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Oil Articles

Microsoft: Faster Computers = Cheaper Gas

Research firms and think tanks are constantly looking for new ways to process oil in order to increase gasoline production, given the world’s dependence on the valuable commodity. Analyzing chemical bonds and refining techniques, however, many not be the only solution when it comes to achieving optimum efficiency.

High Oil Prices An Online Retail Opportunity

The threat of persistently high prices for crude oil through the winter could be a boon to web-based retailers.

Emily’s Effects on Cotton and Oil

Many cotton farmers in Texas feel that they got off pretty light as Hurricane Emily managed to not damage their crops too much. They didn’t have much damage from winds, but heavy rains hurt crops some.

Chevron Bid May Deflect Cnooc to Marathon

Chevron Corp.’s bid for Unocal may have outdone China’s 70 percent state-owned oil giant Cnooc Ltd. While that news is heartening to many who were uneasy about the possible acquisition, analysts say Cnooc may now set its sights on Marathon Oil Corp.

Bearish Reports Drives Oil Prices Down

The bears bucked the bulls a bit after this week’s EIA report saying crude inventories hadn’t dropped nearly what was expected from shortages anticipated after Cindy and Dennis ripped through the Gulf of Mexico.

Crude Oil Prices Hover As Emily Weakens

Crude oil prices hovers in the $58 range in midday trading. The price opened at $58.35 this morning and shot up as high as $58.90 before dropping back to $58. Traders are anxious to see how Hurricane Emily will alter oil tanker traffic from Venezuela and Mexico.

Crude Oil Tanks After Dodging Hurricanes

August contract crude dropped more than two dollars a barrel on reports that Hurricane Emily will completely avoid oil fields. Gasoline and heating oil, taking a hint also plummeted. These are lowest prices in over two weeks for oil.

Oil Prices Hover After Energy Report And Hurricane News

Oil prices hovered in the $60 range today, climbing to $61.10 briefly and then going back down to $60.30. Traders remain moody, eyeing the storm Emily moving into the Caribbean, as they wonder what the effects will be on the Gulf of Mexico.

Crude Oil Climbs Back Above $61

Fuel prices continued to climb back up as traders charged like bulls in Spain, driving prices for light sweet crude on the August contract in New York hit $61.25 before settling at $60.62 for the evening. Surprisingly enough, traders suspect U.S. inventories may be down somewhat when the EIA makes its announcement in the morning.

Oil Dodges Dennis Bullet

Oil traders calmed after Hurricane Dennis created minimal problems for offshore rigs after initial predictions had those investors worried. Light sweet crude on the August contract slides down ever so slowly to $58.10 in midmorning trading.

Oil Prices Change Direction As Dennis Projection Shifts

August contract light sweet crude dropped its rally on Friday aft Hurricane Dennis projections moved the storm away from oil platforms in the Gulf of Mexico. The prices closed at $59.63 a barrel after climbing to $61.90 during the day. Brent crude traded in the IPE in London dropped $1.10 to $58.20.

Oil Traders Remember Dennis the Menace

Light sweet crude prices started cranking out hits this morning in a rally that’s taken the price back up to $61.75 and gas prices will make you squeal as they hit $1.86 in morning trades. Brent Crude is back up over $60 on the IPE in London this morning. Traders shook off the bombing because they’re much more scared of Dennis.

Crude Oil Plummets After London Disaster

Light sweet crude, after opening at a record high of $62.30, this morning plummeted to $59.05 after news of the London subway bombings on Thursday morning. The price started a rally but didn’t go back above $61.

Oil Prices Top $60 A Barrel on Supply Fears

Prices on August contract light sweet crude continue to climb on the New York Mercantile exchange as Tropical Storm Cindy continues to pour water on the Gulf Coast.

Crude Oil Soars to New Record: $61.40

Light sweet crude on the August contract exploded beyond the previous record to $61.40 a barrel. Gasoline and heating oil shot up right behind it at $1.80 a gallon. Dennis and Cindy hold the world oil market in their grasp.

Oil Prices Jump On Storm Movements

Tropical storms in the Gulf of Mexico have led mercantile traders to drive oil prices above $60 a barrel again.

Oil Prices Continue to Climb Back Up

Like a bad barker on television trying to sell another gadget, August contract light crude sold for $59.99 in morning trades. The prices edged its way back after oil prices dropped on rising inventories from the EIA last week.

Oil Might Hit $80 By December

Continued worries about international tensions and insatiable consumer demand drive options higher.

Crude Oil Hovers In $57 Range

August contract crude climbed back up to $57.80 a barrel after opening at $56.80 on the New York Mercantile Exchange in morning trades. Brent crude took off this morning to $56.70, up a dollar from the opening. Heating oil was up 4 cents and gasoline was up two.

Oil Traders Stamp $60 A Barrel, How Far is $70?

Oil prices continue to skyrocket like a titan rocket this as demand heats up, production has no real growth right now and worldwide demand continues to shoot through the roof. The price hit $60.85 in morning trades on the New York Mercantile Exchange.

Oil Crashes The $60 Barrier

As oil prices passed $60 per barrel, investors began a selloff that dropped the Dow to a 10 week low.