The price of oil dipped below $93 a barrel on Thursday, extending a sharp two-week sell-off, as traders monitored Europe’s debt crisis and its potential impact on global growth. Benchmark oil for June delivery rose 8 cents to $92.89 a barrel in midday trading on the New York Mercantile Exchange. The contract hit [...] [...]
by Associated Press Published: May 4,2012
Tags: drops, February, oil, summer driving season
The price of oil dropped below $100 per barrel for the first time since February following a disappointing U.S. jobs report and some signs of a slowing world economy. Benchmark West Texas Intermediate crude fell as low as $97.83 Friday morning before edging back to $98.21 per barrel in New York. Crude prices are down [...] [...]
by Associated Press Published: March 20,2012
Tags: dropping, national gas prices, oil, Saudi
The price of oil is falling after Saudi Arabia promised to keep markets well-stocked with petroleum. The world’s biggest oil producer made the announcement Tuesday in reaction to fears that a standoff over Iran’s nuclear program could hurt oil supplies from the Middle East. The Saudis say they’re ready to meet any shortfalls — perceived [...] [...]
by Associated Press Published: March 6,2012
Tags: economy, global economic growth, Iran, national, oil
Crude oil prices fell below $105 a barrel Tuesday on concerns about global economic growth and the prolonged tensions over Iran’s nuclear program. Benchmark oil for April delivery was down $1.87, or 1.7 percent, to $104.85 a barrel in early afternoon trading on the New York Mercantile Exchange. In London, Brent crude fell $1.49 to [...] [...]
More than a dozen investors who put up between $4 million and $5 million have settled a lawsuit with a bankrupt company in southern Kentucky over accusations that the oil drilling business they invested in scammed them with big promises and no results. Whether the investors ever see any money is not clear. U.S. Bankruptcy [...] [...]
by Staff Writer Published: December 7,2011
Tags: Gov. John Hickenlooper, oil, Pearl Harbor anniversary, prices, U.S. growth
Oil is falling to around $100 per barrel after a U.S. government report shows supplies grew unexpectedly as demand for gasoline and other petroleum products dropped. Benchmark West Texas Intermediate on Wednesday fell $1.22 to $100.06 per barrel in morning trading in New York while Brent crude lost $1.23 to $109.28 in London. Prices dropped [...] [...]
The price of oil surged to $101 per barrel Wednesday, as the U.S. and other countries tried to make it easier for banks to lend money and keep the global economy growing. The Federal Reserve said it will team up with the European Central Bank, the Bank of England and the central banks of Canada, [...] [...]
by Associated Press Published: October 21,2011
Tags: BP, drilling, Gulf of Mexico, oil
BP is a step closer to being allowed to drill new deepwater wells in the Gulf of Mexico. The agency that regulates offshore drilling said Friday it has approved a supplemental exploration plan submitted by BP. The British firm still must obtain permits to be able to start drilling. BP is seeking to drill up [...] [...]
by Staff Writer Published: September 27,2011
Tags: European debt deal, oil, price increase
Oil prices rose 4.5 percent Tuesday on hopes that European leaders are closer to drafting a plan to contain the region’s debt crisis. Investors are encouraged that another recession can be avoided and demand for energy products — from oil to diesel and gasoline — will improve if Greece does not default on its debt. [...] [...]
by Amy Gillentine Published: September 23,2011
Tags: drilling, fracking, gas, oil, ultra resources
There’s never been a producing oil or gas well in El Paso County, but that hasn’t stopped drilling plans for Houston-based Ultra Resources, which bought more than 18,000 acres of the failed Banning Lewis Ranch property. The region’s foray into oil and gas drilling will also be the city and county’s foray into how to [...] [...]
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