oil prices

Stories 341 - 360 | << Prev   Next >>

Iraq's Toll Spirals Into Trillions
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

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
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
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
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
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

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
$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
$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...

Soaring Prices Lure Oilmen Back to Oil City

Rural Pa. sees rush to claim scraps from played-out fields

(Newser) - The world’s first commercial oil well was in Oil City, Pa., which saw its fortunes fall along with the crude supply. Now that prices are at historic highs, Oil City is part of a renaissance. The easy crude is long gone, but a motley assortment of would-be barons is...

Venezuelan Prez Threatens to Cut Off US Oil

If Exxon wins court action seeking assets, Chavez vows revenge

(Newser) - Venezuelan President Hugo Chavez is threatening to cut off US oil supplies if Exxon Mobil wins a court ruling to seize billions of dollars in Venezuelan assets, AP reports. The Texas-based oil giant has challenged Venezuela’s efforts to nationalize a multi-billion-dollar oil project, and the fiery leader promised an...

United to Charge Fee for Second Bag

Other carriers may follow suit as airline tacks on $25 for extra suitcase

(Newser) - Many United Airlines travelers planning to check in more than one piece of luggage are going to have to pay for it, beginning this spring. Passengers buying nonrefundable economy tickets will have to fork over $25 for a second bag as the airline seeks to offset soaring fuel costs without...

OPEC Holds Oil Production Steady
OPEC Holds
Oil Production Steady
Feb 1, 2008 1:00 PM CST

OPEC Holds Oil Production Steady

As expected, consortium rebuffs US call to boost supply

(Newser) - OPEC dashed American hopes for a boost in oil production today, Bloomberg reports. The US and other Western nations wanted more oil on the market to lower prices, but OPEC decided to hold production steady. The consortium, which supplies 40% of the world's oil, is worried that the flagging world...

Bush Begs Saudi King for Oil
Bush Begs Saudi King for Oil
Jan 16, 2008 2:31 PM CST

Bush Begs Saudi King for Oil

Public plea rejected, Bush entreats Abdullah personally

(Newser) - After his public request for increased oil production and the resulting price drop was rejected yesterday, President Bush made a personal appeal to Saudi Arabia's King Abdullah to be more generous with his wells, ABC News reports. Only an hour after Bush’s public plea, the Saudi oil minister announced...

Traders Gamble on $200 Oil
Traders Gamble on $200 Oil
Jan 8, 2008 6:24 AM CST

Traders Gamble on $200 Oil

Did you think $100 was high?

(Newser) - You thought $100 a barrel was high. Options to buy oil for $200 a barrel have grown tenfold on the Nymex exchange in recent weeks, Bloomberg reports. Speculators use oil futures to bet on expected price hikes. While $200-a-barrel options remain only a small proportion of the total, the number...

Bush Cops to Economic Uncertainty
Bush Cops
to Economic Uncertainty
Jan 8, 2008 6:00 AM CST

Bush Cops to Economic Uncertainty

Without uttering the 'R word,' prez allows, 'Americans are anxious'

(Newser) - Rising oil prices, a crashing job market, and a tenacious mortgage crisis have created “economic challenges” for the US, President Bush said in Chicago yesterday, a shift from his insistence that the economy is fundamentally strong. While acknowledging “Americans are anxious about the economy,” Bush stopped short...

$200 Oil on Horizon: Economists
$200 Oil on Horizon: Economists
Jan 3, 2008 3:13 PM CST

$200 Oil on Horizon: Economists

Decreasing supply will mean increasing prices

(Newser) - The price of oil could surge to $150 in five years and $200 in 10 years, a prominent German economic institute reports. "Oil supplies are becoming increasingly scarce and that will continue to drive up prices," said one energy expert. Oil prices hit $100 yesterday for the first...

Sky-High Oil Will Reshape World Power, Dent US Clout

Power shifts as global economies change

(Newser) - The surging price of oil from $10 a barrel a decade ago to a record $100 today is remaking the global economy and altering the balance of power across the world, according to the Wall Street Journal. If oil prices continue to climb, as many experts predict, US political power...

Oil Hits Record $100 a Barrel
Oil Hits Record $100 a Barrel
Jan 2, 2008 11:11 AM CST

Oil Hits Record $100 a Barrel

Disruptions in Nigeria, Mexico stoke supply concerns

(Newser) - Crude oil prices jumped $4.02 today to push past $100 a barrel for the first time as Nigerian violence, disrupted Mexican exports, and the specter of dipping US stockpiles stoked supply fears in the face of ever-rising energy demands, CNNMoney reports. The previous record was $99.29, set November...

2008 Forecast: Oil Prices Dip as Supply Rises, Economy Slows

$80-$85 a barrel would aid consumers

(Newser) - A slowing US economy and rising oil production will lower the price of crude to between $80 and $85 a barrel in 2008, predicts the Christian Science Monitor. While still higher than the $71 average for 2007, it’s a drop from current prices near $93. Lower prices could ease...

Stories 341 - 360 | << Prev   Next >>
Most Read on Newser