COLUMBUS, Ohio (AP) — Oil prices dipped below $40 per barrel Friday for the first time this year as the government reported the nation’s worst annual job losses since World War II.
People are traveling less, manufacturers are slashing production and there are job cuts across almost every sector of the economy, leading to a severe [...]
CALGARY — Two major banks released bearish forecasts for oil and natural gas prices Thursday, with global economic turmoil expected to further dampen energy demand.
RBC Capital Markets, the investment banking arm of Canada’s biggest bank, is calling for an average 2009 oil price of US$80 per barrel, down from its previous estimate of US$90.
But oil [...]
United States - By Tom Doggett
WASHINGTON (Reuters) - As the U.S. heating season gets underway, the average price that homeowners paid for heating oil was $3.67 per gallon this week, the government said Wednesday.
The nationwide heating oil price is 90 cents higher than a year ago, according the federal Energy Information Administration’s weekly [...]
Cheaper oil is bright spot in financial crisis
By Erin Ailworth
The price of crude oil fell to its lowest level in more than a year yesterday, which should lead to further gasoline and heating oil savings for Massachusetts consumers.
Crude oil, which peaked at about $145 a barrel during the summer, dropped $8.89 to [...]
Gas prices poised to climb towards record levels again as hurricane hits center of nation’s oil refining base; Ike could also cost insurers up to $18 billion.
By Chris Isidore, CNNMoney.com senior writer
NEW YORK (CNNMoney.com) — Gas prices are poised to shoot back toward record highs after Hurricane Ike’s direct hit to the heart of the [...]
Gas prices poised to climb towards record levels again as hurricane hits center of nation’s oil refining base; Ike could also cost insurers up to $18 billion.
By Chris Isidore, CNNMoney.com senior writer
NEW YORK (CNNMoney.com) — Gas prices are poised to shoot back toward record highs after Hurricane Ike’s direct hit to the heart of the [...]
By Mark Shenk and Margot Habiby
Sept. 12 (Bloomberg) — Crude oil rose from a five-month low as Hurricane Ike headed toward a near-direct hit at Houston, the busiest U.S. refining center.
About 12 percent of U.S. refining capacity is being shut before Ike makes landfall tomorrow. The Gulf Coast region is home to 26 percent [...]
Crude prices gyrate at 5-month-low after the cartel says it will curb output. Hurricane Ike is a risk as well and market watchers wait for government supply report.
By Catherine Clifford, CNNMoney.com staff writer
Last Updated: September 10, 2008: 8:29 AM EDT
New York (CNNMoney.com) — Oil prices churned Wednesday after OPEC moved to reduce output levels, ahead [...]
