Oil jumped to its highest closing price in two-and-a-half years over $106 a barrel, on concern that the Libyan conflict will prolong production cuts, Bloomberg reported.
April 1, 2011BusinessFuel
Oil Price Falls Following Report on Higher Inventories
Oil prices fell to near $104 a barrel Wednesday following a Department of Energy report showed that crude stockpiles jumped almost 3 million barrels last week, Bloomberg reported.
March 30, 2011BusinessFuel
Oil Ends Week Over $105 a Barrel
Oil slipped slightly from this week鈥檚 highest closing price in two-and-a-half years but finished the week near that level over $105 a barrel, Bloomberg reported.
March 25, 2011BusinessFuel
Oil Continues to Rise, Topping $106 a Barrel
Oil topped $106 a barrel in early trading Thursday following the highest closing price in two and a half years on Wednesday, Bloomberg reported.
March 24, 2011BusinessFuel
Oil Rises to Near $103 a Barrel
Oil prices rose $2 early Monday to near $103 a barrel following weekend allied air strikes on Libya, Bloomberg reported.
March 21, 2011BusinessFuel
Oil Rises Following Inventory Report
Oil rose modestly from a two-week low but remained under $100 a barrel Wednesday following a report that showed crude inventories rose last week.
March 16, 2011BusinessFuel
Oil Drops $4 to Near $97 a Barrel
Oil prices dropped sharply Tuesday, declining $4 to near $97 a barrel on lower demand in Japan due to the big earthquake and subsequent nuclear crisis in that country, Bloomberg reported.
March 15, 2011BusinessFuel
Obama Says U.S. May Tap Oil Reserve
President Obama said Friday he is prepared to tap the Strategic Petroleum Reserve if needed to prevent any oil supply disruptions, even as oil prices slipped, news services reported.
March 11, 2011BusinessFuel
U.S. May Open SPR as Oil Nears $107 a Barrel
Oil prices continued their upward trend, nearing $107 a barrel early Monday, and President Obama鈥檚 chief advisor said the administration is considering releasing some oil from the Strategic Petroleum Reserve to staunch soaring prices.
March 7, 2011BusinessFuel
ATA Backs More Domestic Oil Production
American Trucking Associations has urged the Obama administration to open up opportunities for domestic oil production as a way to lessen the impact of political tumult in the Middle East.
March 3, 2011