• Oil prices Apr 21, 2020

    Oil Prices Drop 300%, Hitting Record Low

    Oil prices hit a record low Monday, dropping nearly 300 percent, with May futures closing at negative $37 per barrel. Fewer drivers are on the roads and fewer planes are in the sky due to the coronavirus outbreak, causing demand to plummet. Oil storage facilities are nearing capacity as a result.

  • Oil prices Apr 10, 2020

    Oil Deal Starting With 10M Barrel Cut Hinges on Mexico, OPEC Says

    A deal between OPEC and nations including Russia to boost oil prices involves a 10 million barrels per day cut until July, then an 8 million barrels per day cut through the end of the year, though the cartel said Friday its approval hinges on Mexico’s agreement.

  • California May 24, 2019

    Soaring Gasoline Prices Peak Just in Time for Memorial Day Weekend

    The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season. Heading into Memorial Day, the national average gasoline price is coming off the year’s high and sitting just above $2.80 per gallon. The national average climbed 67 cents a gallon between New Year’s Day and May...

  • head Jan 1, 2019

    Plunge in Oil Prices Threatens Iraq's Postwar Recovery

    The latest plunge in oil prices has dealt a heavy blow to Iraq’s stagnating economy, threatening the new government’s ability to rebuild after the war with the Islamic State group and provide basic services to areas roiled by recent protests. Brent crude oil, used to price international purchases, briefly rose above $85 a barrel in October but has since plummeted...

  • Donald Trump Dec 28, 2018

    Trade War, Profits, Marijuana: Markets Saw It All in 2018

    Wall Street started 2018 strong, buoyed by a growing economy and corporate profits. It isn’t ending that way. U.S. stocks climbed to new highs early, shook off a sudden, steep drop by spring and rode a wave of tax cut-juiced corporate earnings growth to another all-time high by September. Then the jitters set in. Investors grew worried that the testy...

  • Donald Trump Nov 25, 2018

    Trump Aims Tweet at Migrant Caravans as Holiday Break Ends

    President Donald Trump is ending his Thanksgiving break in Florida the same way he began it — tweeting and spending time at one of his local golf courses. Trump congratulated himself on Twitter Sunday for falling oil prices, writing “thank you President T,” and admonished the Federal Reserve over interest rates. In a separate tweet, he called on Mexico to...

  • JUDGE Nov 9, 2018

    Federal Judge Blocks Construction of Keystone XL Pipeline in Montana

    A federal judge in Montana has blocked construction of the $8 billion Keystone XL Pipeline to allow more time to study the project’s potential environmental impact. U.S. District Judge Brian Morris’ order on Thursday came as Calgary-based TransCanada was preparing to build the first stages of the oil pipeline in northern Montana, The Great Falls Tribune reports. Environmental groups had...

  • Iran Aug 31, 2018

    Four-year High Gas Prices Are Still About $1 Cheaper Than the Most Expensive Labor Day

    Motorists this Labor Day will be paying the most at the pump since 2014, but those prices are nothing compared with the end of summer 2012, GasBuddy analyst Patrick DeHaan told CNBC on Friday. The average price for a gallon of gas over the Labor Day weekend is expected to be $2.84. That’s 20 cents higher than last year and...

  • United States May 12, 2018

    In First Iraq Elections Since ISIS Defeat, Record Low Turnout

    Iraq saw a record low turnout on Saturday in its first elections since the collapse of the Islamic State group, pointing to widespread dissatisfaction with the direction of the country under Prime Minister Haidar al-Abadi and presaging a long period of deal-making as politicians squabble over posts in a new government. There were no bombings at any polling stations —...

  • Donald Trump May 9, 2018

    How Trump Nixing the Iran Deal Will Affect Your Wallet

    Global oil prices plunged and then swung back wildly on Tuesday, following a series of conflicting news reports prior to President Donald Trump’s decision to withdraw from the Iran nuclear deal. The price of crude oil hit $70 a barrel this week for the first time since 2014, then plunged by around $3 Tuesday morning amid speculation that the president...

  • Japan Feb 6, 2018

    Asian Shares Tumble After Dow Has Worst Day Since 2011

    Asian markets were rattled Tuesday by the miseries on Wall Street, with Japan’s Nikkei 225 index briefly dipping more than 7 percent, but investors seemed to be taking the gyrations in stride. The Tokyo benchmark bounced throughout the day, ending 4.7 percent lower at 21,610.24. All regional bourses were battered a day after the Dow Jones industrial average suffered its...

  • NEW YORK Nov 29, 2016

    Oil Takes a Tumble as Concerns Rise Over Production Cuts

    Stocks closed slightly higher on Tuesday, boosted by health-care companies like UnitedHealth Group, as investors digested falling oil prices ahead of a key OPEC meeting.The Dow Jones industrial average closed about 25 points higher. CNBC reported. The S&P 500 gained 0.1 percent while the Nasdaq composite outperformed, closing 0.2 percent higher and hitting a new intraday high of 5,403.86. In...

  • NBC Sep 28, 2016

    OPEC Reaches Preliminary Accord to Curb Oil Production

    For the first time in eight years, OPEC agreed to reign in its oil output, causing oil prices to rise more than five percent, NBC News reported. The decision surprised traders as prices went above $48 per barrel. Sources in the Organization of Petroleum Exporting Countries said that output would be downsized from 33.24 million barrels per day to 32.5...

  • China Jan 27, 2016

    Fed Voices Concern About Global Economic Pressures

    The Federal Reserve sounded a note of concern Wednesday about how global pressures could affect the U.S. economy, while keeping a key interest rate unchanged. Six weeks after it raised rates from record lows, the Fed took stock of a more perilous international picture that could alter its plans for further raising rates. The statement it issued after its latest...

  • United States Jan 21, 2016

    Wall Street Opens Flat After Europe Banking Chief's Pledges Stimulus

    U.S. stocks traded mostly higher Thursday, trying to extend Wednesday’s late-session recovery, after the European Central Bank suggested it was willing to offer more stimulus at its next meeting in March, offsetting some pressure from low oil prices, CNBC reported. U.S. stock index futures spiked Thursday morning, with Dow futures briefly up 100 points, on ECB’s President Mario Draghi’s remarks....

  • PRESIDENT Jan 15, 2016

    Venezuela's President Declares Economic Emergency

    Venezuelan President Nicolas Maduro is using special decree powers to declare an economic emergency in the oil-dependent nation.

  • China Jan 4, 2016

    Dow Down 276 Over Fresh Concerns on China

    U.S. stocks traded sharply lower Monday, the first day of trading for 2016, weighed by renewed concerns of negative impact from slowdown in China and increased tensions in the Middle East. The Dow Jones Industrial Average closed down about 275 points, or 1.58 percent, closing at 17,149 points at the closing bell. Earlier, it had briefly fallen more than 450...

  • NEW YORK Dec 9, 2015

    Toyota Starts Sales of 4th Generation Prius Hybrid

    Toyota said Wednesday it expects annual sales of its newly-released fourth generation Prius hybrid to reach as many as 350,000 vehicles despite a big drop in oil prices making traditional gasoline cars cheap to run....
    The automaker is promising mileage of 40.8 kilometers a liter (96 miles a gallon) in Japan for its latest version of the gasoline-electric car, better than...

  • California Feb 9, 2015

    US Gas Prices Jump 13 Cents a Gallon; Could Go Higher

    The average price of a regular gallon of gas jumped 13 cents in the past two weeks to $2.20, ending a sustained drop.

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