August 29, 2013 |
Crude oil prices began pulling back Thursday as momentum for a U.S. military strike on Syria stalled. The price of light, sweet crude for October deliver fell 80 cents to $109.30 a barrel Thursday from a previous settlement price of $110.10 Wednesday. Brent crude oil fell 67 cents Thursday, retreating to $115.94. Crude oil prices had risen this week after the U.S. and others accused the Syrian government of launching a chemical attack...
August 28, 2013 |
Motorists hitting the road over the Labor Day weekend may find themselves paying more at the pump as the Syrian conflict fans tensions in the Middle East and roils gas markets. Experts speculate that prices could shoot up 10 cents a gallon or more in the coming days, a reversal of the lower prices road-trippers have enjoyed this summer thanks to increased U.S. production and higher inventories. A gallon of regular gasoline might again vault past $4. Prices "are definitely going up," said Amy Myers Jaffe, executive director of energy and sustainability at UC Davis.
August 27, 2013 |
U.S. stocks tumbled and the price of crude oil jumped Tuesday as the Obama administration weighs its next step in the Syrian conflict. The benchmark stock indexes were down Tuesday and the price of October U.S. crude oil jumped about 3.8% to nearly $108.85 a barrel. Brent crude oil hit a five-month high as well, rising above $111 a barrel Tuesday. While Syria is not a large oil producer, fears are that the turmoil could spread across...
August 2, 2013 |
Chevron Corp. posted its biggest second-quarter profit decline in four years and missed analysts' estimates as crude oil prices and production fell. Net income dropped 26% to $5.37 billion, or $2.77 a share, from $7.21 billion, or $3.66, a year earlier, the San Ramon, Calif., company said Friday. The per-share result was 19 cents below the average of estimates compiled by Bloomberg. Chevron's oil and natural gas output fell 1.6% to the lowest second-quarter average in half a decade as new wells in Angola, the Gulf of Mexico and Pennsylvania failed to make up for declining production from older fields, according to the statement.
July 11, 2013 |
The price of gas jumped to an average $3.52 per gallon in the nation on Thursday as oil prices hovered above $104 per barrel, driven by the deepening Egyptian political crisis and diminishing stockpiles of crude. Oil prices actually dropped slightly from above $106 a barrel Wednesday, the highest level in more than a year. The surging cost was partly spurred by reports that showed shrinking supplies of crude oil in the U.S. The rise in crude is already beginning to trickle into costs at the pump, which declined for weeks before gradually jumping from an average $3.48 a gallon last week to $3.50 Wednesday.
April 15, 2013 |
NEW YORK -- Stocks posted sharp losses in Monday trading as commodities fell sharply following disappointing economic data out of China. Gold was also suffering a sharp sell-off. The Dow Jones industrial average, which had been in striking distance of 15,000, was off 156.85 points, or 1.1%, to 14,708.21 in late-day trading on Wall Street. The Dow had been down more than 200 points earlier. The broader Standard & Poor's 500 index was down 22.67 points, or 1.4%, to 1,566.18. The technology-focused Nasdaq was off 52.73 points, or 1.6%, to 3,242.22 Downbeat data out of China fueled worries over slowing growth.