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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: oil prices

oil prices stories: 126 news summaries

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 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

MARKETS

 Dow Off 400+ Again, Below 9K 

Worrisome news on retail, jobs sink stocks

Nov 6, 08 3:30 PM CST
(Newser) - Stocks added to yesterday’s deep declines with the major indices registering falls of 4%-5% today, MarketWatch reports. A string of poor retail reports soured confidence ahead of tomorrow’s October unemployment report, expected to be grim. The Dow fell 443.48, dropping below the 9,000 mark to 8,... More »

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Dow Jones • General Motors • unemployment • Nasdaq • retail sales • S&P 500 • oil prices • financial crisis

Texas Energy Boom Goes Bust

High oil, gas prices insulated state from economic turmoil,
but no longer

Nov 5, 08 10:28 AM CST
(Newser) - Oil’s tumbling price is causing the Texas economy to slip, narrowing the economic gap between it and the rest of the US as unemployment flares and tax revenues and housing prices slide, reports the Wall Street Journal. “Until 30 days ago, there was no feeling at all that... More »

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Texas • gas prices • oil drilling • oil prices • financial crisis

MARKETS

 Stocks Flat; Oil Falls $3.90 

Energy concerns take a hit as crude plunges

Nov 3, 08 3:37 PM CST
(Newser) - Stocks held steady today, with the indices ending the session only a few points removed from their opening marks, MarketWatch reports, with General Motors and Ford reporting mammoth October sales drops, and crude plunging $3.90 to $64.25. The Dow fell 5.18 to 9,319.83. The Nasdaq... More »

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Dow Jones • General Motors • Nasdaq • auto sales • S&P 500 • oil prices • financial crisis

 Gas Prices in Record Fall 

Gas drops 53 cents in two weeks

Oct 27, 08 3:35 AM CDT
(Newser) - Gasoline prices have dropped 53 cents in the last two weeks, the steepest decline ever, according to the nationwide Lundberg Survey. The national average price for a gallon of regular unleaded is $2.78, Reuters reports. Wichita, Kansas, has the cheapest gasoline, at $2.26 a gallon, and San... More »

MORE ABOUT:
credit crisis • economy • Lundberg Survey • oil prices • gasoline prices

MARKETS

 Poor Day Ends Horrible Week 

Dow off 312, but bears show some restraint

Oct 24, 08 3:23 PM CDT
(Newser) - US stocks declined today but stopped somewhat short of total free fall after global markets plunged close to 10%. With perhaps a buffer from news of a bump in existing US home sales, the Dow fell 312.30 to close at 8,378.95, MarketWatch reports. The Nasdaq dropped 51.... More »

MORE ABOUT:
Federal Reserve • Dow Jones • Nasdaq • federal funds rate • S&P 500 • interest rate cut • oil futures • oil prices • financial crisis • stock futures

(Newser) - OPEC today decided to take 1.5 million barrels of oil per day off the markets to boost prices flirting with 16-month lows, the Wall Street Journal reports. The deep cut will take effect next month. “This slowdown in oil demand is serving to exacerbate the situation in a... More »

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Iran • Saudi Arabia • OPEC • gas prices • energy markets • oil prices • financial crisis

 Airfares May Sag in '09: Report 

Declining demand, dropping oil prices likely to bring prices down

Oct 22, 08 4:47 PM CDT
(Newser) - The slumping economy may bring some good to the travel industry: Domestic airfare and hotel rates could fall next year as strapped individuals and companies think twice about globetrotting. A slash in oil prices, down to half of summer’s record high, has also brought airlines relief, Reuters reports. In... More »

MORE ABOUT:
recession • American Express • airfare • oil prices • hotels • travel expenses • financial crisis

Chavez's Stature Shrinks as Price of Oil Plummets

Venezuela's largesse depends on high volume, expense

Oct 20, 08 11:49 AM CDT
(Newser) - Hugo Chavez’s days as an international sugar daddy may be ending, at least for now. Chavez has made a habit of lavishing gifts on his political allies, but with crude around $70—less than half its peak price—he may not have the wealth to spread, the Christian ... More »

MORE ABOUT:
Venezuela • Nicaragua • Ecuador • oil price • Hugo Chávez • international aid • oil prices

MARKETS

 Markets Rise as Credit Eases 

Volatility probably ahead; oil prices up, too

Oct 20, 08 8:46 AM CDT
(Newser) - Stocks rose at the open today, as investors saw signs the credit markets are easing, the Wall Street Journal reports. The Dow rose 104 points, while the Nasdaq and S&P saw modest 1.5% and 1.2% bumps, respectively. Stocks in Europe and Asia generally rose as well. We... More »

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stock market • Dow Jones • markets • AIG • credit market • oil prices • Libor • financial crisis • NRG • Exelon

 Oil Sinks Below $70 
 as Economy Tanks 

Price oil halves in 3 months as demand takes a dive

Oct 17, 08 2:20 AM CDT
(Newser) - Dropping demand sent a barrel of oil dipping below $70 for the first time in 14 months yesterday, the Wall Street Journal reports. Prices have dropped more than 50% in three months—a sign of a deeply troubled economy, but one that could help the world recover as companies that... More »

MORE ABOUT:
oil • recession • global economy • US economy • oil price • oil prices • financial crisis

MARKETS

 Dow Up 401 After Seesaw Day 

Investors see signs of gradually easing credit—and bargains, driving up market late

Oct 16, 08 3:23 PM CDT
(Newser) - Stocks rallied late in today’s volatile session, but stopped short of recovering yesterday’s sharp losses, rollercoastering through an 800-point range, MarketWatch reports. Crude oil futures fell $4.69, to about half of their record high in July, on a report that showed US inventories increasing. The Dow rose... More »

MORE ABOUT:
Dow Jones • core inflation • Nasdaq • credit market • credit crisis • S&P 500 • oil prices • Libor • financial crisis

EARNINGS REPORTS

 Southwest 
 Loses $120M 
 on Bad Oil Bet 

Otherwise, quarter beat expectations

Oct 16, 08 7:36 AM CDT
(Newser) - Southwest Airlines posted a $120-million third-quarter loss today, due almost entirely to a one-time $247-million charge on an oil bet gone wrong, the New York Times reports. Southwest aggressively locks in its fuel costs far in advance, which looked brilliant last year, as oil prices skyrocketed. But oil’s... More »

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airline industry • earnings reports • corporate earnings • Southwest Airlines • third quarter earnings • oil prices

MARKETS

 Dow Finishes Down 733 

Bad data pummels equities; oil drops below $75 per barrel

Oct 15, 08 3:21 PM CDT
(Newser) - Stocks continued to slide in the final hours of the trading day as retail sales and manufacturing activity slowed while core inflation jumped, the Wall Street Journal reports. Oil slid $4.09 to $74.54 a barrel, its lowest price in 2008. The Dow closed down 733.08 at 8,... More »

MORE ABOUT:
Chevron • Citigroup • Dow Jones • Nasdaq • S&P 500 • Exxon Mobil • oil prices • financial crisis

Gas Prices Plunge in
Biggest Drop Ever

Demand and recession drive price down

Oct 13, 08 2:20 AM CDT
(Newser) - The Dow isn't the only thing plummeting. Amid falling demand, the average price of a gallon of gasoline has dropped over 35 cents in the last two weeks. The nationwide Lundberg Survey of 5,000 gas stations shows the cost of gas has slid more than 80 cents since March—... More »

MORE ABOUT:
oil • gas prices • New York Mercantile Exchange • Lundberg Survey • oil prices • financial crisis • Diesel

(AP) - Oil prices plummeted to a one-year low below $83 a barrel today in European trading as investor fears of a severe global economic downturn sparked a panicked sell-off. "The whole market has lost confidence in everything," said one commodities strategist. "Everyone is worried about global growth, and... More »

MORE ABOUT:
oil • OPEC • recession • global economy • New York Mercantile Exchange • commodities • commodities exchange • oil prices • financial crisis

Big Oil Takes Big Hit in Stocks' Dive

Demand slows, but company coffers
plenty full ... for now

Oct 7, 08 2:57 PM CDT
(Newser) - Oil companies’ stocks are plummeting, but the majors are comfortable with long-term plans and bulging coffers, the Wall Street Journal reports. The global economy is pushing crude prices down, and analysts think measures are necessary to keep share prices up. But larger outfits like Exxon made investments based on lower... More »

MORE ABOUT:
BP • credit crisis • stock price • oil companies • Exxon Mobil • oil prices • oil demand • financial crisis

MARKETS

 Bailout, Oil Send Dow Down 372 

Traders nervous about long-term effects

Sep 22, 08 3:26 PM CDT
(Newser) - Stocks plummeted today as uncertainty over the cost and long-term impact of the Wall Street bailout plan spread and oil surged, MarketWatch reports. Treasuries and the dollar fell as traders worried the bailout’s cost could affect the government’s status as a borrower. The Dow closed down 372.75,... More »

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Microsoft • Exxon • Chevron • Dow Jones • American Express • Nasdaq • S&P 500 • bailout • JPMorgan Chase • oil prices

 Oil Surges Record $25/Barrel 

Worries over US bailout sent crude near $130 a barrel

Sep 22, 08 2:23 PM CDT
(AP) - Oil prices rocketed up more than $25 a barrel today, recording the biggest one-day price jump ever as anxiety over the government's $700 billion bailout plan, a weak dollar, and an expiring crude contract ignited a dramatic rally. Light, sweet crude for October delivery jumped as much as $25.45... More »

MORE ABOUT:
energy prices • oil prices

 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

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