, the Nasdaq down 12.88 at 2,258.60, and the S&P 500 barely up, 0.71 to 1331.34. "There's not a single stitch of good news out there," an asset manager told Reuters. More »

      Tags

      oil  • crude oil  • commodities

  • February 2008

    • Dollar's Slide Pushing Oil Prices Higher

      Bloomberg  |  Feb 29, 08 7:21 AM CST

      Dollar's Slide Pushing Oil Prices Higher

      (Newser) - The dollar continued its fall as unrelentingly dismal economic data eroded confidence in the US economy, Bloomberg reports. The greenback set a new low of $1.52 against the euro this morning and hit a three-year bottom against the Japanese yen. Oil surged more than $2 a barrel to $103.05 in Asian trading before closing at $102.92.  More »

      Tags

      US economy  • recession  • gas prices  • oil  • US dollar  • crude oil  • euro  • yen

    • Oil Insanity Pinned to Speculators

      Der Spiegel  |  Feb 28, 08 5:54 PM CST

      Oil Insanity Pinned to Speculators

      (Newser) - Crude-oil prices have doubled in recent months, a development not linked to fundamental supply and demand—but rather, observers tell Der Spiegel , to rampant speculation among investors look