crude prices

Asian stock markets dropped sharply Monday, led by exporters like Canon and LG Electronics, amid worries over slowing global demand and crude prices as Hurricane Gustav bore down on Gulf Coast oil operations.

Texas oil billionaire T. Boone Pickens said on Thursday crude prices may soon fall as low as $110 a barrel amid falling gasoline demand, but should not sink below $100 because the United States depends heavily ...

Gold closed lower for a fourth straight session Wednesday as another drop in crude prices coupled with a stronger dollar diminished the metal's appeal as a safe-haven asset.

Lifted by record crude prices, Chevron says its profit rose 11 percent from a year ago, capping another round of massive earnings for the major oil companies.

Not long ago, it seemed like the worst was over. As the first quarter wound down, the credit crisis appeared to be easing, the housing market seemed like it might get some footing and Wall Street was growing confident that it had finally found a bottom after months of volatility.

No one expected oil would shoot up 30 percent in just three months.

Mirina Kakalanos has been forced to double prices at her family's shoe store in the last year. Customers turn away after browsing the pumps and sandals, but Kakalanos says she has no choice.

'There is less money coming in, and more costs to cover,' said the 40-year-old mother of three, whose Greek immigrant father opened the shop after moving to Venezuela in search of a better life.

Now she barely makes enough to get by.

Setting the tone expected for the world's big oil companies, ConocoPhillips said Thursday its first-quarter earnings benefited mightily from record crude prices to start the year, though those same high levels squeezed results at its refining operations.

Crude prices rebounded Thursday, shooting up more than $2 a barrel to another new record as a falling dollar and the prospect of lower interest rates attracted fresh money to the oil market.

Retail gas prices, meanwhile, rose closer to records above $3 a gallon.

Crude prices extended their march into record high territory Thursday, shooting up more than $2 a barrel as a falling dollar and the prospect of lower interest rates attracted more investors to the oil market.

Retail gas prices, meanwhile, rose closer to records above $3 a gallon.

Oil futures shot to a new record above $100 Tuesday for the first time since Jan. 3 as investors bet that crude prices will keep climbing despite evidence of plentiful supplies and falling demand.

At the pump, gas prices rose further above $3 a gallon.