Category Archives: Gas or Oil

Drivers catch a break as gasoline prices fall

By doris | Published: June 24, 2011

Full Story atnews.Yahoo.com NEW YORK – A summer road trip may not be such a bad idea after all. Gasoline prices are falling fast. In the past 7 weeks, the average U.S. retail prices has dropped 38 cents to $3.60 per gallon. Another 25-cent drop is expected by mid-July. When prices approached $4 in early [...]

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Oil tumbles on plan to release int’l reserves

By doris | Published: June 23, 2011

Full Story at news.Yahoo.com NEW YORK – Oil tumbled Thursday after the International Energy Agency, which includes the U.S., said it will release some of its emergency oil supplies to stave off a possible spike in energy prices that could strain the global economic recovery. The IEA, based in Paris, will make 60 million barrels [...]

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Oil falls below $94 amid stronger US dollar

By doris | Published: June 19, 2011

Full Story at msnbc.com Oil prices dropped below $94 a barrel Friday amid a stronger dollar and renewed concerns about demand for crude after mixed signs about the U.S. economy. By early afternoon in Europe, benchmark oil for July delivery was down $1.45 to $93.50 a barrel in electronic trading on the New York Mercantile [...]

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Natural gas prices heating up

By doris | Published: June 14, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Natural gas prices could double over the next several years as U.S. producers gain access to international markets and excess supplies begin to shrink. After nearly collapsing in the aftermath of the recession, natural gas prices have managed a nice post-recession recovery and are up 3% this [...]

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Watch out for falling gasoline prices

By doris | Published: June 11, 2011

Full Story at msnbc.com The failure of oil-producing nations to agree this week on boosting output sparked worries that the price of crude and gasoline could be headed higher again. But a number of oil industry watchers think those worries are misplaced. “Right now the real story is not so much what’s happening in Vienna,” [...]

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ExxonMobil strikes oil in Gulf of Mexico

By doris | Published: June 8, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — ExxonMobil announced on Wednesday that it struck oil in the Gulf of Mexico, a discovery that could yield 700 million barrels. The company said that its first post-moratorium deepwater exploration well struck a second new source of oil and also includes a source of natural gas. “This [...]

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Patriotism pays off

By doris | Published: May 28, 2011

Full Story at msnbc.com NEW YORK — There’s less money this summer for hotel rooms, surfboards and bathing suits. It’s all going into the gas tank. High prices at the pump are putting a squeeze on the family budget as the traditional summer driving season begins. For every $10 the typical household earns before taxes, [...]

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High gas prices change holiday travel plans

By doris | Published: May 27, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — The high price of gas is forcing many Americans to change their travel plans for the Memorial Day weekend, according to a survey released Friday. A CNN/Opinion Research poll showed that one in four adult Americans have altered their plans for this weekend because of high gas [...]

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Mississippi floods threaten gas prices

By doris | Published: May 19, 2011

Full Story atmoney.cnn.com NEW YORK (CNNMoney) — Nearly 15% of the nation’s refining capacity and hundreds of oil wells are at risk as the flood crest along the swollen Mississippi river makes its way into Louisiana over the next few days. Flooded refineries would have the most impact on the nation’s oil infrastructure and, hence, [...]

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Crunch! Oil, gold and silver all drop

By doris | Published: May 17, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Commodity prices took a tumble Tuesday, as disappointing housing data and a stronger dollar pushed already nervous investors out of the market. Crude oil for June delivery lost 0.47%, falling 46 cents to $96.91 a barrel, while gold dropped 0.71%, or $10.60, to $1,480.00 an ounce. Silver [...]

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Obama to announce steps to speed oil drilling

By doris | Published: May 14, 2011

Full Story at  CNN.com Washington (CNN) — With gas topping $4 a gallon, President Barack Obama on Saturday will announce new plans to speed up domestic drilling for oil. In his weekly address to the nation, the president will outline his plans for what he calls “safe and responsible” oil production. The Obama administration will [...]

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Big Oil execs hit back on tax proposal

By doris | Published: May 12, 2011

Full Story atmoney.cnn.com NEW YORK (CNNMoney) — Dragged before Congress as gas prices explode at the pump, oil executives mounted a vigorous defense of their business practices on Thursday — pushing back against plans to eliminate tax breaks for the “big five” oil and gas companies. All five executives acknowledged rising prices at the pump, [...]

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Stocks stumble as oil prices plunge

By doris | Published: May 11, 2011

Full Story at CNNMoney NEW YORK (CNNMoney) — Stocks fell sharply Wednesday, as energy and materials stocks were particularly hard hit by a sell-off in oil and gasoline futures. “Commodities are getting crushed here, and it’s taking the whole market with it,” said David Rovelli, managing director of U.S. equity trading at Canaccord Adams.

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Oil price collapse pays off for one speculator

By doris | Published: May 8, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — For the last several weeks, oil trader Stephen Schork has been betting that prices would fall. Instead, they kept rising. And every day they ticked higher, he lost money. On Monday his luck finally turned around. Prices started to collapse and have slid 12% in the span [...]

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