barrel oil

Suck It, OPEC

Tue, 21 Oct 2008 15:20:02 -0500

Now that the price of oil has fallen to much more comfortable levels, OPEC wants to step in and protect $100 per barrel oil. If this isn't Exhibit A as to why we need to get off oil -- and subsequently stop sucking at the teet of the Middle East -- I don't know what is.

Oil Prices Fall Below $90 a Barrel

Mon, 06 Oct 2008 18:56:26 -0500

Oil prices fell below $90 a barrel for the first time since February, and weak global demand has prompted predictions of further drops.

Oil Continues to Slip Near $100 a Barrel

Thu, 11 Sep 2008 15:38:25 -0500

Oil prices continued their sharp decline as investors shrugged aside worries about the impact of Hurricane Ike.

Oil steady above $145 in Asia on Saudi declaration

Sun, 06 Jul 2008 06:00:45 -0500

Oil prices remained near record highs above $145 a barrel in Asia after Saudi Arabia's oil minister suggested his country doesn't plan to boost production.

Light, sweet crude for August delivery was up 23 cents at $145.52 a barrel in Asian electronic trading on the New York Mercantile Exchange, midafternoon in Singapore. Crude futures rose to $145.85, a record high, in New York on Thursday before settling at a record finish of $145.29 a barrel.

Oil prices have risen more than 50 percent so far this year.

Oil prices hold above $128 a barrel

Fri, 06 Jun 2008 18:01:31 -0500

Oil held near $128 a barrel Friday in Asia after rising more than $5 overnight as the dollar swooned against the euro in response to comments by the head of the European Central Bank.

The dramatic reversal in what had been a weakening market came after ECB President Jean-Claude Trichet suggested the bank could raise interest rates and the euro climbed against the dollar. When interest rates rise in Europe, or fall in the U.S., the dollar tends to weaken against the euro. Many investors tend to buy commodities such as oil as a hedge against inflation when the dollar is falling.

High Oil Prices Taking Toll on Tech Industry

Fri, 06 Jun 2008 12:27:06 -0500

Oh boy, just when we thought we were out of the woods, high oil prices are pulling us back in again. Oil prices skyrocketed by $7 a barrel today to $135 a barrel, gathering even more momentum after Thursday's big bump-up, and that, unfortunately, is the good news. A new report from a key Morgan Stanley analyst predicted prices could hit $150 by the Fourth of July. If you don't think that rising oil and energy prices don't impact technology companies, you're mistaken. Technology companies rely on the normally-reliable U.S. consumer to ride them out of recessions. But with $150 a-barrel oil...

OPEC President Sees $200 a Barrel Oil Possible

Mon, 28 Apr 2008 14:18:03 -0500

OPEC President Chakib Khelil does not rule out oil prices reaching $200 a barrel, even though supply is adequate, because the market is driven by the dollar's slide, Algerian government newspaper El Moudjahid reported on Monday.

Oil Prices Rise Above $96 a Barrel

Tue, 19 Feb 2008 00:37:40 -0600

Oil prices rose Tuesday in Asia as investors eyed the possibility that OPEC may cut production just ahead of the second quarter, when gasoline demand in the Northern Hemisphere usually becomes the central focus of the market.