Oil and gas prices have been going up, and the whole thing continues to take up an important piece of the spotlight. Because we know that the average gallon of gasoline is hovering around $4, it is considered that either some left-wing conspiracy must be promoting alternative energy or proofing that is enough to develop our own resources, according to the right wing claims.
The recovery of U.S. from the brutal recession has been uneven and modest, and has been hampered by a depressed housing market, tight credit for borrowers, budget-leashed governments and uncertainties in resolving the eurozone debt crisis. The job market is far from normal. Continued improvement is likely to require stronger growth in final demand and production.
A high rise in the oil market shot the crude oil prices above $ 102 a barrel in Asia. The rise in the crude oil prices come as Iran decided to increase threats to cut the supply of crude oil to many of the European countries from the region after sanctions were imposed by the European Union against the Iranian energy and banking sectors.
This year end has seen a rise in the prices of crude oil for the sixth day, adding 0.1% or 11 cents to $101.45 a barrel on Globex during Asian trading hours. This has been the highest level for crude oil in the past six months.
Due to weak economic growth projections in the United States, slumping manufacturing activity in China, and continuing instability in Europe, oil prices dropped yesterday to under $97 a barrel. Crude oil prices are falling despite stronger demand from the U.S and China and a decrease in oil supplies in the U.S. Prices at the Pump [...]
Crude oil and natural gas prices in New York are dropping, according to the latest reports. The crude oil futures contract on the 12th of October closed at a rate lower than was expected. With weather conditions easing up and natural gas reserves expected to grow, natural gas prices in New York too have dropped, at a rate of 3.6%.
With heating oil and crude oil prices reaching 27-month highs as supplies of crude fell to the lowest level in 11 months, the scary prospect of $100-per-barrel oil almost became a reality as crude prices rose almost to within a dollar of the psychologically important level last seen more than two years ago. Considered a [...]