crude

Gas Prices Around the Globe: The Highs and the Lows

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.

Oil Prices Gush to Two-Year High

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.

OPEC to Leave Oil Output Unchanged

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.

Crude Oil Heads for First Quarterly Decline Since 2008

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 May, Reuters reported. Since then, doubts about consumer spending in the United States and China, combined with concerns over a potential debt crisis in Europe, have strengthened the dollar and increased risk aversion. That means weaker demand for commodities such as oil.

Oil Plunges on Worries Over Europe

In the last two days, oil has fallen below $70 after trading at $89.77 just two weeks ago. The extraordinary reverse comes just weeks after several brokerage houses said it would go over $95 in 2010. But worries over Europe are likely to keep weighing on oil prices.

OPEC to hold supply steady, again

OPEC has been fairly quiet recently. There have not been the usual comments from members that prices are too low for their economies to prosper. That...

Oil and inflation

The price of oil has nearly doubled from its lows in the first quarter. Now analysts are asking if inflation can be far behind. Crude is such a...