oil prices – News Stories About oil prices - Page 17

Apr 10, 2008 10:21 PM CDT

Delta Pilots Aboard for Merger

NW deal would create world largest carrier

(Newser) - Delta Air Lines has reached a deal with its 7,000 pilots that is expected to allow a long-delayed merger with Northwest Airlines to take off, Bloomberg reports. The airlines plan to announce the merger next week, sources said. The new airline would carry the Delta name and jet past...

Stocks Fall on Recession Fears

MARKETS

Mar 26, 2008 3:39 PM CDT

Stocks Fall on Recession Fears

Citigroup's big drop keys bad day for financials

(Newser) - Stocks fell today amid a new wave of recession concerns, Bloomberg reports. A big drop by Citigroup led financials to their worst plunge in almost two weeks, and oil prices jumped back up after inventory showed supply unchanged from last week. The Dow ended down 109.74 to 12,422....

Oil Hovers
Near $102
a Barrel

Mar 26, 2008 6:16 AM CDT

Oil Hovers Near $102 a Barrel

Iraq fighting, low gas supplies and weak dollar boost price

(Newser) - Concern about potential supply disruptions in Iraq and American gasoline reserves pushed oil prices up for the second day in a row, despite expected news from the Energy Department that crude supplies in the US had rebounded, reports the Associated Press. The US dollar’s continued depreciation against a slew...

China Runs Low on Gas

Mar 24, 2008 2:08 PM CDT

China Runs Low on Gas

Shortage spreads to Beijing, Shanghai; government, which controls price, urges calm

(Newser) - China may be running on less-than-full tank again as gasoline and diesel shortages spread to Shanghai and Beijing, the AP reports. Long lines are a common sight outside filling stations, which have been plagued by erratic shipments. “We have no diesel available at all,” said one gas station...

UN Pleads for $500M in Food Aid

Mar 24, 2008 4:59 AM CDT

UN Pleads for $500M in Food Aid

May cut food shipments to 73M hungry

(Newser) - A United Nations food program has issued an extraordinary emergency plea for an extra $500 million in aid, warning that shipments to the world's hungry may be rationed if the money can't be raised over the next month, reports the Financial Times. The World Food Program feeds some 73 million...

Airlines Fasten Seatbelts for Bumpy Ride

Mar 20, 2008 4:02 AM CDT

Airlines Fasten Seatbelts for Bumpy Ride

Major US carriers downgrade as hard times loom

(Newser) - America's major airlines are getting ready for tougher times ahead, slashing jobs and cutting back operations. As the Christian Science Monitor reports, soaring fuel prices will inevitably lead to higher ticket prices, which will lead to less passengers—which, in turn, will force airlines to hike fares again to cover...

Delta Will Slash 2K Jobs

Mar 18, 2008 2:02 PM CDT

Delta Will Slash 2K Jobs

Firm will offer voluntary severance to 30,000 employees

(Newser) - Battered by skyrocketing fuel prices, Delta Air Lines will eliminate 2,000 jobs to cut costs, the Atlanta Journal-Constitution reports. With oil prices driving the airline’s fuel expenditures $900 million higher than expected, the carrier will offer buyouts to some 30,000 employees, aiming to cut 1,300 flight...

Wowie! Maui Gas Hits $4

Mar 14, 2008 9:45 AM CDT

Wowie! Maui Gas Hits $4

Hawaii is especially hard hit by rising oil prices

(Newser) - The price of gas in the US hit another record this morning of $3.28 a gallon, CNN reports, but at least one part of the nation thinks that would be a great bargain. On Maui, $4 gas has already arrived in many places, and the island is on the...

Consumer Prices Flat in Feb.

Mar 14, 2008 8:41 AM CDT

Consumer Prices Flat in Feb.

Lack of increase means Fed has an open door to a big rate cute next week

(Newser) - Consumer prices were flat for February, pleasantly surprising economists who expected a 0.2% increase, reports the Wall Street Journal. This morning’s consumer price index eases concerns that inflation is accelerating as the economy slows, and it gives the Federal Reserve more reason to float a large interest rate...

$4 Gas Expected This Spring

Mar 12, 2008 4:40 AM CDT

$4 Gas Expected This Spring

Energy Department predicts gas prices to peak soon

(Newser) - Skyrocketing gas prices could hit $4 a gallon as early as this spring, predict government analysts. A new Energy Department report estimates prices will peak at close to $3.50 in most of the nation in May and June, but the $4 barrier could be broken in some regions, and...

Financials, $108 Oil Sink Stocks

MARKETS

Mar 10, 2008 3:49 PM CDT

Financials, $108 Oil Sink Stocks

Crude shatters record price; recession fears prevail

(Newser) - US stocks fell today for a third consecutive day as fears of recession continued to spread, MarketWatch reports. With Ambac’s revival uncertain and Countrywide facing a possible securities fraud probe, shares of both financial giants plummeted, pressuring the overall market downward. The Dow lost 153.54 to close at...

Iraq's Toll Spirals Into Trillions

Mar 10, 2008 9:44 AM CDT

Iraq's Toll Spirals Into Trillions

Iraq may cost up to $12.5B each month

(Newser) - In 2002 Donald Rumsfeld envisioned an Iraq war price tag of "something under $50 billion," but a Harvard professor and a Nobel-prize winning economist now pin the total cost at $3 trillion, with a "running cost" of $12.5 billion a month. As the Iraq war enters...

Oil-Rich Iraq Should Fund Reconstruction, Say Senators

Mar 9, 2008 2:34 PM CDT

Oil-Rich Iraq Should Fund Reconstruction, Say Senators

US taxpayers are footing bill instead

(Newser) - Why isn't an Iraq that's rolling in oil dollars funding its own reconstruction? senators Carl Levin of Michigan and John Warner of Virginia want to know. The Armed Services' Committee honchos wrote the Government Accountability Office saying Iraq is doing little to help itself despite a projected $100 billion in...

Dow Plummets 214 Points

MARKETS

Mar 6, 2008 3:44 PM CST

Dow Plummets 214 Points

Market ends at its lowest level in 18 months

(Newser) - The markets fell sharply today as the dollar hit a fresh low against the euro, oil prices hit a fresh high, and more bleak news on the housing front came to light, MarketWatch reports. The Dow plummeted 214.6 points to settle at 12,040.39, its lowest level in...

Oil Gushes to Record $105.96

Mar 6, 2008 8:32 AM CST

Oil Gushes to Record $105.96

A weakening dollar and falling inventories of oil are pushing crude prices up

(Newser) - An ever-weakening dollar, an unexpected drop in US crude oil reserves, and a Wednesday OPEC decision not to boost production helped spur oil to a record $105.96 a barrel, Bloomberg reports. It's the third record this week, and the dollar’s $1.5345 against the euro is the lowest...

Oil Hits $104; OPEC Won't Budge

UPDATED

Mar 5, 2008 3:57 PM CST

Oil Hits $104; OPEC Won't Budge

Cartel president blames 'mismanagement' of US economy for rising prices

(Newser) - Crude oil rose to a record $104.52 a barrel today after OPEC decided to hold production steady. “The oil market is currently stable,” said Saudi Arabia’s oil minister. “There is no need to increase even one barrel of oil.” The cartel blamed sky-high prices...

Oil Flirts With Record-High $104

Mar 3, 2008 11:45 AM CST

Oil Flirts With Record-High $104

Passes inflation-adjusted all-time peak

(Newser) - As oil soared to nearly $104 a barrel today, it set an all-time, inflation-adjusted record, surpassing even the height of the oil crises of the '70s and '80s, the New York Times reports. Futures touched $103.95 on the New York Mercantile Exchange, beating out the April 1980 record of...

Dollar Slides to Record Low;
Oil Tops $102

Feb 27, 2008 6:27 AM CST

Dollar Slides to Record Low; Oil Tops $102

Investors bet on Fed rate cut, driving euro up against US currency

(Newser) - The dollar declined against most major currencies and fell to its lowest level ever against the euro today as markets anticipated another rate cut from the Fed when it meets March 18, increasing the value of assets outside the US, Bloomberg reports. The dollar’s erosion pushed commodity prices up,...

$100 Oil Fuels Recession Fears

Feb 21, 2008 12:47 PM CST

$100 Oil Fuels Recession Fears

Speculation is driving oil up, and that's a concern for consumers, economists

(Newser) - Oil prices have jumped 16% in two weeks, and analysts tell the Christian Science Monitor the run-up couldn't come at a worse time. As the US economy flirts with recession, beleaguered consumers could end up spending their economic stimulus checks to cover even higher gas prices. The $101.32 per...

$100 Oil Extinguishes Rally

MARKETS

Feb 19, 2008 4:11 PM CST

$100 Oil Extinguishes Rally

After three-digit gain, the Dow ends down

(Newser) - After three-digit Dow gains, today's record surge in oil prices knocked out a broad rally, and the major indexes closed in the red. Analysts say the market won't be able to sustain a prolonged rally for some time. "The rallies we're seeing now are just bounces, not a new...