Prices

Oil

Oil lower on strong supply numbers

Source: 
Bloomberg

News of production increases in the U.S. and among OPEC members weighed on oil prices Friday. West Texas Intermediate crude for December delivery finished the Nymex session down 58 cents to $80.54 a barrel, a drop of 12 percent over the whole of October, while in London Brent lost 38 cents to settle at $85.86, Bloomberg reports.

Oil

Oil slides again on higher OPEC output

Source: 
Bloomberg

Word that OPEC has boosted its crude output to a 14-month high sent oil prices plunging again early Friday. West Texas Intermediate crude for December delivery dropped 1 percent, or 81 cents, to $80.31 a barrel in electronic trading on the Nymex, while in London Brent was down 93 cents to $85.31, Bloomberg reports.

Oil

Gasoline poised to drop below $3 for 1st time in 4 years

NEW YORK (AP) — The national average price of gasoline in the U.S. hit $3 a gallon Friday, and should soon drop below the benchmark for the first time since December 2010.

The price at the pump fell 33 cents in October, thanks mainly to plunging oil prices, according to AAA.

Oil

Oil lower on Fed action, stronger dollar

Source: 
Bloomberg

Wednesday’s Federal Reserve decision to finish its asset-purchase program pumped up the dollar Thursday, which sent oil prices down. West Texas Intermediate crude for December delivery fell $1.08 to finish trading on the Nymex at $81.12 a barrel, while in London Brent lost 1 percent, or 88 cents to settle at $86.24, Bloomberg reports.

Oil

Oil drops on Fed moves, report of higher production

Source: 
Bloomberg

Oil was sliding again early Thursday after the Federal Reserve wound up its asset-purchase program and the Energy Information Administration reported the highest level of U.S. production since the 1980s. West Texas Intermediate crude for December delivery fell 81 cents to $81.39 a barrel in electronic trading on the Nymex, while in London Brent lost 86 cents to $86.26, Bloomberg reports.

Oil

Oil jumps on slowing stockpile gains

Source: 
Bloomberg

An Energy Information Administration report that the increase in crude stockpiles started to slow last week helped boost oil prices Wednesday. West Texas Intermediate crude for December delivery jumped 1 percent, or 78 cents, to settle at $82.20 a barrel on the Nymex, while in London Brent shot up $1.09 to $87.12, Bloomberg reports.

Oil

Statoil profits hit by lower oil, gas prices

HELSINKI (AP) — Norwegian energy company Statoil says impairment charges and lower oil and gas prices pushed it into net loss of 4.8 billion kroner ($727 million) in the third quarter.

Earnings fell from a net profit of 14.3 billion kroner in the same period in 2013. Revenue dropped 9 percent to 147 billion kroner.

Oil

Anticipated demand increase fueling oil price rise

Source: 
Bloomberg

Predictions that Energy Information Administration stockpile figures will show a decline for a third straight week, alongside strong consumer confidence numbers, were pushing oil prices higher early Wednesday. West Texas Intermediate crude for December delivery gained 50 cents to $81.92 a barrel in electronic trading on the Nymex, while in London Brent was up 67 cents to $86.70, Bloomberg reports.

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Office of Sen. Barrasso
Oil

Analysis: Will low prices blunt GOP's oil push in Senate?

If the Senate flips to Republican control next week, there's every reason to believe they will stick to their fossil fuels energy agenda. An op-ed on Tuesday by Sen. John Barrasso of Wyoming is just the latest roadmap they've laid out heading into the mid-term elections.

Barrasso, the second-ranking Republican on the Senate's energy committee, said in the piece published by Fox News that if the GOP takes charge, they will send bills to President Barack Obama to "strengthen our energy security," including opening new areas to drilling and approving the Keystone XL pipeline.

What he didn't mention was the falling prices of foreign and domestic crude, which have come just in time to potentially undercut the appeal of the "drill, baby, drill" mantra that has dominated the GOP's energy approach during the Obama era.

Oil

Oil gains on dollar weakness, stock rally

Source: 
Reuters

Gains on Wall Street and a dollar slump helped boost oil prices Tuesday, although traders kept a wary eye on a predicted stockpile increase. U.S. benchmark crude settled up 42 cents at $81.42 a barrel on the Nymex, while in London Brent finished 20 cents higher at $86.03, Reuters reports.

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