February 2, 2006 |
Oil traders may be worried about geopolitics, but they can stop fretting about U.S. crude and gasoline inventories, at least for the near term. The government on Wednesday reported jumps in domestic oil and gasoline supplies last week that were well above expectations. The news helped to push energy prices down for the day. The U.S. Energy Information Administration said gasoline inventories surged by 4.
June 21, 2003 |
Oil prices jumped almost 3% on Friday as a report showed OPEC producers fulfilling their pledge to cut back supply this month. Crude oil for July delivery rose 86 cents to $30.82 a barrel on the New York Mercantile Exchange. Oil has declined 4.8% since June 11. Prices rose as tanker-tracking consultant Petrologistics told clients that the world's top oil supplier, Saudi Arabia, cut output this month by 12%.
December 6, 2000 |
U.S. crude oil prices closed under $30 for the first time in nearly four months, as traders on Tuesday put faith in Iraqi claims that it was working to end its five-day export stoppage. January futures on the New York Mercantile Exchange settled down $1.69 at $29.53 a barrel, continuing a four-session decline that has helped ease global concerns over the economic impact of high oil prices. Nymex near-term futures last traded under $30 a barrel on Aug. 9.
April 13, 2010 |
Retail gasoline prices rose nationally in the last week, the Energy Department said Monday, but analysts said there was strong reason to believe that pump prices should be falling soon. The average price of a gallon of regular gasoline rose nationally by 3.2 cents to $2.858, according to the Energy Department's weekly telephone survey of service stations. California's average was nearly unchanged for the fourth straight week, climbing just 0.8 of a cent to $3.096 a gallon. Gasoline supplies are near a 17-year high and well above the five-year average, said Phil Flynn, an analyst for PFGBest Research in Chicago.
March 23, 2010 |
Retail gasoline prices climbed by about 3 cents a gallon nationally and in California over the last week, the Energy Department said Monday as oil prices appeared to be stuck in a range of $80 to $85 a barrel. The average price of a gallon of regular gasoline in California rose 3 cents to $3.091, according to the Energy Department's weekly survey of filling stations. Nationally the price rose 3.1 cents to an average of $2.819 a gallon. Both averages were considerably higher than they were at this time last year when California gasoline was averaging just $2.154 a gallon while most Americans were paying about $1.962 a gallon.
June 14, 2011 |
Pump prices fell for the sixth straight week in California and for the fifth straight week across the U.S., the Energy Department said Monday. The decline was led by the Midwest, which dropped more than 13 cents a gallon after two key refineries were returned to service. The average price of a gallon of regular gasoline in California fell 5.4 cents from the previous week to $3.940, according to the Energy Department's weekly survey of service stations. The state's average price has fallen 26.7 cents a gallon since it peaked at $4.257 on May 2. At this time last year, the average cost of a gallon of gasoline in California was $3.053.
March 9, 2010 |
Oil climbed slightly higher in commodities trading Monday as the Energy Department reported that retail gasoline prices increased by about a nickel nationally and in California from a week ago. The average retail price of regular gasoline rose 4.9 cents nationally to $2.751 a gallon Monday. California saw a similar 4.7-cent gain to $3.046 a gallon, according to the Energy Department's weekly survey of filling stations. Prices traditionally rise in the month of March, said Tom Kloza, chief oil analyst for the Oil Price Information Service in Wall, N.J. Kloza predicted that gasoline prices would top out this month at about $3 a gallon nationally and $3.25 in California.
January 26, 2010 |
Oil prices climbed back above $75 a barrel Monday, but supply and demand fundamentals again forced retail gasoline into retreat over the last week, with pump prices falling nationally and in California, the U.S. Energy Department said Monday. Analysts said crude oil futures were buoyed by indications that Federal Reserve Chairman Ben S. Bernanke might have enough congressional support to be reconfirmed to that post. "The market clearly thinks that a change in leadership at the Federal Reserve would be disruptive to the U.S. economy," said Phil Flynn, an analyst for PFGBest Research in Chicago.
May 17, 2012 |
Analysts said that a crude-oil glut from increasing domestic production and imports from Canada helped drive U.S. oil prices below $100. They added that a change in the flow of a key U.S. oil pipeline that begins this week could help reduce retail gasoline prices. The U.S. Energy Department says that crude oil inventories at a storage hub in Cushing, Okla., reached a record 45.1 million barrels on May 11, breaking the old record of 41.9 million barrels set in early April 2011.
April 23, 2005 |
Oil jumped back above $55 a barrel Friday as traders said sustained demand and refinery outages could strain U.S. gasoline supplies during the peak summer traveling season. A spate of violence in the Middle East also revived what dealers call a "terror premium," an amount added by the marketplace to the price of oil to reflect fears of potential attacks on energy infrastructure in the oil-rich region. U.S. light crude rose $1.19, or 2.2%, to $55.