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MONDAY, NOVEMBER 23, 2009
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NEWS ABOUT: $100 a barrel oil

$100 a barrel oil stories: 19 news summaries

 Errors Apparent: 
 2008's Worst 
 Predictions 

magazine recalls year's worst punditry

Dec 13, 08 4:42 PM CST
(Newser) - Presidential candidate Bloomberg? Nope. Russia invading the Ukraine? Hardly. Foreign Policy takes a look back at the worst predictions of the year:
  • A stabilized banking system: Shortly after Henry Paulson forecast stability on Wall Street, Citigroup’s stock price dropped 75% and closed below $5 for the first
... More »

MORE ABOUT:
Henry Paulson • Michael Bloomberg • Citibank • $100 a barrel oil • Kenyan elections • Best of 2008 • William Kristol

$100 Oil Will Return Soon Enough: Study

Price will rebound with economy, likely to hit $200 a barrel in 2030

Nov 6, 08 10:53 AM CST
(Newser) - If today’s price of $60 per barrel of oil seems too good to be true, that’s because it is. Oil prices will rebound to $100 a barrel once the economy recovers, and climb toward $200 by 2030, the market’s most comprehensive review predicts. Output is declining at... More »

MORE ABOUT:
oil • Saudi Arabia • oil price • predictions • oil supply • $100 a barrel oil • oil companies • Big Oil

 Oil Falls Below $97 
 on Mild Ike Damage 

Better than expected storm drops crude $4.39

Sep 15, 08 7:14 AM CDT
(AP) - Oil prices fell below $97 a barrel today, after Hurricane Ike inflicted minimal damage to oil installations on the Texas coast. Light, sweet crude for October delivery declined $4.39 to $96.79 a barrel in electronic trading on the New York Mercantile Exchange by noon in Europe, after finishing... More »

MORE ABOUT:
$100 a barrel oil • commodities exchange • NYMEX • oil futures • oil prices

 $6 Gas Possible by Year's End 

With oil near $150 a barrel, experts say $200 is a very real number for 2008

Jul 7, 08 7:38 AM CDT
(Newser) - As oil flirts with $150 a barrel, nearly double its price from last year, the specter of $6 a gallon gas at US pumps has become more real. A plethora of factors—from the threat of conflict with Iran to tight supplies and a weak dollar—continue to exert upward... More »

MORE ABOUT:
gas prices • oil price • oil production • $100 a barrel oil • oil reserves • economy • strategic petroleum reserve

 What if Oil Hits $200? 

Inflation would skyrocket as American society reorganizes

Jun 28, 08 3:35 PM CDT
(Newser) - Wall Street has predicted $200-per-barrel oil for months, but what if it really happens? Not only drivers would be hurt by such a spike, the Los Angeles Times reports: Inflation would skyrocket as oil-derived products turn pricey and "the purchasing power of the American people would be kicked in... More »

MORE ABOUT:
inflation • oil • commute • oil price • $100 a barrel oil

MARKETS

 Stocks Fall on Yahoo Plunge,
 Oil Spike 

Investors cautious on new developments

May 5, 08 3:32 PM CDT
(Newser) - Stocks fell today as Yahoo shares plummeted 16% and crude prices jumped past $120 a barrel. "People have gotten in, but they don't want to be in a big way," a investment officer told the Wall Street Journal. The Dow fell 88.66 at 12,969.54, the... More »

MORE ABOUT:
Yahoo • stock market • Microsoft • oil price • $100 a barrel oil

Updated

 Oil Tops Record High $113 

Dollar's decline chief cause of spike

Apr 15, 08 6:44 AM CDT
(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... More »

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

$4 Gas Expected This Spring

Energy Department predicts gas prices to peak soon

Mar 12, 08 4:40 AM CDT
(Newser) - Skyrocketing gas prices could hit $4 a gallon as early as this spring, predict government analysts. A new Energy Department report estimates prices will peak at close to $3.50 in most of the nation in May and June, but the $4 barrier could be broken in some regions, and... More »

MORE ABOUT:
inflation • oil • gas prices • oil price • oil supply • $100 a barrel oil

Oil Gushes to Record $105.96

A weakening dollar and falling inventories of oil are pushing crude prices up

Mar 6, 08 8:32 AM CST
(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... More »

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

Oil Flirts With Record-High $104

Passes inflation-adjusted all-time peak

Mar 3, 08 11:45 AM CST
(Newser) - As oil soared to nearly $104 a barrel today, it set an all-time, inflation-adjusted record, surpassing even the height of the oil crises of the '70s and '80s, the New York Times reports. Futures touched $103.95 on the New York Mercantile Exchange, beating out the April 1980 record... More »

MORE ABOUT:
inflation • oil • futures market • oil price • New York Mercantile Exchange • commodities • oil supply • $100 a barrel oil • oil crisis

House Passes Bill to Halt Big Oil Tax Breaks

Veto threat as Republicans call it industry discrimination

Feb 28, 08 5:36 AM CST
(Newser) - Millions of dollars in tax breaks enjoyed by the top five oil companies would be rescinded under an $18 billion tax package which cleared the House of Representatives yesterday. The money saved would be plowed into creating alternative sustainable energy sources. It represents just a penny a gallon to the... More »

MORE ABOUT:
oil • Exxon • Chevron • ConocoPhillips • BP • ExxonMobil • gas prices • tax breaks • $100 a barrel oil • foreign oil • corporate tax cuts • Conoco

$100 Oil Fuels Recession Fears

Speculation is driving oil up, and that's a concern for consumers, economists

Feb 21, 08 12:47 PM CST
(Newser) - Oil prices have jumped 16% in two weeks, and analysts tell the Christian Science Monitor the run-up couldn't come at a worse time. As the US economy flirts with recession, beleaguered consumers could end up spending their economic stimulus checks to cover even higher gas prices. The $101.32 per... More »

MORE ABOUT:
inflation • oil • OPEC • energy prices • recession • gas prices • oil price • crude oil • oil production • $100 a barrel oil

MARKETS

$100 Oil Extinguishes Rally

After three-digit gain, the Dow ends down

Feb 19, 08 4:11 PM CST
(Newser) - After three-digit Dow gains, today's record surge in oil prices knocked out a broad rally, and the major indexes closed in the red. Analysts say the market won't be able to sustain a prolonged rally for some time. "The rallies we're seeing now are just bounces, not a new... More »

MORE ABOUT:
oil • stock market • OPEC • oil price • $100 a barrel oil

Traders Gamble on $200 Oil

Did you think $100 was high?

Jan 8, 08 6:24 AM CST
(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... More »

MORE ABOUT:
futures market • oil price • crude oil • oil production • $100 a barrel oil

$200 Oil on Horizon: Economists

Decreasing supply will mean increasing prices

Jan 3, 08 3:13 PM CST
(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... More »

MORE ABOUT:
energy • oil • Germany • oil price • crude oil • weak dollar • $100 a barrel oil • DIW German Institute

Sky-High Oil Will Reshape World Power, Dent US Clout

Power shifts as global economies change

Jan 3, 08 6:39 AM CST
(Newser) - The surging price of oil from $10 a barrel a decade ago to a record $100 today is remaking the global economy and altering the balance of power across the world, according to the Wall Street Journal. If oil prices continue to climb, as many experts predict, US political power... More »

MORE ABOUT:
China • climate change • Russia • Middle East • Saudi Arabia • Venezuela • Vladimir Putin • International Monetary Fund • ExxonMobil • United Arab Emirates • oil price • fuel economy standards • $100 a barrel oil • Aramco • Abu Dhabi Investment Authority • US automakers

Oil Hits Record $100 a Barrel

Disruptions in Nigeria, Mexico
stoke supply concerns

Jan 2, 08 11:11 AM CST
(Newser) - Crude oil prices jumped $4.02 today to push past $100 a barrel for the first time as Nigerian violence, disrupted Mexican exports, and the specter of dipping US stockpiles stoked supply fears in the face of ever-rising energy demands, CNNMoney reports. The previous record was $99.29, set November... More »

MORE ABOUT:
oil • Nigeria • exports • Port Harcourt • oil price • Nigerian violence • oil supply • US stockpiles • $100 a barrel oil • interest rate cut

$100 a Barrel Oil Triggers Crisis

New energy shock caused by runaway demand

Nov 9, 07 11:11 AM CST
(Newser) - The planet is headed for the third major energy crisis in a generation, but this one may be more serious and last longer than the others, the Times reports. Energy crises in the '70s and '80s were triggered by interruptions in supply from the Middle East. This time around, the... More »

MORE ABOUT:
China • India • solar energy • oil price • Energy crisis • Royal Dutch Shell • $100 a barrel oil • oil crisis

Oil May Break $100 Barrier This Week

Some see 'violent correction' once $101.70 is shattered

Nov 5, 07 3:37 AM CST
(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... More »

MORE ABOUT:
Iraq • Turkey • oil price • crude oil • Kurdistan Workers' Party • Benchmark crude futures • New York Mercantile Exchange • $100 a barrel oil

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