SINGAPORE - Oil prices hovered below $78 a barrel Wednesday in Asia after a report showed U.S. crude supplies fell less than expected last week, suggesting demand for fuel remains tepid. Benchmark crude for September delivery was up 25 cents to $77.83 a barrel...
Crude oil prices were slightly lower in midday trade in New York, with the slide coming on slower growth in the US economy. The US Commerce Department reported that the nation’s gross domestic product grew just 2.4 percent in the second quarter after adding 3.7 percent...
NEW ORLEANS: Even when the oily sheen starts fading from the surface of the Gulf of Mexico, it manages to become bad news for fishermen. Many of those whose fisheries were shut down by the oil spill have found work skimming the oil from the water through BP's Vessels of...
Crude oil prices were higher Thursday as the US dollar weakened and new jobless claims dropped by 11,000 last week in the United States. September contracts for West Texas Intermediate crude were up $1.25 to $78.24 per barrel at just after 1 p.m. on the New York...
Oil prices rose Thursday as better-than-expected earnings from ExxonMobil Corp., Southwest Airlines Co. and others bolstered hope for an improving economy. Gas pump prices across the country on Thursday averaged $2.744 for a gallon of regular unleaded gasoline,...
Prices for crude oil were down again Wednesday after the US Energy Information Administration reported in its weekly inventories survey that stockpiles of crude were up unexpectedly last week. The EIA said that crude oil inventories added 7.3 million barrels last week,...
Oil prices dipped to near $77 a barrel Wednesday after a report showed U.S. crude supplies unexpectedly rose last week, suggesting demand remains weak. By early afternoon in Europe, benchmark crude for September delivery was down 27 cents to $77.23 a barrel in...
When the BP oil spill hit headlines, I was involved in a family discussion about the event. “It seems to me that oil is a natural product,” I said, “and it may be cleaned up naturally.” One of the people at the table rightly pointed out that I...
