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 [...]
SYDNEY – Under a plan to supply China with Australian coal, Waratah Coal Pty Ltd. said it has won the financial backing of Metallurgical Corporation of China Ltd., or MCC, for its planned US$5.15 billion thermal coal project in Queensland state.
The plan has several hoops to jump through before the first cargo leaves port, but [...]
May 8 (Bloomberg) — Crude oil rose to the highest level since November after a report showed that the U.S. cut fewer jobs than forecast in April, a signal that the worst of the recession has passed and fuel demand may rebound.
Oil prices gained 10 percent this week as reports on U.S. home sales [...]
NEW YORK (Dow Jones)–Crude futures traded lower Tuesday amid concerns that the swine flu outbreak would curb oil demand.
Light, sweet crude for June delivery traded traded $1.25, or 2.5%, lower at $48.89 a barrel the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded $1.14 lower at $49.18 a barrel.
Commodities and [...]
Exxon Mobil finished a roller-coaster year in the oil markets with an all-time record $45.2 billion in profits, despite fourth-quarter earnings that were a third lower than the same period a year before.
With oil prices slumping, Exxon Mobil suffered a sharp drop in profits from producing oil and gas but higher profit margins at refueling [...]
LONDON (Reuters) – Oil prices slipped below $41 a barrel on Friday as data showing a big rise in U.S. unemployment deepened gloom over the outlook for the world’s biggest oil consumer.
U.S. employers slashed payrolls by 524,000 in December, driving the national unemployment rate to its highest level in almost 16 years, a government report [...]
Investors respond to a weaker dollar, rising stock prices and grim economic reports.
By Ben Rooney, CNNMoney.com staff writer
NEW YORK (CNNMoney.com) — The price of oil fell Tuesday, after a big rally in the previous session, as dour economic reports darkened the outlook for already weak demand for oil and gasoline.
A weaker dollar and rising stock [...]
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 [...]
By MARK WILLIAMS
COLUMBUS, Ohio – Retail gasoline fell to a new three-year low Tuesday and in an unprecedented decline, crude oil costs $100 less per barrel than it did four months ago with a U.S. recession eating away at energy demand.
Analysts believe prices at the pump may finally be bottoming out after a precipitous [...]
By PABLO GORONDI, Associated Press Write
Oil prices were down but recovering from earlier lows Tuesday, after surging overnight, as investors weighed the U.S. government’s new efforts to deal with the financial crisis against fresh evidence of the economic downturn.
The U.S. Federal Reserve said Tuesday it would buy up to $600 billion in mortgage-backed assets, [...]
