Shale gas, not Iran pipeline, our energy hope
External affairs minister S M Krishna visited Tehran in mid-May and said India was still interested in the proposed Iran-Pakistan-India (IPI) gas pipeline, but expressed reservations on security grounds. However, there is now a more important economic reason to oppose the pipeline. The IPI gas price has become ridiculously high in the light of new ...
Good News on Gas Prices, stocks, not so much
Looks like gasoline prices will be on the low side this weekend, and maybe even through June, but whatever money you save at the pump probably won’t make up for what you lost in the stock market this month, what with the Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 10,135, +235.57, +2.38%) notching a 7.9% drop ...
Oil Jumps More Than $3 as China Reaffirms Support for Europe
Crude oil surged more than $3 a barrel as equities and the euro rallied after China affirmed its commitment to investing in Europe. Oil climbed 4.3 percent as China denied as “groundless” a report that it’s reviewing euro holdings and the nation’s sovereign-wealth fund said it’s maintaining European assets. The euro gained 1.5 percent against ...
Oil prices jump nearly 3 percent
NEW YORK — Oil prices jumped nearly 3 percent Wednesday, riding a rally on Wall Street and a government report that said demand grew for big-ticket goods like refrigerators and airplanes. Benchmark crude for July delivery added $2.05 at $70.80 a barrel on the New York Mercantile Exchange. In London, the Brent crude rose $1.65 ...
Oil falls 2% in global sell-off
NEW YORK (CNNMoney.com) — Oil futures slumped 2% Tuesday as political tension between North and South Korea — and Europe’s continued economic woes — sparked a sell-off in global stock markets. What prices are doing: Crude for July delivery, fell $1.46, or about 2%, to settle at $68.75 a barrel Tuesday. Click the chart for ...
Gas prices continue drop; still well ahead of 2009
Saturday, May 22, 2010 at 9:23 a.m. The average price of a gallon of self-serve regular gasoline in San Diego County fell 1.2 cents today to $3.088, a day after a 1.4-cent decline. Declines in seven of the last nine days, including 1.4 cents Thursday, have pushed the average price 4.5 cents below what it ...
Stocks recover, oil prices rebound
Stocks skid on global economic jitters Stocks recovered from deep losses posted earlier in the session but ended lower Wednesday, as investors welcomed the Fed’s forecast of an improving economy amid lingering fears about the global economy. The Dow Jones industrial average finished 67 points lower, or 0.6 percent. Earlier, the index dropped 150 points. ...
OIL FUTURES: Crude Ends Higher On Improved US Economic Outlook
NEW YORK (Dow Jones)–Crude futures snapped a six-session losing streak Wednesday, boosted by the Federal Reserve’s improved outlook for the U.S. economy even as concern grew about Europe’s recovery. However, gains were limited to light, sweet crude for June delivery, which expires Thursday. The contract settled 46 cents, or 0.7%, higher at $69.87 a barrel, ...
Gas will go up in the near future!
This 80-Year Old Oil Man Thinks So, Too Henry Groppe, a Texas petroleum analyst with a long track record of betting against the herd, believes natural gas will double by the end of summer 2010. He’s arguing that shale wells are depleting rapidly, and that there is a real shortage of gas “which will become apparent ...
