How High Will Oil Go?

Markets Surge on Oil, Financials

Wall Street Journal  |  Jul 16, 08 3:27 PM CDT

(Newser) - The markets rallied big today, as the price of oil fell for a second day and financials regained some of the ground lost in recent chaotic sessions, the Wall Street Journal reports. The Dow gained 276.74 to go back over the 11,000 mark, at 11,239.28. The Nasdaq rose 69.14, settling at 2,284.85, and the S&P 500 gained 30.45, closing at 1,245.36. More »

Why $8 Gas Would Be Awesome

Los Angeles Times  |  Jul 11, 08 11:17 AM CDT

(Newser) - Gas, as you may have heard, has topped $4 a gallon, and Joel Stein of the LA Times loves it. "Cheap gas is unfair," he argues, tongue mostly in cheek. Heck, why not make it $8 or even $10 a gallon, as in Europe, "where they have fewer road deaths even though they drive like complete idiots"? More »

Stocks Decline as Fannie, Freddie Fall, Oil Leaps

Associated Press  |  Jul 11, 08 9:56 AM CDT

(AP) - Stocks tumbled this morning as investors focused on troubles at mortgage companies Fannie Mae and Freddie Mac and watched oil prices climb further into record territory. The Dow fell more than 170 points and neared the 11,000 mark for the first time in two years. Investors seemed unimpressed by a statement from Treasury Secretary Henry Paulson, who said the government's focus is ensuring that Fannie and Freddie remain as presently constituted to carry out their mission. More »

Gas Use Hits Record Low, Prices Still Sky High

Wall Street Journal  |  Jul 10, 08 2:21 AM CDT

(Newser) - Soaring gas prices are changing Americans driving habits, cutting consumption to the lowest levels in five years, reports the Wall Street Journal. Gas consumption dropped by 3.3% to 9.3 million barrels a day compared with last year's Fourth of July holiday. Some 62% of Americans are changing summer plans because of rising gas prices, and 15% have canceled vacations altogether. More »

Tech Triggers Big Drop

Wall Street Journal  |  Jul 9, 08 3:37 PM CDT

(Newser) - Stocks fell today as investors saw weakness across the economy, particularly in tech bellwethers Cisco and Intel, MarketWatch reports. Oil also rebounded from a two-day fall, trading up 65 cents to $136.69 a barrel. The Dow fell 236.77, closing at 11,147.44. The Nasdaq shed 59.55 to close at 2,234.89, and the S&P 500 lost 29.01, settling at 1,244.69. More »

Stocks Surge on Oil, Fed News

MarketWatch  |  Jul 8, 08 3:38 PM CDT

(Newser) - The markets made strong gains today as crude futures fell more than $5 and the Fed took steps to shore up the housing market, MarketWatch reports. The Dow gained 152.25 points, its biggest jump in a month, to close at 11,384.21. The Nasdaq rose 51.10 points to 2,294.42, and the S&P 500 rose 21.39 points to 1,273.70. More »

Oil Drops, but Rally Fades

MarketWatch  |  Jul 7, 08 3:38 PM CDT

(Newser) - The markets saw modest losses today after a rally spurred by a drop in crude prices sputtered over capital concerns at Fannie Mae and Freddie Mac, MarketWatch reports. The Dow fell 56.58 to 11,231.96, the Nasdaq dropped 2.06 to 2,243.32, and the S&P 500 fell 10.59 to 1,252.31. More »

$6 Gas Possible by Year's End

Wall Street Journal  |  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 pressure on crude prices, the Wall Street Journal reports. More »

Oil Gushes Past $145