December 27, 2008 - Industry News
NEW YORK --- For the first time in four days, crude oil futures rose Friday as traders bought the contracts following their 9.3 percent slump in the previous session, MarketWatch reported.
Tags: oil prices, OPEC
December 22, 2008 - Industry News
NEW YORK --- Crude oil on Monday fell more than $2 a barrel on speculation that OPEC will fail to boost prices as the global recession continues to curb demand, Bloomberg reported.
Tags: oil prices
December 15, 2008 - Industry News
NEW YORK --- The Organization of Petroleum Exporting Countries is expected to lower output targets by at least 2 million barrels a day, or 7.3 percent, when its members meet Dec. 17, according to 18 of 33 analysts surveyed by Bloomberg.
December 8, 2008 - Industry News
NEW YORK --- Oil prices rebounded from four-year lows and rose above $43 a barrel Monday as OPEC floated the option of a "severe" production cut and several countries announced new plans to stimulate their economies.
December 1, 2008 - Industry News
NEW YORK --- Crude oil fell below $50 a barrel today after the Organization of Petroleum Exporting Countries postponed a decision to reduce output until its next meeting on Dec. 17, Bloomberg reported today.
November 29, 2008 - Industry News
CAIRO, Egypt --- OPEC has postponed a decision on whether to cut production again this year, Bloomberg reported. OPEC will take any "additional action" needed to stabilize the market at a summit in Oran, Algeria, on Dec. 17.
November 24, 2008 - Industry News
SIOUX FALLS, SD --- Light, sweet crude for January delivery climbed on Monday nearly 6 percent, or $2.94, to $52.87 a barrel on the New York Mercantile Exchange, the Associated Press reported.
November 10, 2008 - Industry News
NEW YORK --- Oil prices didn't shift much today, as demand concerns continued to weigh on investors' minds despite announced plans for a stimulus package from the Chinese government, CNNMoney.com reported.
November 3, 2008 - Industry News
NEW YORK --- Crude-oil futures dropped more than $2 a barrel today, amid lingering concerns about demand, the Wall Street Journal reported.
October 26, 2008 - Industry News
VIENNA, Austria --- After an emergency meeting in Vienna, OPEC announced plans to cut production by 1.5 million barrels a day in an effort to buoy crude oil prices, the Los Angeles Times reported.
October 20, 2008 - Industry News
NEW YORK --- Crude oil climbed more than $2 a barrel today on signs that the Organization of Petroleum Exporting Countries may cut output to stop a 50-percent drop in prices since July, Bloomberg reported.
September 22, 2008 - Industry News
WASHINGTON, D.C. --- An independent study of oil markets concludes that speculation by large investors -- not supply and demand -- was a primary reason for the surge in oil prices during the first half of this year and for the subsequent price declines.
Tags: Masters Capital Management study, oil prices
NEW YORK --- Oil prices spiked more than $25 a barrel Monday, Sept. 22, the biggest one-day price jump ever, the Associated Press reported. The price surge was prompted by anxiety over the government's $700 billion bailout plan for the financial markets.
September 8, 2008 - Industry News
SAN FRANCISCO --- Crude futures fell from a high of nearly $110 per barrel Monday, amid a rally in the U.S. stock market and the strengthening of the U.S. dollar. However, energy traders are still weighing Hurricane Ike's potential to disrupt oil production.
Tags: Hurricane Ike, oil prices
September 5, 2008 - Industry News
SAN FRANCISCO --- Crude-oil futures fell below $106 per barrel Friday, in position to end the week with a loss of more than 8 percent with no immediate threat to U.S. energy output, a slowdown in global demand still a concern and uncertainty surrounding a meeting of key oil producers next week, Marketwatch reported.
Tags: New York Mercantile Exchange, oil prices
September 2, 2008 - Industry News
NEW YORK --- Oil prices dropped more than $6.50 per barrel on Tuesday, September 2, representing the biggest drop in dollars since 1991, Reuters reported.
August 18, 2008 - Industry News
SAN FRANCISCO --- Crude-oil futures closed below $113 a barrel on Monday, Aug. 18, reflecting the sluggish demand for oil worldwide, MarketWatch reported.
Tags: crude oil futures, oil prices
August 4, 2008 - Industry News
NEW YORK --- Crude oil fell below $120 a barrel for the first time since May, after weather reports suggested that Tropical Storm Edouard will miss most offshore oil facilities as it approaches the coast of Texas, Bloomberg reported.
Tags: oil prices, Tropical Storm Edouard
July 28, 2008 - Industry News
NEW YORK --- U.S. crude for September delivery climbed $1.47 to settle at $124.73 a barrel today on the New York Mercantile Exchange, after investors weighed signs of mounting geopolitical tensions in oil-supplying countries.
July 21, 2008 - Industry News
NEW YORK --- During a three-day stretch last week, oil prices tumbled nearly $16, prompting some analysts to question whether the oil bubble had finally burst.
July 14, 2008 - Industry News
NEW YORK --- Oil prices rose above $145 a barrel on Monday, July 14.
June 30, 2008 - Industry News
NEW YORK --- The price of crude oil fluctuated Monday, June 30, surging past $143 a barrel for the first time before declining again.
June 23, 2008 - Industry News
NEW YORK --- A Saudi Arabia-hosted emergency energy summit meeting over the weekend, aimed at addressing consumer nations' concerns over skyrocketing oil prices, has failed to provide near-term relief.
Tags: oil prices, Saudi Arabia energy summit
June 16, 2008 - Industry News
NEW YORK --- Crude oil futures nearly approached $140 a barrel Monday, June 16, despite Saudi Arabia's promise to boost production, the Associated Press reported.
Tags: oil prices, Saudi Arabia
June 8, 2008 - Industry News
NEW YORK -- The price of crude oil soared to a record high on Friday, June 6, rising $10.75 a barrel to reach $138.54. That's the biggest one-day surge ever.
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