oil prices – News Stories About oil prices - Page 12

MARKETS

Jul 17, 2008 3:35 PM CDT

Stocks Continue Strong Rally

Dow up 207 points; third consecutive day of falling oil prices helps

(Newser) - The markets continued yesterday’s rally as oil kept falling—hitting a low of $131 a barrel for the first time in 6 weeks—and traders bought up financial shares with renewed confidence, the Wall Street Journal reports. The Dow gained 207.38 points to close at 11,446.66;...

Markets Surge on Oil, Financials

MARKETS

Jul 16, 2008 3:27 PM CDT

Markets Surge on Oil, Financials

Another drop in crude, good news from Wells Fargo brings out the bulls

(Newser) - The markets rallied big today, as the price of oil fell for a second day and financials regained some of the ground lost in recent chaotic sessions, the Wall Street Journal reports. The Dow gained 276.74 to go back over the 11,000 mark, at 11,239.28. The...

US Smacked by
the Invisible Hand

ANALYSIS

Jul 16, 2008 2:12 PM CDT

US Smacked by the Invisible Hand

Americans are moving away from faith in free market

(Newser) - Are we losing confidence in market mechanisms? Years of unfettered free markets contributed to the current gloomy economic situation, and even the market-championing White House has lurched into government regulation of the financial world, the Los Angeles Times reports. With housing prices falling and oil prices rising, “the message...

Dow Sinks Below 11K

MARKETS

Jul 15, 2008 3:34 PM CDT

Dow Sinks Below 11K

Fannie, Freddie continue to sink; regional banks hit hard

(Newser) - The markets ended mixed today after a seesaw session. An $8 decline in crude encouraged investors, but concerns about the fate of the mortgage GSEs and regional banks persisted, MarketWatch reports. The Dow ended down 93.39 at 10,961.80, the first time in over 2 years the average...

Road Deaths Drop as Gas Price Soars

Jul 12, 2008 7:30 AM CDT

Road Deaths Drop as Gas Price Soars

Study estimates $4 gas will prevent 1,000 deaths a month

(Newser) - The record-breaking gas prices putting the squeeze on American drivers may be a lifesaver for some, reports the AP. Experts crunched 20 years of data and discovered that auto deaths fell 2.3% for every 10% hike in gas prices. When gas went up, people drove slower and bought safer...

Mortgage Worries Stalk Stocks

MARKETS

Jul 11, 2008 3:49 PM CDT

Mortgage Worries Stalk Stocks

Anxiety over Freddie, Fannie, plus higher crude, gives markets a bad day

(Newser) - The markets saw losses today, battered by continued worries over the solvency of mortgage guarantors Fannie Mae and Freddie Mac and a fresh spike in crude prices, MarketWatch reports. The Dow fell 128.48, to 11,100.54. The Nasdaq shed 18.77, closing at 2,239.08, while the...

US Airways Jettisons Movies

Jul 10, 2008 3:18 AM CDT

US Airways Jettisons Movies

Move will cut weight and save $10M in fuel and other costs

(Newser) - Rising oil prices may spell the end of the in-flight movie—at least on domestic flights. US Airways will become the first airline to rip out the in-flight entertainment systems from 200 jets plying domestic routes to save $10 million in fuel and other costs, reports BusinessWeek. The systems, which...

Tech Triggers Big Drop

MARKETS

Jul 9, 2008 3:37 PM CDT

Tech Triggers Big Drop

Trouble at Cisco, Intel spurs sell-off; bumpy ride for financials, too

(Newser) - Stocks fell today as investors saw weakness across the economy, particularly in tech bellwethers Cisco and Intel, MarketWatch reports. Oil also rebounded from a two-day fall, trading up 65 cents to $136.69 a barrel. The Dow fell 236.77, closing at 11,147.44. The Nasdaq shed 59.55...

Furious Voters to Congress: Lower Gas Prices Now!

Jul 9, 2008 2:29 AM CDT

Furious Voters to Congress: Lower Gas Prices Now!

Constituents turn up heat on lawmakers

(Newser) - Lawmakers who returned to their districts for the 4th of July break have been pushed back to Congress with a resounding order to take action to lower gas prices. Angry and anxious taxpayers have made it clear that soaring energy prices are their chief concern, giving their representatives fresh impetus...

Oil Tycoon
Kicks Off Energy Campaign

Jul 8, 2008 3:51 PM CDT

Oil Tycoon Kicks Off Energy Campaign

Pickens wants to wean us from foreign supply with wind, natural gas

(Newser) - Billionaire oilman T. Boone Pickens is fed up with America’s dependence on oil and today launched a huge ad campaign to persuade the nation to kick its crude addiction, the Dallas Morning News reports. His "Pickens Plan" proposes that Americans swap gasoline for natural gas, then replace natural...

Stocks Surge on Oil, Fed News

MARKETS

Jul 8, 2008 3:38 PM CDT

Stocks Surge on Oil, Fed News

Bernanke's comments encourage the battered financial sector

(Newser) - The markets made strong gains today as crude futures fell more than $5 and the Fed took steps to shore up the housing market, MarketWatch reports. The Dow gained 152.25 points, its biggest jump in a month, to close at 11,384.21. The Nasdaq rose 51.10 points...

High Prices Pound Gas Stations

Jul 7, 2008 6:22 PM CDT

High Prices Pound Gas Stations

Squeezed margins drive many out of business

(Newser) - Angry at gas stations for profiting on your financial misery? Think again, the Wall Street Journal reports: They're fast going out of business as oil prices rise. This year's 40% price hike has sent costs soaring, shuttering 3,000 US stations and causing Exxon Mobile to announce the sale of...

Oil Drops, but Rally Fades

MARKETS

Jul 7, 2008 3:38 PM CDT

Oil Drops, but Rally Fades

S&P 500 off 20% from October high

(Newser) - The markets saw modest losses today after a rally spurred by a drop in crude prices sputtered over capital concerns at Fannie Mae and Freddie Mac, MarketWatch reports. The Dow fell 56.58 to 11,231.96, the Nasdaq dropped 2.06 to 2,243.32, and the S&P...

Where's Oil Money Going? Maybe to Your Pension

Jul 7, 2008 2:12 PM CDT

Where's Oil Money Going? Maybe to Your Pension

Petroleum proceeds boost retirement funds

(Newser) - Wall Street brokers and energy speculators aren’t the only ones lining their pockets thanks to skyrocketing oil prices, the Washington Post reports. Many pension funds have pushed heavily into commodities, bringing big returns in a time of economic strife. “Our commodity investment has really helped,” said the...

$6 Gas Possible by Year's End

Jul 7, 2008 7:38 AM CDT

$6 Gas Possible by Year's End

With oil near $150 a barrel, experts say $200 is a very real number for 2008

(Newser) - As oil flirts with $150 a barrel, nearly double its price from last year, the specter of $6 a gallon gas at US pumps has become more real. A plethora of factors—from the threat of conflict with Iran to tight supplies and a weak dollar—continue to exert upward...

Speculators Didn't Do It

Opinion

Jul 5, 2008 7:21 PM CDT

Speculators Didn't Do It

Traders take blame for high oil prices, but global demand is the real culprit

(Newser) - Politicians are blaming high oil prices on an old scapegoat: speculators, writes Dean Barnett in the Weekly Standard. But if speculators were hoarding oil, it would be stockpiled, and inventories would soar. Instead, inventories remain constant. This is obvious "to anyone who took an introductory economics class," Barnett...

Dear God: Please Lower Gas Prices!

Jul 4, 2008 6:21 PM CDT

Dear God: Please Lower Gas Prices!

Prayer group pleads for divine intervention with ascendant pump costs

(Newser) - Many analysts say there isn't a prayer of gas prices coming down any time soon, but there's a group out there bent on proving them wrong, reports CNS News. The Prayer at the Pump Movement, led by Seventh-Day Adventist Rocky Twyman, has been holding vigils at gas stations across the...

Energy-Efficient Japan to Host G8 Summit

Jul 4, 2008 7:26 AM CDT

Energy-Efficient Japan to Host G8 Summit

Tokyo will showcase conservation ethic, technology

(Newser) - Next week the leaders of the developed world will meet at a resort in northern Japan for this year's G8 summit. With oil prices topping the agenda, Japan—by most measures, the most energy-frugal developed nation on earth—is hoping to use the international platform to promote its energy conservation...

Markets Mixed in Light Trading

MARKETS

Jul 3, 2008 12:42 PM CDT

Markets Mixed in Light Trading

Perked-up GM helps send Dow into holiday weekend on gain

(Newser) - The markets ended mixed today amid flat economic news, MarketWatch reports. With volume light ahead of the holiday, General Motors enjoyed a rebound after a sharp fall yesterday helped push the market into bear territory. The Dow gained 73.03 to close at 11,288.54. The S&P 500...

Washington's War Drums Beating Loudly

OPINION

Jul 3, 2008 10:25 AM CDT

Washington's War Drums Beating Loudly

Amid US, Israeli, Iran saber-rattling, 'all options on the table'

(Newser) - Is Washington, or its Israeli allies, really ready to attack Iran? "The threats, counterthreats, and counter-counterthreats … have reached new levels of hysteria in recent days," Dana Milbank writes in the Washington Post. Rumblings of an Israeli strike prompted Tehran threats to close oil-shipping lanes. That would be...