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Oil prices put business travelers over a barrel
Once upon a time air travel was a luxury reserved for the rich and famous. With sustained oil prices over $100 per barrel, we may be headed that way again, and the impact on business travel could be enormous, as cash-strapped airlines raise prices, cut capacity and try to squeeze alternative revenue sources out of [...]
Oil prices rebound by over $1 a barrel
Oil prices rebounded by more than $1 a barrel Friday, but analysts are hesitant to call a turnaround in a market that’s down more than 13 percent this year on dampened heating fuel demand.
Unless prices rally hard next week, U.S. drivers should see some cost savings — at least until the spring driving season begins. [...]
Oil Prices Fall Below $52 a Barrel
Oil plunged below $52 a barrel Thursday to its lowest price since May 2005, extending a sharp decline that has been led by dampened heating oil demand, but which could save consumers money on a more widely used fuel: gasoline.
Crude oil has tumbled by 15 percent so far this year in a huge sell-off that [...]
Oil prices steady as market eyes OPEC
Oil prices were steady Tuesday as traders weighed forecasts calling for mild U.S. weather next week against anticipated further production cuts by OPEC.
Light sweet crude for January delivery fell by a penny to settle at $62.43 a barrel on the New York Mercantile Exchange. In London, January Brent on the ICE Futures exchange declined by [...]
Is the world’s oil boom over?
Understanding the oil market is difficult.
Making reasonable forecasts is almost impossible. That’s why most analysts were surprised by the dip in prices from the Aug. 8 historic high of $79 per barrel to below $60 in recent days. Suddenly the alarmists who foresaw an imminent era of oil scarcity are silent, OPEC is again discussing [...]
