Oil Prices Fall as US 'Fiscal Cliff' Approaches
Oil prices fell as much as $2 a barrel Friday as doubts grew about whether political leaders in Washington could reach a deal on the fiscal cliff before the new year.
Brent Crude
Gas Pump Prices Fall in Wake of Hurricane Sandy
The price of gasoline fell Tuesday after Hurricane Sandy left a wide swath of flooding, power outages and disrupted transportation in the eastern U.S.
Oil Price Soars on Supply Jitters
The price of oil rose more than 3 percent Tuesday on concerns about supplies from the Middle East and the North Sea.
Gold Tops the List of the Fourth Quarter's Likely Winners
Most commodities rallied in the third quarter, but can they hold on to their advance? Read on, and find out which ones still have legs to dance their way higher, and which are poised to take a tumble. The short answer to that from analysts is that gold and oil are likely to advance, while grains and sugar are among those that probably won't, but there will be a lot of different factors to consider.
Oil Rises on Bullish US Manufacturing Data
The price of oil is climbing on reports that U.S. factories have cranked into a higher gear. Benchmark U.S. crude increased Monday by $1.07 to $104.09 per barrel in New York while Brent crude rose by 68 cents to $123.56 per barrel in London.
Oil Near $106 as US Denies Plan to Release Crude
Oil prices rose slightly to near $106 a barrel Friday in Asia after the U.S. denied reports it and Britain plan to release some their strategic crude reserves. Benchmark oil for April delivery was up 40 cents to $105.51 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 32 cents to settle at $105.11 per barrel in New York on Thursday. Brent crude for May delivery was up 55 cents at $123.15 per barrel in London.
Western Refining Has Slick Profit Potential
During most of June, Western Refining followed the rest of the market down, dipping as much as 16.5%. However, its shares have since perked up -- and they have much farther to rise. The refiner is in a prime position to take advantage of a wide spread between the price of crude oil and gasoline.
The Financial Landscape: OPEC Quotas and 'Too Big to Fail'
The theme for Thursday is big players adjusting to a changing world: Citigroup is shutting down a major hedge fund it used for soon-to-be-banned proprietary trading, Goldman has been subpoenaed over its role in the subprime mortgage crisis, and OPEC is thinking that it might need to pump more oil.
Will Saudi Arabia's Gambit Drive Oil Prices Even Higher?
Saudi Arabian Oil Minister Ali al-Naimi said his country cut oil production in March because the market was oversupplied. Was this move an honest bid to a bid to expose the speculators and push prices back down, or an attempt to capitalize on the current instability to propel prices higher?
Higher Pump Prices? Yes.
But Not $5 a Gallon
Americans could see gasoline spiking 10% to 18% higher in coming weeks as a result of the unrest in the Middle East, but they're unlikely to rocket as high as some are predicting -- unless the uprisings spread to Saudi Arabia. In that case, all bets are off.
Oil Prices: Egypt's Crisis Could Hurt Europe First
Even though no reports of supply disruptions have surfaced, Brent crude hit $100 a barrel in London trading, while U.S. prices hit $92. Europe is more vulnerable because much of its crude flows through the Suez Canal and adjacent pipelines.