Posts Tagged ‘oil futures’

Senator asks government to curb oil speculators

May 30th, 2009

By Tom Doggett
WASHINGTON (Reuters) - U.S. Senator Bernie Sanders has asked the federal futures market regulator to crack down on speculators whom he blamed for pushing up crude oil and gasoline prices.
The price for crude oil topped $66 a barrel on Friday, up more than 70 percent since mid-January. The rising oil costs have been [...]

Fuel prices rise as demand drops

May 26th, 2009

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 [...]

Demand Drops OPEC set to cut oil output as

December 15th, 2008

Secretary General of OPEC, said that more than contain oil market is big and strong output cut is needed, sending crude oil prices on world markets in question.
The president of OPEC, but here too, that the unanimous support of the reduction in Organization
Note that speculation that the State of the Organization of Petroleum Exporting Countries [...]

Gas prices continue to fall

November 24th, 2008

Average U.S. price falls to $1.929 a gallon, according to national daily survey.
NEW YORK (CNNMoney.com) — Gasoline prices continued to sink, falling for the 67th day in a row, according to a national survey of gas station credit card swipes released Sunday.
The average price of gas in the United States fell to $1.929 a gallon, [...]

Oil prices rise above $50 on Obama economy team

November 24th, 2008

By ALEX KENNED
SINGAPORE (AP) — Oil prices rose above $50 a barrel Monday in Asia as investors gained some confidence from reports that U.S. President-elect Barack Obama has chosen an economic team to tackle what could be the worst slowdown in decades.
Light, sweet crude for January delivery was up 37 cents to $50.30 a barrel [...]

Oil Closes Below $50, Lowest Price Since May 2005

November 21st, 2008

Oil Closes Below $50, Lowest Price Since May 2005
After rising to dizzying heights this summer, the oil market is suffering a hair-raising drop with no apparent end in sight.
Oil prices fell to their lowest level in more than three years, falling below $50 a barrel on Thursday, after shedding close to $100 in four months [...]

Oil falls below $56 as Japan slips into recession

November 17th, 2008

By PABLO GORONDI, Associated Press Writer
Oil prices fell below $56 a barrel Monday as news that Japan fell into recession highlighted investor fears that a global economic slowdown will hurt crude demand.
By midday in Europe, light, sweet crude for December delivery was down $1.23 to $55.81 a barrel in electronic trading on the New [...]

Oil slips below $59 on global growth pessimism

November 12th, 2008

VIENNA, Austria – Oil prices slipped below $59 a barrel Wednesday as investors grappled with the prospect that global growth next year will slow more than originally feared, cutting demand for gasoline and other crude products.
Expectations that a snapshot of the U.S. inventories will also show reduced consumption of oil and derivatives also acted as [...]

BP chief says falling oil prices will kickstart demand

November 4th, 2008

Falling oil prices will spur a recovery in demand for crude, according to Tony Hayward, chief executive officer of BP Plc, Europe’s second-biggest oil company.
Oil’s 54 percent drop from its July record in New York was caused by higher OPEC output, slower economic growth and lower U.S. consumption, Hayward said in a speech to the [...]

Oil Falls to $69 Ahead of OPEC Production Cut

October 23rd, 2008

SINGAPORE — Oil prices fell below $70 a barrel Wednesday in Asia as investors shrugged off a looming OPEC production cut after company forecasts suggested the U.S. may be headed for a severe economic slowdown that crimps crude demand.
Light, sweet crude for December delivery dropped $2.73 to $69.45 a barrel in electronic trading on [...]