crude oil

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Bundle Up — Heating Costs Rising This Winter

Rising crude futures could signal cold winter for heating-oil users

(Newser) - Skyrocketing crude prices are sending shivers through American homeowners, who enter winter facing the highest heating oil prices in history. The average oil-heated household will spend $1,785 to keep warm this winter, the Washington Post reports, up 22% from last year. Natural gas users will see a 10% percent...

Turkey's Threats Send Oil to Record High Near $88

Many fear disruption of Kurdish pipelines

(Newser) - Crude oil hit yet another record today, trading near $88 a barrel over fears that a looming Turkish attack on Northern Iraq would disrupt pipelines in the world’s third-largest oil producer. Turkey’s PM said he expected parliament to approve an incursion to root out PKK militants in the...

Stocks Dip on Bad Oil News
Stocks Dip on Bad Oil News
Oct 8, 2007 3:40 PM CDT

Stocks Dip on Bad Oil News

(Newser) - Stocks fell today as oil producers and miners faced fears a slow economy would hamper demand. Crude dropped as low as $78.98 as Columbus Day brought the slowest trading session of the year; the Dow closed at 14,043.73, down 22.28. Exxon and Occidental both saw declines,...

Americans Hot for Hybrids
Americans Hot for Hybrids
Sep 17, 2007 5:42 PM CDT

Americans Hot for Hybrids

Sales up 49% thanks to surge in Mid-West sales

(Newser) - Hybrid sales skyrocketed 49% in the first half of 2007, thanks to boom in the Midwest. Oklahoma’s 143% increase was the most of any state, but every state except Hawaii saw growth, the AP reports, with 215,997 vehicles registered this year, compared to 144,721 over the same...

Market Rallies on Corporate Gains, Labor News

GM, McDonald's bolster stocks

(Newser) - US stocks rallied today, with blue chips and Countrywide Financial at the helm. A General Motors' analyst upgrade and  a higher-than-anticipated dividend at McDonald's helped drive the Dow up 133.23 points, to 13,424.88. Countrywide rose 14% on news that the battered lender has lined up $12 billion...

Jitters Drive Most Stocks Downward
Jitters Drive Most Stocks Downward
Sep 12, 2007 4:20 PM CDT

Jitters Drive Most Stocks Downward

Bad news from Texas Instruments, high crude prices quash optimism

(Newser) - Stocks fell today, with investors shying away from tech after Texas Instruments slashed its sales forecast. NYSE losers outpaced winners 9 to 7, the Dow dropped 16.74 to 13,291.65, the Nasdaq fell 5.40 to 2,592.07, and the S&P held steady. “We had...

Supply Worries Send Oil Near $80 a Barrel

US inventory drops, and OPEC production boost won't cover shortfall

(Newser) - Crude oil hit nearly $80 a barrel today—its highest price ever—thanks to dwindling supply. US inventories fell by 7M barrels last week, much more than the 2.7M analysts predicted. OPEC announced a production increase of only 500K barrels, which Bloomberg reports will not meet seasonal demand increases....

OPEC Surprises Market With Boost in Oil

Lends hand to world economy dragged by US credit-market crisis

(Newser) - OPEC surprised traders today by boosting oil production for the first time in a year, Bloomberg reports. Concerns over the U.S. market crisis dragging down the world economy inspired the spike of 500,000 barrels a day. The US reportedly prodded Saudi Arabia to overcome the opposition of other...

Oil, Steel Fuel Surge in Asian Markets

Near-record crude prices outweigh fears of US skid

(Newser) - Crude climbed within 50 cents of a record today, and that meant Asian stock indexes were climbing as well with the Nikkei rising 0.3% and the Asia-Pacific index up 0.1% after big losses Friday. Steel joined oil as a big mover when South Korean producers announced a price...

Jittery Market Stays Put; Oil Slides Below $70

(Newser) - Major indexes hovered cautiously around their starting points, as a Washington meeting between Ben Bernanke, Chris Dodd and Hank Paulson allayed traders' concerns that an academic Fed is callous to Wall Street's ongoing credit crunch. Winners outnumbered losers 3 to 2, but the Dow was off 30.49 to close...

Stocks Plunge as Credit Outlook Worsens

Bear Stearns downgrade stirs more trouble as Dow loses 2%

(Newser) - After two straight days of gains and a steady morning the Dow plummeted in a selloff late this afternoon, losing 2% of its value to close at 13179.71, down 283.62. Bear Stearns lost big after Standard and Poors downgraded the subprime-laden i-bank from "stable" to "negative,...

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