LONDON (AFP) — Oil prices dropped some two dollars on Monday on concerns that a deepening global economic downturn could spark a slump in demand for energy, analysts said.
The market was also weighed down by news of a possible resolution to the ongoing Russia-Ukraine gas supply crisis, they added.
Traders also tracked developments in the Middle [...]
By Shigeru Sato and Yuji Okada
Dec. 8 (Bloomberg) — Crude oil rebounded from six days of declines as OPEC’s president said the group may make a “significant” output reduction and U.S. President-elect Barack Obama pledged the biggest public works program in about 50 years.
A “severe” cut may be needed to halt the more than [...]
By Gavin Evans
Sept. 22 (Bloomberg) — Crude oil fell for the first time in four days as Nigerian militants stopped attacks on oil facilities and investors awaited the U.S. government’s proposed $700 billion rescue package for the finance industry.
The rally in oil, up 15 percent the past three days, stalled as the Movement for [...]
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 [...]
