Member Center:Create Account|Log InManage Account|Log Out HOMENewsU.S. & World NewsNationalInternationalHealthEntertainmentNational SportsBusinessTechnologyStrangeWar on Terror 20 Towns in Twenty DaysLocal Stories OnlyFairfield County NewsPoliticsFace the StateFace the StateClosings and DelaysLiberty Bank Surprise Squad WFSB MobileSign up for text and mobile alertsDo you have a news tip for WFSB?Inside Channel 3Talent appearance request formContact UsIntern at WFSB!Meet the Eyewitness News TeamConnecticut Science CenterBlogsPress ReleasesTours & VisitsDo you have a news tip for WFSB?TV ListingsBirthdays and AnniversariesFCC 398 Children's Television Programming Report3CaresSomething's Brewing Birthdays and Anniversaries3 On The RadioScience SundayConnecticut Science CenterLost and Pound PetsWeatherPinpoint Doppler LivestreamSki ReportInteractive RadarTechnical Discussion 7-Day ForecastPinpoint Doppler LoopClosings and DelaysWFSB RadarMaps and RadarWeather Bug iCamsEarly … [Read more...] about World oil price could hit $100 a barrel next year
Oil prices cnn
0 View Comments NEW YORK (AP) — The latest on developments in financial markets (all times local): 11:45 a.m. Stocks are lower at midday and the price of crude oil is falling ahead of a White House announcement on the Iran nuclear deal. Oil fell 2.7 percent Tuesday after CNN reported the U.S. would pull out of the Iran deal and allow sanctions to go forward, but that they could take months to go into effect. Comcast fell 4.6 percent after Reuters reported that the company wants to make a new offer for the entertainment businesses 21st Century Fox agreed to sell to Disney. The S&P 500 fell 5 points, or 0.2 percent, to 2,667. The Dow Jones industrials fell 51 points, or 0.2 percent, to 24,304. The Nasdaq fell 20 points, or 0.3 percent, to 7,245. The yield on the 10-year Treasury rose to 2.98 percent. ___ 9:35 a.m. Stocks are opening slightly lower on Wall Street as the market gives back some of the gains it made the day before. Comcast fell 2.2 percent early Tuesday after … [Read more...] about Markets Right Now: Stocks, oil prices fall before Iran news
Member Center:Create Account|Log InManage Account|Log Out HOMENewsU.S. & World NewsNationalInternationalHealthEntertainmentNational SportsBusinessTechnologyStrangeWar on Terror Local Stories OnlyFairfield County NewsPoliticsFace the StateFace the StateClosings and DelaysLiberty Bank Surprise Squad WFSB MobileSign up for text and mobile alertsDo you have a news tip for WFSB?Inside Channel 3Talent appearance request formContact UsIntern at WFSB!Meet the Eyewitness News TeamConnecticut Science CenterBlogsPress ReleasesTours & VisitsDo you have a news tip for WFSB?TV ListingsBirthdays and AnniversariesFCC 398 Children's Television Programming Report3CaresSomething's Brewing Birthdays and Anniversaries3 On The RadioScience SundayConnecticut Science CenterLost and Pound PetsWeatherPinpoint Doppler LivestreamSki ReportInteractive RadarTechnical Discussion 7-Day ForecastPinpoint Doppler LoopClosings and DelaysWFSB RadarMaps and RadarWeather Bug iCamsEarly Warning Weather TrackerEarly … [Read more...] about Gas prices are on the rise
NEW YORK (CNNMoney) - Oil prices jumped to their highest level since 2014 Wednesday, as worries about fighting in the Middle East spooked markets. The day began with President Donald Trump tweeting to threaten a missile attack on Syria in response to reports of a chemical attack by government forces there earlier this week. Later, Saudi Arabia's air defense reported that it intercepted missiles heading towards its capital Riyadh. Saudi Arabia has been defending itself against missiles launched by Iranian-backed Houthi rebels in Yemen in recent weeks. The price of oil futures rose more than 2% In midday trading, topping $67 a barrel for the first time since December 2014. Syria is not a major oil producer, especially after years of civil war there. But its allies Russia and Iran are both major global producers. Trump's tweet taunted Russia about its claims it would shoot down any US missile attack on Syria. The uncertainty in the region is enough to send prices higher said Mike Walls, a … [Read more...] about Oil prices jump to highest level since 2014 amid Middle East tensions
Last Updated Jan 6, 2009 2:31 AM EST News that Israel is moving into Gaza again appears to have spurred oil's advance back toward the $50 mark. And with a fresh new year ahead, plenty of pundits are eager to start predicting which way prices will go from here. In one camp are the bears, who have been dominant for the past few months. As oil prices are often set on the margin and demand has already fallen by over 5 percent in many (perhaps most) countries, the bears argue that the expanding recession will depress prices below recent lows, to under $30 per barrel. Oil producing countries are, by and large, buying that argument. But the price increase has also scared up a set of contrasting voices. Bloomberg says that the price curve of the past few months is a close mirror of ten years ago: Bets on a recovery paid off then as the Organization of Petroleum Exporting Countries cut production 6.9 percent, causing prices to more than double in 1999. Now, OPEC is pledging to reduce supply 9 … [Read more...] about Oil Bulls Take a Tentative Peek Outside
Back in July 2013, a barrel of oil was selling for around $98 in the U.S. when the Qatar-backed Al Jazeera announced with huge ambitions the launch of a cable channel in America that would rival CNN and Fox News. Less than three years later, with oil selling for $30 a barrel on U.S. markets, the owners pulled the plug on Al Jazeera America, citing a business model that was "simply not sustainable." One knowledgeable observer estimated the total loss at nearly $2 billion. In a memo to employees Wednesday, the network said it was shutting down by the end of April. Al Jazeera America debuted in August 2013 to much fanfare, promising to deliver quality, in-depth content as an alternative to the shouting heads featured prominently on other cable news channels. Backed by the riches of the Qatar government, Al Jazeera America gained its foothold in the competitive U.S. media market through the $500 million purchase of Current TV, the struggling cable news network founded by Al Gore. But … [Read more...] about For Al Jazeera America, no endless flow of oil money
Last Updated May 2, 2011 4:24 PM EDT "Will an unintended consequence of Osama Bin Laden's death be lower gas prices?" asked Fast Company this morning. The answer to that is a resounding "no." Don't go out and buy a gas guzzler -- oil fell because of an emotional reaction from traders, and the fact that the price soon rebounded was entirely predictable. And sensible, too. The news of bin Laden's death caused jubilation in western capitals -- and a sharp drop in the price of oil. Peter Beutel, an oil analyst at Cameron Hanover, said in his Daily Hedger that "traders speculated that oil supplies from central Asia and the Middle East might now be more secure after the demise of the Al Qaeda leader." First reactions give way to reality then soared to their highest levels since the fall of 2008. Beutel told me that the Bin Laden factor might have knocked as much as five cents off the price of a gallon of gas, but it didn't last:At one point it was a factor, a pebble in the traders' shoes. … [Read more...] about Why the Osama bin Laden Drop in Oil Prices Couldn’t Last
This article originally appeared at TomDispatch.com. To stay on top of important articles like these, sign up to receive the latest updates from TomDispatch.com. Considering all the talk about global warming, peak oil, carbon divestment and renewable energy, you’d think that oil consumption in the United States would be on a downward path. By now, we should certainly be witnessing real progress toward a post-petroleum economy. As it happens, the opposite is occurring. US oil consumption is on an upward trajectory, climbing by 400,000 barrels per day in 2013 alone—and, if current trends persist, it should rise again both this year and next. In other words, oil is back. Big time. Signs of its resurgence abound. Despite what you may think, Americans, on average, are driving more miles every day, not fewer, filling ever more fuel tanks with ever more gasoline, and evidently feeling ever less bad about it. The stigma of buying new gas-guzzling SUVs, for instance, seems to have … [Read more...] about How Did Oil Make a Comeback?
The Arab revolution is circling around the region’s oil, and there’s talk of nationalizing or strengthening state control of industries in Egypt. So far, the Arab revolt has been mostly non-ideological. But at stake is the incalculable wealth of a long-suppressed region. With Bahrain, the anchor of the US military presence in the gulf, wobbling, and with the seeds of revolt planted in Kuwait, the revolt in Libya could provoke a burst of Arab nationalism aimed at taking control of the Middle East oil resources. With Tripoli, Libya’s capital, in flames and Benghazi and most of Libya’s eastern region already in rebel hands, there are reports that the holdings of ENI and other oil firms operating in Libya might be nationalized by a new government. Reports Bloomberg: “Certainly all the oil majors will be shaking if the new leaders decide to nationalize everything.” Oil prices have jumped sharply since the Libyan revolt began, and ENI is scared silly. … [Read more...] about Will the Arab Revolt Challenge Big Oil ?
WASHINGTON - Another key Republican lawmaker signaled yesterday that the oil industry may face consequences if it doesn't help control prices, especially as it rolls in record profits. "The message to the oil companies is, 'Hold down your price of gasoline and it better start sliding back the other way,' " said Sen. Trent Lott (R-Miss.). "If they don't control it, and if they continue to have prices go up, profits go up and salaries go up, Congress will do something that might not have the beneficial long-term effect," Lott told CNN's "Late Edition." Lott's comments came a week after Sen. Arlen Specter (R-Pa.), the chairman of the Senate Judiciary Committee, echoed the Democratic call for a windfall profits tax when oil prices top $50 a barrel. Lott also said a large part of the problem was a long-term failure of Congress, the White House and the American people to curb consumption. He also contradicted President Bush, who said he saw no evidence of price-fixing or gouging in … [Read more...] about LOTT-A STERN WORDS ON OIL