Oil prices were essentially flat to end the week after Federal Reserve Chairman Ben Bernanke said this week that interest rates will have to be raised when the economy recovers in order to avoid inflation.
It has been the weak dollar that has attracted billions in investments in energy markets this year because oil is priced [...]
DENVER–(BUSINESS WIRE)–Credo Petroleum Corporation (NASDAQ:CRED - News) today reported financial results for the quarter and nine months ended July 31, 2009.
For the third quarter, net income was $353,000, or $.03 per basic and diluted share, compared to $3,343,000, or $.34 per diluted share last year. Production increased 6% compared to last year, however, substantially lower [...]
Supplies are up, too. Analysts suggest that Wall Street speculators hedging against inflation may be the cause.
WASHINGTON - Oil and gasoline prices have risen fast during the approach to Memorial Day weekend, but not because supplies are tight or demand is high.
U.S. crude-oil inventories are the highest in almost two decades, and demand has fallen [...]
NEW YORK (AP) — Oil prices hit news highs for the year Thursday after a decision by the Federal Reserve to spend billions snapping up U.S. bonds sent the dollar tumbling.
Oil is priced in dollars and when the U.S. currency weakens, it essentially makes crude cheaper.
Benchmark crude for April delivery surged $3.39 to $51.53 a [...]
Light, sweet crude for February delivery fell $2.45, or nearly 6 percent, to settle at $39.91 a barrel on the New York Mercantile Exchange.
By the Associated Press
Oil prices tumbled below $40 a barrel Monday as reports from manufacturers like Toyota and Caterpillar pointed to a worsening global economic climate and serious deterioration in energy demand.
Light, [...]
OKLAHOMA CITY — As he prepares to address a wind-power conference in Oklahoma, billionaire energy magnate T. Boone Pickens said it shouldn’t seem strange that he is interested in wind and other alternative energy sources.
“It’s not totally unrelated to the oil business,” Pickens told The Associated Press. “It’s an energy business. It’s easy for [...]
NEW YORK, Nov. 26 (UPI) — Crude oil prices rose modestly Wednesday on the New York Mercantile Exchange, gaining 39 cents to $51.16 per barrel.
Crude prices have dropped since Monday’s spike to move than $54 per barrel, which came after the U.S. government decided to bail out Citigroup Inc. (NYSE:C)
On Wednesday, heating oil prices rose [...]
By DENNIS WEBB
Citing falling natural gas prices, Chevron announced Wednesday it has dropped plans to speed up its natural gas development program north of De Beque.
The company joins several others that have been adjusting their drilling programs in northwest Colorado as a result of changing economic conditions.
Chevron spokeswoman Kristi Pollard said the company has called [...]
By H. JOSEF HEBERT • Associated Press • November 13, 2008
WASHINGTON — The dramatic drop in world oil prices means a break this winter in heating costs, although households will still be paying more than they did last winter, the government says.
Gasoline prices, which have declined by nearly 50% since July, are expected to remain [...]
Business First of Columbus - by Jeff Bell
Tim Crawford’s faith in what he thinks is a fundamental truth in the energy business seems to sustain him as oil and natural gas prices tumble and stock values fall.
“Everyone has to fill their gas tank and heat their home,” said the CEO of Capital City Energy Group [...]
