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Tag Archives: Oil Prices

Oil down as factory data, sanctions risk weighed

gas prices

Oil prices edged slightly lower on Tuesday as soft factory data from China and the U.S. balanced the threat of sanctions against Russia following its annexation of the Crimean Peninsula. Benchmark oil for May delivery was down 6 cents to $99.54 at 0610 GMT in electronic trading on the New York Mercantile Exchange. The contract rose 14 cents to close ...

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Oil prices gain on US economic outlook


The price of oil edged up Tuesday as strong U.S. factory output boosted the outlook for the world’s biggest economy. Benchmark U.S. crude for April delivery was up 15 cents to $98.23 a barrel at 0915 GMT in electronic trading on the New York Mercantile Exchange. The contract fell 81 cents to $98.08 on Monday. Brent crude, used to set ...

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Weekly Crude Market Update


Oil Inventories The weekly government report indicating crude oil inventories was followed by a small gain in crude oil prices at the Feb. 26 week end, but the gain was not as big as analysts anticipated. Compared with the week prior, the US Energy Information Administration predicted a gain well below the 800,000 bbl increase estimated by analysts polled by the Wall Street ...

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Oil jumps above $96; natural gas soars 6 percent


NEW YORK (AP) — The price of oil rose nearly 2 percent Wednesday as oil started flowing through a new pipeline to the Gulf Coast and traders anticipated another decline in U.S. supplies. Meanwhile, natural gas futures shot up almost 6 percent as temperatures in many parts of the Northeast dropped into the single digits, and strong demand tapped the ...

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U.S. oil boom could slip in 2015, feds forecast

natural gas

The shale-oil boom that has lifted economies and made millionaires in Texas and North Dakota will slow next year for the first time since it began in 2011, a new federal forecast shows. U.S. oil producers are slated to increase their output by about 750,000 barrels per day in 2015, according to the U.S. Energy Information Administration’s first projections about ...

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Plunging prices mask Maryland gas tax increase: ‘It created less misery’


Drivers may cringe but 2013 proved a practical year to increase a state tax on gasoline, says an industry analyst. Oil prices plunged across the country because of drilling in the Rocky Mountains, Texas and Canada. In Maryland, the average price per gallon decreased about 10 cents when compared to 2012, said Tom Kloza, founder of Oil Price Information Service. ...

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Market News: Natural Gas Shows First Loss in Nine Sessions


By: David Bird NEW YORK–Natural-gas futures fell Tuesday for the first time in nine sessions, but held near six-month highs amid mixed near-term weather signals. Market participants said winter weather is the driving force now and confirmation that in coming days temperatures in key markets will turn much colder could reignite the rally. “We’re seeing a bit of a pullback ...

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Letter from North Dakota: The Oil Party Rocks On


WILLISTON, N.D., Nov 13- Falling oil prices have spooked Wall Street and even parts of Texas. But in North Dakota’s booming oil patch, the crude-fueled party carries on. Since June, the price of crude oil has fallen 30 percent to about $75 a barrel, raising fears that oil production would slow across the United States. But you wouldn’t know it ...

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