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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: crude oil

crude oil stories: 78 news summaries

1 - 20 of 78 Stories | 1 2 3 4 Next >>

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movie review

 Crude Makes 
 Compelling 
 Case Against 
 Big Oil 

Doc tells of disastrous effects of oil extraction

Sep 11, 09 1:11 PM CDT
(Newser) - Crude is a hard-hitting documentary about the ravages of the oil industry—Chevron is the villain here—on indigenous people in Ecuador. Critics are wowed:
  • “Here’s a powerhouse of a documentary that makes you feel mad as hell and unwilling to take it anymore,” writes Peter
... More »

MORE ABOUT:
oil • film • Chevron • movie review • documentary • crude oil • Joe Berlinger

Joe Kennedy's Links to Chávez Could Hobble Senate Bid

Venezuelan oil funds Joe II's charity

Sep 6, 09 4:10 PM CDT
(Newser) - Joe Kennedy II’s chance of winning his uncle’s Senate seat may be complicated by his ties Hugo Chávez, the Boston Herald reports. Joe II’s Citizens Energy charity, which delivers oil to needy US households, is almost completely dependent on the Venezuelan leader’s largesse. Over the... More »

MORE ABOUT:
Venezuela • Ted Kennedy • Massachusetts • Joe Kennedy • crude oil • Hugo Chávez

Rogue Trader Shocks
Oil Market

Crude hits highest
level in a year on unauthorized trades

Jul 3, 09 7:20 AM CDT
(Newser) - On Tuesday, the price of oil spiked unexpectedly to its highest level in 2009—a barrel of crude jumped from $71 to $73.50 in just one hour, for no apparent reason. Yesterday the reason became clear: a rogue broker in London with PVM, the world's largest petroleum brokerage, had... More »

MORE ABOUT:
oil • petroleum • oil price • crude oil • rogue trader • oil futures

(Newser) - It’s been 20 years to the day since the Exxon Valdez dumped about 11 million gallons of crude oil into Alaska’s Prince William Sound, and the area has still not recovered. Oil, particularly below the surface, persists, and marine animal populations have not recovered. Still, Time reports, the... More »

MORE ABOUT:
environment • Alaska • crude oil • Exxon Valdez • Prince William Sound • ecosystem • commercial fishing

 Oil Slips Below $35 a Barrel 

Prices drop almost 8%; stocks down early on Wall Street

Feb 17, 09 11:47 AM CST
(AP) - A new batch of lousy economic news dragged oil prices down nearly 8% today as signs from across the globe pointed to a prolonged and painful recession. Light, sweet crude for March delivery fell $2.87 to $34.64 a barrel on the New York Mercantile Exchange after settling at... More »

MORE ABOUT:
stock market • Wall Street • global market • crude oil • economic stimulus package • oil prices

(Newser) - Oil approached $41 a barrel today after OPEC said it would cut its output if necessary to stabilize prices, Reuters reports. “I think we still need more action,” OPEC’s secretary-general said, promising the cuts would be more thorough than many expected, with 80% compliance among the 12-member... More »

MORE ABOUT:
OPEC • markets • oil price • crude oil • oil supply • financial crisis

MARKETS

 Dow Gains 49 Before Holiday 


Dec 24, 08 12:34 PM CST
(Newser) - Stocks posted modest gains today amid light holiday trading, the Wall Street Journal reports. Drops were reported in orders for durable goods and consumer spending, but they were smaller than expected. The Dow closed up 48.99 points at 8,468. The Nasdaq gained 3.36 points to settle at... More »

MORE ABOUT:
Dow Jones • durable goods • Nasdaq • consumer spending • crude oil • S&P 500

(Newser) - OPEC has approved a cut in output of 2.2 million barrels of crude a day, the largest reduction ever, MSNBC reports. The consortium believes that stabilizing prices now by decreasing supply will guard against a price spike when consumer confidence increases. OPEC’s monthly report predicts that demand will... More »

MORE ABOUT:
OPEC • recession • crude oil • oil production • oil prices • gasoline prices • economic downturn • reduction

Oil Prices Plunge
to 5-Year Low 

OPEC expected to slash production to push up prices

Dec 5, 08 2:43 AM CST
(Newser) - Oil prices continue to plunge as demand slackens amid the global economic downturn. Oil has dropped 19% drop this week, the biggest weekly decline in five years, reports Bloomberg. Prices have tumbled 70% since reaching a record $147.27 in July, and  some predict prices may dip as low as... More »

MORE ABOUT:
OPEC • recession • National Bureau of Economic Research • crude oil • gold • New York Mercantile Exchange • commodities • copper • oil prices

 Islamic Militants 
 Vow to Take on 
 Tanker Pirates 

Promise to protect 'Muslim property'

Nov 23, 08 8:38 AM CST
(Newser) - Islamic militants have vowed to liberate a Saudi oil tanker seized a week ago by pirates off the Somali coast, reports CNN. Five armored vehicles arrived in the nearby Somali town of Harardhere filled with al-Shebab fighters, who told residents they would battle the pirates because the tanker, carrying $100... More »

MORE ABOUT:
Somalia • oil • Saudi Arabia • piracy • crude oil • pirates • al-shebab

 Pirates Hijack Saudi Oil Tanker 

Ship loaded with oil is taken to Somalian port

Nov 17, 08 11:36 AM CST
(Newser) - Pirates flying the Liberian flag hijacked a Saudi Arabian oil tanker today, the BBC reports. The Sirius Star is now bound for the port of Eyl, Somalia, a common destination for pirates to unload their booty. Currently holding its full load of 2 million barrels, the Sirius Star contains one-quarter... More »

MORE ABOUT:
Somalia • Africa • Saudi Arabia • piracy • fuel tankers • crude oil • pirates • US Navy

 Oil Dips Below $60 a Barrel 


Nov 6, 08 8:26 PM CST
(AP) - Oil prices dipped below $60 a barrel tonight for the first time in about a year and a half, as a growing number of economic reports point to a long and painful recession. Light, sweet crude for December delivery fell to $59.97 in New York trading, the lowest level... More »

MORE ABOUT:
OPEC • recession • crude oil • oil prices

 Gas Prices Lowest in Year 

Lower gas worth $1000 a year for families

Oct 21, 08 2:14 AM CDT
(Newser) - The price of gasoline has dropped to its lowest level in a year, Reuters reports. The national average price for a gallon of regular unleaded is $2.91, a drop of 57 cents per gallon in just the last two weeks. Gas is most expensive in San Francisco, at... More »

MORE ABOUT:
petroleum • gas prices • Department of Commerce • crude oil • Energy Information Administration • Diesel

 Oil's Slide as Chaotic as Its Rise 

Plunging crude prices can be almost as disruptive as their rise

Sep 17, 08 10:00 AM CDT
(Newser) - Crude oil prices have fallen 38% from their July high of $147.27 a barrel, and the decline is causing nearly as much consternation around the world as its meteoric rise in the first half of the year, reports the Washington Post. Oil-dependent governments are worried about revenues and... More »

MORE ABOUT:
alternative energy • business • crude oil • oil production • oil exploration • oil prices

(Newser) - The price of crude oil slid briefly under $100 a barrel today for the first time in 5 months, Reuters reports. The development came even as Hurricane Ike bore down on the Texas coast and its many refineries; investors apparently think the slowing world economy will continue to drive down... More »

MORE ABOUT:
energy prices • crude oil • oil prices

Oil Prices Drop for 4th Day
on Minimal Gustav Damage

Slowing demand drops crude to $108

Sep 3, 08 9:07 AM CDT
(AP) - Oil prices dipped to just above $108 a barrel today after Hurricane Gustav left oil installations in the Gulf of Mexico largely undamaged. By midday in Europe, light, sweet crude for October delivery was down $1.50 on the New York Mercantile Exchange as the dollar continued to strengthen and... More »

MORE ABOUT:
crude oil • commodities • oil prices • Hurricane Gustav

MARKETS

 On Mixed News, Modest Gains 

Crude falls, durable goods rise, but foreclosures also climb

Jul 25, 08 3:33 PM CDT
(Newser) - The Dow and S&P 500 seesawed to minor gains today amid mixed economic reports, MarketWatch reports. The Dow rose 21.41 to 11,370.69, the S&P 500 5.22 to 1,257.76. Bolstered by the relative insulation from the economic slump enjoyed by tech stocks , the... More »

MORE ABOUT:
Dow Jones • General Motors • durable goods • Nasdaq • Freddie Mac • Fannie Mae • crude oil • Standard and Poor • tech stocks • S&P 500 • Amazon.com

 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 »

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

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 »

MORE ABOUT:
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

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