Positive consumer spending data helped push oil prices higher early Tuesday, although benchmark crude is looking likely to rack up its largest quarterly drop in some two and a-half years. U.S. prices were 19 cents higher to $94.76 a barrel in electronic trading on the Nymex, while in London Brent gained 32 cents to $97.52, Reuters reports.
Oil prices increased Monday as refinery maintenance shutdowns have begun pushing gasoline prices higher. U.S. benchmark crude for November delivery jumped $1.03 to settle at $94.57 a barrel on the Nymex, while in London Brent crude inched up 20 cents to $97.20, Reuters reports.
The strong dollar and increasing speculation that the Federal Reserve might increase interest rates pressured oil prices early Monday. West Texas Intermediate crude for November delivery was 37 cents lower at $93.17 a barrel in electronic trading on the Nymex, while in London Brent crude dropped 73 cents to $96.27, Bloomberg reports.
A Commerce Department report of a sizeable expansion of the U.S. economy in the second quarter fueled a rise in oil prices Friday. West Texas Intermediate crude for November delivery jumped 1.1 percent, gaining $1.01 to settle at $93.54 a barrel on the Nymex, while in London Brent crude was unchanged at $97, leaving the smallest spread between the two in a year, Bloomberg reports.
“Abundant” supplies and weaker demand pressure continued to keep a lid on oil prices early Friday despite coalition air strikes against Islamic State oil installations in Syria, analysts told Reuters. U.S. benchmark crude gained 32 cents to $92.85 a barrel in electronic trading on the Nymex, while in London Brent crude was up just 2 cents to $97.02.
Oil prices got support Thursday from news that Libyan production is climbing even as the dollar hit a four-year high. West Texas Intermediate crude slipped 27 cents to settle at $92.53 a barrel on the Nymex, while in London Brent crude finished 5 cents higher at $97.00 despite wide swings during the trading day, Reuters reports.
NEW YORK (AP) — The price of a gallon of gasoline may soon start with a "2'' across much the country.
Gasoline prices typically decline in autumn, and this year they are being pulled even lower by falling global oil prices. By the end of the year, up to 30 states could have an average gasoline price of less than $3 a gallon.
Oil inched down early Thursday but looked set to keep most of the gains racked up a day earlier on news of a supply drop. West Texas Intermediate crude for November delivery was down 14 cents to $92.66 a barrel in electronic trading on the Nymex, while in London Brent crude lost 25 cents to $96.70, Bloomberg reports.
The U.S. Court of Appeals for the District of Columbia Circuit on Thursday lifted a stay on the Environmental Protection Agency’s implementation of its Cross-State Air Pollution Rule, although legal arguments on challenges to some aspects of the regulation are set to take place next March, E&E reports.
Producers for American Crude Exports, or PACE, for short, is made up of more than a dozen independent oil companies who would like to see the decades-old U.S. ban on crude exports overturned, Reuters reports.
The Federal Energy Regulatory Commission staff has cleared the Constitution pipeline on its environmental impact, leaving Commissioners to make the final decision on the project, which is intended to add some 650 million cubic feet of natural gas capacity in New York and New England, FuelFix reports.
If the Federal Energy Regulatory Commission approves changes that PJM Interconnection will suggest to the rules, it’s possible the wholesale electricity market manager might find a way to keep a demand response program going despite legal challenges, E&E reports.
Rising global supply and sluggish demand were continuing to weigh on oil prices. U.S. benchmark crude for December delivery dropped $1.08 to settle at $81.01 a barrel on the Nymex, $1.74 lower than the price a week ago, while Brent finished at $86.13, a loss of 70 cents on the day and 3 cents less than last Friday’s settlement price, Reuters reports.
ConocoPhillips, alongside partners including BP and Exxon Mobil, has announced what it says is the first new drilling in the North Slope’s Kuparuk River Field in nearly a dozen years, a well to come on line in 2016 that will add 8,000 barrels a day of production, Platts reports.
In one of the most hotly contested and expensive House races in the country, Rep. Nick Rahall, D-W.Va., is battling against Republican candidate Evan Jenkins and powerful conservative groups backed by the Koch brothers, The New York Times reports.
Kristin Jacobs – who has turned in a strong performance in her campaign to be elected to the Florida House of Representatives in a flood-prone Miami district – is one of a number of candidates who are successfully pressing climate change as an issue even when polls say it’s not a top voter concern, The New York Times reports.
Opower says pilot programs run in Vermont and Southern California over the summer, which involved contacting customers to ask them to go easier on their air conditioning and then reporting back to them on how much electricity they saved compared to their neighbors, cut usage by nearly 3 percent on a number of hot days, The Washington Post reports.