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October 7, 2008 6:51:31 PM CDT

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Stories related to: crude oil

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Stories 41 - 60 of 65

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  • January 2008

    • Traders Gamble on $200 Oil

      Bloomberg  |  Jan 8, 08 6:24 AM CST

      Traders Gamble on $200 Oil

      (Newser) - You thought $100 a barrel was high. Options to buy oil for $200 a barrel have grown tenfold on the Nymex exchange in recent weeks, Bloomberg reports. Speculators use oil futures to bet on expected price hikes. While $200-a-barrel options remain only a small proportion of the total, the number has been going up as traders gamble that events could cause oil prices to climb even higher than record highs. More »

      Tags

      oil price  • crude oil  • oil production  • $100 a barrel oil  • futures market

    • $200 Oil on Horizon: Economists

      Der Spiegel  |  Jan 3, 08 3:13 PM CST

      $200 Oil on Horizon: Economists

      (Newser) - The price of oil could surge to $150 in five years and $200 in 10 years, a prominent German economic institute reports. "Oil supplies are becoming increasingly scarce and that will continue to drive up prices," said one energy expert. Oil prices hit $100 yesterday for the first time, and continue to hover near the triple-digit mark in today's trading. More »

      Tags

      Germany  • oil price  • oil  • energy  • crude oil  • weak dollar  • $100 a barrel oil

  • December 2007

    • 2008 Forecast: Oil Prices Dip as Supply Rises, Economy Slows

      Christian Science Monitor  |  Dec 26, 07 8:28 AM CST

      2008 Forecast: Oil Prices Dip as Supply Rises, Economy Slows

      (Newser) - A slowing US economy and rising oil production will lower the price of crude to between $80 and $85 a barrel in 2008, predicts the Christian Science Monitor . While still higher than the $71 average for 2007, it’s a drop from current prices near $93. Lower prices could ease inflation worries in the US, experts say. More »

      Tags

      gas prices  • oil price  • crude oil

    • Oil Slips Under $88 as US Economy Fuels Concern

      Associated Press  |  Dec 10, 07 6:26 AM CST

      Oil Slips Under $88 as US Economy Fuels Concern

      (Newser) - Weaker than anticipated US job growth reported Friday helped extend a decline in crude oil prices today, with futures dipping below $88 on Asian markets, reports the AP. Fears of a slowing economy and reduced demand are driving the decline. Investors had bet better employment figures would prompt the Fed to cut rates a half point, rather than an anticipated quarter point, when they meet tomorrow, continuing to weaken the dollar and strengthen oil prices. More »

      Tags

      gas prices  • oil price  • oil  • crude oil  • unemployment

    • OPEC Declines to Boost Oil Output

      New York Times  |  Dec 6, 07 10:33 AM CST

      OPEC Declines to Boost Oil Output

      (Newser) - OPEC’s decision yesterday not to boost oil production, despite prices hovering around $90 a barrel, underscores a new reality, the New York Times observes: the oil producers aim to keep prices nearly that high—say around $80 a barrel—a target unthinkable a few years ago. In the US, it means $3 a gallon at the gas pump isn’t going away any time soon. More »

      Tags

      Iran  • gas prices  • oil  • Saudi Arabia  • Venezuela  • crude oil  • OPEC  • Qatar

  • November 2007

    • Oil-Price Surge Fuels Global Investing Binge

      New York Times  |  Nov 28, 07 2:18 PM CST

      Oil-Price Surge Fuels Global Investing Binge

      (Newser) - Petrodollars have fueled an investing binge in companies ranging from chipmaker AMD to private-equity giant Carlyle Group to Citigroup. And, with nearly $5 billion in oil revenue gushing weekly into Persian Gulf nations, the spree won’t likely slow, the New York Times reports. “The oil-producing countries simply cannot absorb the amount of wealth they are generating,” one observer said. More »

      Tags

      oil price  • oil  • crude oil  • OPEC  • Abu Dhabi  • Dubai  • petrodollar

    • All Eyes on OPEC for Oil Price Relief

      Wall Street Journal  |  Nov 26, 07 4:18 AM CST

      All Eyes on OPEC for Oil Price Relief

      (Newser) - With oil prices poised to pass the $100 mark any day now, a pair of reports speculates that OPEC will cool the overheated market by boosting oil production, the Wall Street Journal reports. One consulting firm said OPEC, spurred by Saudi Arabia’s increased deliveries to the US, could up output by as much as 720,000 barrels a day. More »

      Tags

      Iraq  • Iran  • United States  • oil price  • oil  • Saudi Arabia  • crude oil  • OPEC  • Abu Dhabi  • New York Mercantile Exchange

    • Oil Tops $99 as Dollar Sinks

      Reuters  |  Nov 21, 07 4:05 AM CST

      Oil Tops $99 as Dollar Sinks

      (Newser) - The price of oil hit a record high mere pennies from $100 a barrel and the dollar sunk to a new low in early trading today. Oil hit $99.29 but slipped back to $98.64. With cold weather hitting the US, and OPEC supplies limited, some analysts think oil prices could hit the $100- a-barrel milestone as early as today. The continued drop in the dollar against other currencies is helping fuel the rise. More »

      Tags

      oil price  • oil  • US dollar  • crude oil  • OPEC  • euro  • commodities

    • Oil Drops to $91 as Rush to $100 Stalls

      Wall Street Journal  |  Nov 14, 07 7:37 AM CST

      Oil Drops to $91 as Rush to $100 Stalls

      (Newser) - After gushing toward $100 a barrel, oil traded as low as $90.13 yesterday, closing at $91.17. Analysts said the downward pressure could continue as demand for oil slows and OPEC increases production, reports the Wall Street Journal. Saudi Arabia's oil minister, meanwhile, told the Globe and Mail that prices have been jacked up by speculation and should be near $60. More »

      Tags

      oil price  • Saudi Arabia  • crude oil  • OPEC  • solar energy

    • US Crude Eases Below $96

      Reuters  |  Nov 12, 07 7:52 AM CST

      US Crude Eases Below $96

      (Newser) - Oil prices paused in their headlong rush to $100 a barrel today on news from the Saudis that OPEC will discuss raising output when the group's heads of state and oil ministers meet in Riyadh this week. US crude, which reached a record $98.62 Nov. 7, traded below $96 this morning. North Sea crude rose slightly after a militant attack on Nigerian facilities and storm-related production issues. More »

      Tags

      gas prices  • oil price  • oil  • crude oil  • OPEC

    • Big Industries Joust Over Energy Prices

      Wall Street Journal  |  Nov 8, 07 2:18 PM CST

      Big Industries Joust Over Energy Prices

      (Newser) - US industries are at each other’s throats over energy policy as each sector tries to protect its own interests. A prime example came last year, when Dow Chemical's push for tougher automobile fuel-economy standards—which would help keep a lid on Dow's oil expenditures—ran afoul of automakers, who stand to suffer from such legislation and are huge Dow clients. More »

      Tags

      climate change  • oil price  • auto industry  • crude oil  • ethanol  • vehicle emissions  • biodiesel  • Dow Chemical Co.

    • Soaring Oil Prices Create New Winners, Losers

      New York Times  |  Nov 7, 07 6:51 PM CST

      Soaring Oil Prices Create New Winners, Losers

      (Newser) - With oil prices inching toward the $100-a-barrel mark, the New York Times looks at how soaring prices are redrawing the world's power grid: from oil-rich nations swimming in cash to oil-importing nations "clawing at each other to lock up scarce supplies."  In Venezuela, oil is funding a socialist revolution; in Russia and Norway, it's fueling mammoth new investment funds that could have huge impact on world markets. More »

      Tags

      gas prices  • crude oil

    • Oil May Break $100 Barrier This Week

      Wall Street Journal  |  Nov 5, 07 3:37 AM CST

      Oil May Break $100 Barrier This Week

      (Newser) - With oil prices poised to break $100 a barrel this week, potentially punching through the inflation-adjusted record of $101.70 in 1980, speculation shifts to how long it will stay there. The steep rise—27% in 3 months—could set the stage for a dramatic fall. "We probably are headed to a hundred bucks, but I would expect a violent correction very soon,"  one broker tells the Wall Street Journal . More »