Energy Markets

Are U.S. Oil Wells More Important than OPEC?

Posted by: Stanley Reed on December 04 US stripper wells will be the key to determining oil prices over the next couple of years rather than OPEC. Bernstein analysts Ben Dell and Neil McMahon made that argument in a...

Crude oil closes lower Thursday

Published: Dec. 4, 2008 at 5:42 PM Quotes delayed at least 20 mins. NEW YORK, Dec. 4 (UPI) -- Crude oil prices dropped to less than $44 a barrel Thursday on the New York Mercantile Exchange, hitting its lowest closing price in...

Oil industry faces lower prices

Published: Dec. 4, 2008 at 7:30 PM HOUSTON, Dec. 4 (UPI) -- A drop in oil prices from a record high of $147 a barrel this summer to $46.10 Thursday has squeezed the U.S. oil industry, analysts said. The Christian Science...

4. Malaysians paying a premium for fuel

MALAYSIANS were paying RM1.52 per litre for petrol when crude oil was below US$50 per barrel 3½ years ago. Based on crude oil price at US$50 per barrel, the market price for RON 97, the most popular petrol grade sold at local...

Gold slips on dollar and oil

LONDON (Reuters) - Gold slipped on Thursday, slightly extending losses made on the back of the firmer dollar earlier in the session, as the European Central Bank cut rates by a larger than expected 75 basis points.

Energy shares send TSX tumbling as oil moves closer to US$40; N.Y. also declines

TORONTO - The Toronto stock market shed more than 200 points Thursday as commodity stocks were hammered by lower metal and oil prices. The S&P/TSX composite index surrendered 239.14 points to finis...

Bernanke On Housing: 'More Needs To Be Done'

Retail, Jobless Numbers Announced POSTED: 5:15 am EST December 4, 2008 UPDATED: 2:53 pm EST December 4, 2008 Federal Reserve Chairman Ben Bernanke called on the government to ramp up efforts to stem home foreclosures that are...

Obama Goes Quiet on Big Oil Tax as Prices Drop

The plan was for a windfall-profits tax for oil over $80 a barrel. Now that it's under $50, some are upset that the issue is being dropped President-elect Barack Obama won't pursue a windfall-profit tax on oil companies because...

Average gas price falls below $1.80

AAA survey declines for 78th straight day, with gas above $2 a gallon in only 3 states. Paste this link into your favorite RSS desktop reader NEW YORK (CNNMoney.com) -- The average gas price in the United States fell below...

Poor outlooks, energy batter stocks

NEW YORK (Reuters) - Stocks fell on Thursday as a sharp decline in oil prices sent the energy sector tumbling and disappointing profit outlooks from large companies such as Merck raised the specter of a worsening economy.

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