Oil & Gas
Is Alaska big enough for celebrity Palin?
ANCHORAGE, Alaska (AP) Oprah wants her, and so do Letterman and Leno. Fresh from her political defeat, Sarah Palin is juggling offers to write books, appear in films and sit on dozens of interview couches at a rate that would be astonishing for...
Oil dips under $50 on fears of deep recession
Oil prices plunged over $3 Thursday, briefly dipping below $50 a barrel as 16-year high U.S. unemployment figures and plummeting stock markets caused investors to price in lower crude demand. Light, sweet crude for December delivery was down $3.25 to...
Oil hits 3-year lows; gas less than $2 half of US
COLUMBUS, Ohio (AP) Oil prices have hit levels not seen in more than three years and retail gasoline prices are below $2 in nearly half of the country. Oil prices Thursday fell as low as $49.75 a barrel, levels last seen on May 18, 2005, when oil...
Oil falls; Americans cut driving by 90B miles
SIOUX FALLS, S.D. (AP) Oil slipped below $54 a barrel Wednesday as stock markets across the globe fell and yet another U.S. government report illustrated the disarray in the housing market. U.S. motorists, stung by record gasoline prices, job losses...
Oil prices fall with global stock markets
SIOUX FALLS, S.D. (AP) Oil slipped below $54 a barrel Wednesday as stock markets across the globe fell and yet another U.S. government report showed how badly the housing market has been hit. Governments, businesses and consumers cut back on energy...
OPEC to meet in hopes of halting crude's fall
VIENNA, Austria (AP) Oil prices held steady Friday after OPEC announced it would meet this month to address crude prices that have fallen 60 percent in just four months. The Organization of Petroleum Exporting Countries held and emergency meeting...
Oil steady at $58, underpinned by stock rally
SINGAPORE (AP) Oil prices were steady around $58 a barrel Friday in Asia after rising overnight as traders took their cue from a jump in global stock markets. Light, sweet crude for December delivery was down 24 cents to $58.00 a barrel, after...
Lower heating costs predicted this winter
WASHINGTON (AP) The dramatic drop in world oil prices means a break this winter in heating costs, especially for the eight million households, primarily in the Northeast, that rely on fuel oil, the government says. Gasoline prices, which have declined...
Oil prices follow Wall Street on wild ride
COLUMBUS, Ohio (AP) Oil prices swung wildly Thursday following a lead from Wall Street, which sank 300 points before investors flooded back into the market. Light, sweet crude for December delivery rose $2.08 to settle at $58.24 on the New York...
Texas gasoline prices average $2 per gallon
HOUSTON (AP) Motorists in Texas are paying about half as much for a gallon of gasoline as they did four months ago. AAA Texas on Thursday reported the average retail price of gasoline slipped 13 cents this week, to settle at $2 per gallon. The...
Oil nears $63 on higher stock markets
SIOUX FALLS, S.D. Oil prices jumped to nearly $64 a barrel Monday as world stock markets rallied on news of a massive Chinese economic stimulus plan that could underpin demand for crude. The weakening in the U.S. dollar, partially driven by the...
Oil back under $61 after 2-day plunge
Oil prices seesawed Friday after a report showed 240,000 U.S. jobs were slashed in October, driving the unemployment rate to a 14-year high and suggesting that both businesses and consumers will cut back even more on energy use. By the afternoon in Europe,...
Russia, Iran, Qatar discuss OPEC-style gas cartel
TEHRAN, Iran Russia, Iran and Qatar took their first serious steps toward forming an OPEC-style cartel for natural gas on Tuesday, a prospect that has unnerved energy-importing nations in Europe and the United States. The three countries together...
Oil falls below $71 as dollar gains against euro
NEW YORK Oil prices slumped back below $71 a barrel Tuesday as a stronger dollar overshadowed expectations of a sizable OPEC output cut and led investors to shed commodities bought as an inflation hedge. At the pump, consumers got another price...
Gasoline prices tumble despite likely OPEC cuts
NEW YORK Consumers got another break at the gas pump Monday, as prices dropped further below $3 a gallon and approached year-ago levels even as the near-certainty of an OPEC production cut pushed oil prices marginally higher. Gasoline has fallen...
Oil rises above $84 as financial panic eases
LONDON Oil prices climbed above $84 a barrel on Tuesday on hopes the economic fallout from the financial crisis would be curbed by U.S. and European government pledges to pump capital into the banking sector. Light, sweet crude for November delivery...
Will cheap gas mean return to gas-guzzling ways?
DENVER Prices at the pump are dropping fast, and gas could fall below $3 a gallon in a matter of weeks, if not sooner. Does that mean Americans will return to their heedless, gas-guzzling ways? Experts say no because most drivers assume the dip...
Oil plunges to 13-month low on global slowdown
NEW YORK The stunning collapse in oil markets accelerated Friday, sending a barrel of crude plunging below $78 as investors grow more pessimistic about resolving a mushrooming global economic crisis. Oil hasn't been this cheap in 13 months - a...
Natural gas drillers make cuts, but not in Arkansas
LITTLE ROCK, Ark. A top executive of Southwestern Energy Co. says gas wells in the Fayetteville Shale play in Arkansas remain economically feasible, even though natural gas prices are down. John Thaeler, senior vice president of the largest player...
Oil slips after job report, $700B bailout
HOUSTON Oil prices slipped in volatile trading Friday after Congress approved a historic $700 billion bailout of the nation's teetering financial industry as the longterm health of the global economy remained questionable. Investors bet down the...
Analysis: Stable Iraq could influence Mideast
BAGHDAD As violence in Iraq recedes, neighboring states are pondering how to deal with an unwieldy country that could re-emerge as a key player along with Saudi Arabia and Iran in one of the world's most strategic regions. The role of regional...
Oil trading fitful amid job report, $700B bailout
HOUSTON Oil prices slipped in volatile trading after Congress approved a historic $700 billion bailout of the nation's teetering financial industry as the longterm health of the global economy remained questionable. Investors bet down the price...
ConocoPhillips: lower crude, gas prices in 3Q
HOUSTON ConocoPhillips, the third-largest U.S. oil company, said Thursday that global production of oil and natural gas in the third quarter was likely flat or slightly below second-quarter levels, in part from disruptions caused by two storms in...
Oil falls below $94 on falling global demand
NEW YORK Oil prices closed at their lowest level in two weeks Thursday, tumbling below $94 a barrel on doubts that a revamped financial bailout plan will be enough to avoid a protracted economic slump and revive dwindling U.S. energy demand. The...
Texas gas prices fall
HOUSTON The effects of Hurricane Ike on the Texas retail gasoline market fades this week, allowing prices at the pump to fall by an average of 10 cents per gallon. The weekly AAA Texas gas price survey released Thursday showed regular-grade self-serve...
Oil down on stronger US crude, gasoline supplies
NEW YORK Oil prices dipped below $100 a barrel Wednesday as ample increases in U.S. crude and gasoline supplies added to mounting evidence that a rough economy is forcing Americans to drive less. Light, sweet crude for November delivery fell $2.11...
Oil down on stronger US crude, gasoline supplies
NEW YORK Oil prices fell below $98 a barrel Wednesday as a surprise build in U.S. gasoline supplies and a bigger-than-expected jump in crude stocks offered more evidence that a rough economy is forcing Americans to drive less. Light, sweet crude...
Oil up near $108 as bailout wins initial approval
NEW YORK Oil prices bounced higher in erratic trading Thursday as lawmakers gave preliminary approval to a U.S. financial rescue plan that could boost the economy and reverse falling domestic energy demand. Light, sweet crude for November delivery...
Oil seesaws on supply, economic uncertainties
NEW YORK Oil prices fluctuated Thursday, hovering near $105 a barrel as traders grappled with what impact a pending U.S. financial bailout plan would have on falling domestic energy demand and also monitored supply outages in the Gulf of Mexico. Light,...
Texas oil regulators approve emergency expenditure
AUSTIN Texas energy regulators, trying to cope with the biggest oil boom in decades, dipped into an environmental cleanup account Tuesday so they can whittle down a backlog of well permit requests and expand drilling. The Texas Railroad Commission...
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