Home / Tag Archives: benchmark crude (page 3)

Tag Archives: benchmark crude

Cheap oil buoys consumers, shakes up global governments

Cheap oil will be sticking around for a while. That reality is wreaking havoc and causing uncertainty for some governments and businesses, while creating financial windfalls for others. Less expensive crude is delighting consumers in some regions, while leading to widespread job losses elsewhere. Oil has fallen from $107 to around $30 in the past 19 months. Furious production by ...

Read More »

Stocks rise with oil prices, consumer stocks gain ground

Stocks rise with oil prices, consumer stocks gain ground

NEW YORK — U.S. stocks are rising Tuesday morning along with the price of oil, and consumer stocks are getting a lift from strong fourth-quarter results from companies like Procter & Gamble and handbag maker Coach. KEEPING SCORE: The Dow Jones industrial average rose 231 points, or 1.5 percent, to 16,116 as of 10:37 a.m. Eastern time. The Standard & ...

Read More »

Stocks are mixed in early trade; oil price slips

NEW YORK — Stocks were in mixed in early trading Wednesday ahead of a European Central Bank meeting where further stimulus is expected to be announced as well as a speech by the head of the Federal Reserve. Energy stocks fell along with the price of oil. KEEPING SCORE: The Dow Jones industrial average lost seven points, or 0.1 percent, to ...

Read More »

Oil production in US seen tumbling due to price drop

PARIS — Oil supply from the United States, Russia and other non-OPEC countries is expected to drop sharply next year — possibly the steepest decline since the Soviet Union collapsed — because of low prices, the International Energy Agency forecast Friday. In its latest monthly report, the IEA says non-OPEC production is expected to drop nearly half a million barrels ...

Read More »

The Louisiana Offshore Oil Port rising to meet the needs of crude oil storage

What costs more than $25 million dollars, can hold 1.1 million barrels of oil and known as the Bayou State? That’s correct. The 3 new above ground oil tanks added to Clovelly Hub by The Louisiana Offshore Oil Port (LOOP). Currently, LOOP has 60 million barrels underground capacity, and once construction is finished, their final above ground storage will be ...

Read More »

US stocks climb as oil rebounds; Precision Castparts jumps

NEW YORK — U.S. stocks rose Monday as energy stocks followed oil prices higher. The stock market also got a lift from the latest corporate deal news. Precision Castparts led industrial stocks higher after Warren Buffett’s Berkshire Hathaway agreed to buy the maker of aircraft components. KEEPING SCORE: The Standard & Poor’s 500 index rose 21 points, or 1.1 percent, ...

Read More »

Clock keeps ticking toward North Dakota oil tax break

The clock kept ticking in March on a potential $5.3 billion, two-year tax break for North Dakota’s oil industry after a state-calculated average of the month’s crude price fell below $52.59 per barrel. The state waives its 6.5 percent oil extraction tax if the monthly price of benchmark West Texas Intermediate (WTI) crude at the Cushing, Oklahoma, transport hub falls ...

Read More »

Another rig(s) bites the dust

Sometimes in life you get what the kids like to call a “boo-boo.” And when you get a “boo-boo,” you most likely slap a Band-Aid on it, right? A few days later your wound is healed and life is good, but now you have a decision to make. Either peel the Band-Aid off slowly (not recommended), or, rip it off ...

Read More »