Tag archive for ‘Crude Oil Prices’
Skyrocketing Oil Prices Stump Experts
Washington, D.C. (Washingtonpost.com): Confused about oil prices? So are the experts.
Executives from the giant oil companies say it’s partly the fault of “speculators” or financial players. Key financial players say it’s really a question of limited supply and expanding global demand. Some members of Congress accuse the Organization of the Petroleum Exporting Countries for bottling [...]
Reuters: Oil hits record near $130 as supply fears grow
New York, NY (Reuters): Crude oil prices scaled a new peak near $130 a barrel on Tuesday amid deepening worries over tight global stockpiles and signals from OPEC that no additional supplies are forthcoming to ease the crunch.
Billionaire investor T. Boone Pickens said Tuesday he expected oil to hit $150 a barrel this year. The [...]
Saudi Arabia rejects Bush’s request for increased oil output
Riyad, Saudi Arabia (Washingtonpost.com): Saudi Arabia Friday rejected the idea of increasing oil production to help ease soaring gasoline prices, telling President Bush that the kingdom already is meeting its customers’ demand for crude.
The apparent rebuff came as Bush appealed to Saudi King Abdullah to use his country’s vast oil reserves — the world’s [...]
Oil Prices Surge as Bush meets with Saudi King
London, UK (FT.com): Crude oil prices on Friday hit a fresh record high of almost $128 a barrel boosted by a bullish forecast from Goldman Sachs and as US President George W. Bush asked Saudi Arabia, the world’s largest oil producer, for help to lower skyrocketing energy prices.
Bush, on his second visit to Saudi Arabia [...]
Oil and Gas Surge with little end in sight
New York, NY (Reuters): The average price of a gallon of gasoline hit a new record this week and could surge even more as demand for the fuel rises this summer, according to an industry analyst. U.S. average retail gas prices rose to $3.6245 a gallon on May 2, up about 15.08 cents per gallon [...]
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