crude
With U.S. gas prices near historic highs, Americans are anxious about the cost of filling up. But we still feel far less pain at the pump than drivers in many other developed nations. On the flip side, if you drive in the right world cities, you can still pay less than $1 a gallon.
Marathon Oil to Spin Off Its Refining Business
8:00PM 1/13/2011
Marathon Oil, the fifth-largest oil refiner in the U.S., is spinning off its refining business into a new company called Marathon Petroleum. Marathon Oil, meanwhile, will reduce its debt as a result of the move and will focus on oil exploration and production.
Oil prices touched a two-year high Monday on tighter inventory and expectations that a U.S. economic growth spurt will boost demand this year. Some analysts predict prices could soon gush to $100 per barrel.
Gasoline Tops $3 a Gallon for First Time at Christmas
3:05PM 12/23/2010
It may be the happiest season of the year, but higher crude oil prices that have translated into higher gasoline prices have many motorists frowning. The weak U.S. dollar and expectations of a more robust economic recovery in the coming year have helped push oil to over $90 a barrel.
Climbing Oil Prices Could Threaten Fragile Economic Recovery
2:30PM 12/04/2010
Light crude oil prices have been climbing in the last few days, closing the week at $88.94 per barrel on the NYMEX. If prices climb high enough, it could damage the still-weak economy by raising the costs of gasoline, jet fuel and petroleum-based chemicals. How high is too high?
The Organization of the Petroleum Exporting Countries will leave oil output unchanged, a delegate at the group's current meeting told Reuters. Oil ministers apparently are not worried the weak dollar will drive up the price of crude far enough that it will crimp the global economic recovery.
There's some good news for people who wait to vacation until after Labor Day weekend: at least one industry expert expects gasoline prices to go down. Tom Klonza of the Oil Price Information Service told USA Today that he believes that prices at the pump could drop by as much as 15 cents a...
Crude Oil Heads for First Quarterly Decline Since 2008
7:37AM 6/30/2010
The price of crude oil is heading for its first quarterly drop since 2008 as concerns about the pace of the economic recovery dampen demand.
Crude prices have slipped 9 percent in the last three months, despite hitting a 19-month high of over $87 a barrel in early May, Reuters reported. Since...
Oil Prices Likely to Keep Falling on Worries Over Europe
10:00AM 5/20/2010
In the last two days, oil has fallen below $70 after trading at $89.77 just weeks ago. The reverse comes just weeks after several brokerage houses said it would go over $95 in 2010.
Lucky Somali Pirates' Haul Was $120 Million Richer Than They Thought
4:00PM 12/15/2009
Contrary to earlier published reports, the hijacked U.S.-bound oil tanker Maran Centaurus is carrying about $140 million worth of Saudi crude -- not the $20 million previously claimed -- DailyFinance has learned. Reached in Greece Tuesday, a representative for Maran Tankers Management, the ship's...
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