Articles Tagged 'oil prices'
Oil Prices Rise Ahead of OPEC Production Cuts
Oil prices were moving higher on Tuesday as investors appear more confident that OPEC and non-OPEC producers will make the production cuts needed to balance… READ MORE
As oil prices plunge, wide-ranging effects for consumers and the global economy
Tumbling oil prices are draining hundreds of billions of dollars from the coffers of oil-rich exporters and oil companies and injecting a much-needed boost for ailing economies in Europe and Japan — and for American consumers at the start of the peak shopping season.
The result could be one of the biggest transfers of wealth in history, potentially reshaping everything… READ MORE
Pain at the Gas Pump Continues to Hurt Families, Businesses
ByÂ U.S. Rep. F. James Sensenbrenner
On Sunday, the average price for a gallon of unleaded gasoline in the Milwaukee area hit $4.07. When President Obama took office, it was $1.89. Higher energy costs are a burden on American families and threatening our economic recovery.
In 2011, the average household spent an estimated $4,155 at the pump.Â In total that… READ MORE
Comin’ this summer… $5 gas
By PAUL THARP, The New York Post
The forecast for the summer driving season: Hit the road early. Not to beat the traffic, but to beat the higher gas prices expected in mid-July.
Goldman Sachs’ crystal ball is proclaiming that oil will soon soar to $135 a barrel, and likely have service stations jacking up fuel prices to $5 a… READ MORE
Saudi Arabia, Abu Dhabi Raise Oil Prices: Persian Gulf Oil
ByÂ Anthony DiPaolaÂ -Bloomberg
Saudi Aramco, the worldâ€™s largest oil exporter, raised its official selling prices for all crude grades to customers in Asia and Northwest Europe for April shipments and cut prices to buyers in the U.S.
Abu Dhabi National Oil Co., the state-run producer in the capital of theÂ United Arab Emirates, lifted official prices to 30-month highs… READ MORE
British motorists facing $9 a gallon at the pump due to Libya crisis
By David Millward, The Telegraph
The cost of unleaded has broken the barrier in 267 forecourts already and the number is set to increase sharply over the next few days.
Brian Madderson, chairman of RMI Petrol, the filling stationsâ€™ trade body, said motorists will be paying 10 pence a litre more by the end of April because of the looming… READ MORE
Oil prices surge on fear of Libyan unrest
By Patrice Hill-The Washington Times
Oil prices soared and global stocks plunged Monday on signs that Libya, a major exporter, will cut oil production amid spreading violence and unrest.
Libyan leader Moammar Gadhafiâ€˜s son, Seif al-Islam, warned that Libyaâ€˜s oil wealth â€œwill be burnedâ€ if the unrest leads to civil war, while an influential Libyan tribal leader offered a counterthreat… READ MORE
Egyptian Civil Strife Sends Oil Close To $100 On Suez Canal Fears
By Agustino Fontevecchia, Forbes.com
Investors have their eyes on Egypt as civil unrest in the North African country has progressively escalated into a full blown… READ MORE