General Motors Co. says it will raise prices by an average of $123 per vehicle to make up for higher oil and metal costs. Get the full story »
Inside these posts: oil prices
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Obama says little he can do about high oil prices
President Barack Obama wears a Chicago Bulls cap at last night's Navy Pier fundraiser. Obama said Friday that there is little he can do about high oil prices. (Mandel Ngan/AFP/Getty Images)
President Barack Obama said there are no quick fixes to bring down rising gasoline prices and urged caution about being too quick to tap U.S. emergency oil reserves amid uncertainty in the Middle East.
“There aren’t going to be a lot of great short-term solutions to this problem,” Obama said in an ABC interview aired Friday. Get the full story »
Northern Trust survey: Inflation fears spur caution
Fears of inflation and a spike in oil prices are causing institutional investment managers to become more risk-averse, according to a survey of institutional managers by Northern Trust Global Advisors. Get the full story »
Higher oil shouldn’t trigger Fed rate hike: Evans
Rising oil prices are unlikely to push up core inflation and thus should not trigger any interest-rate hikes from the U.S. Federal Reserve, according to research from a top Fed official on Monday. Get the full story »
Decline in UAL traffic hits its stock, other airlines’
Airline stocks are declining after United Continental reported that traffic fell at a faster pace in March.
“People are very nervous about pricing due to rising oil prices,” says Wolfe Trahan analyst Hunter Keay. Get the full story »
Oil climbs above $110 on Libya, Mideast unrest
The main U.S. oil contract breached $110 a barrel for the first time in 2 1/2 years Thursday, lifted by fighting in Libya and signs of an economic recovery in the U.S.
Light, sweet crude for May delivery settled up $1.47, or 1.4 percent, at $110.30 a barrel on the New York Mercantile Exchange, the highest settlement since September 2008. Brent crude on the ICE futures exchange settled up 37 cents, or 0.3 percent, to $122.67, the highest settlement since August 2008. Get the full story »
Oil prices ‘great concern’ for economy: Chu
Energy Secretary Steven Chu said on Thursday high oil prices posed a threat to the global economy. “The oil producer countries and the oil consuming countries are concerned because it does have an impact on a very fragile economic recovery. There is great concern,” Chu told a news conference while attending a clean energy conference. Get the full story »
Oil tops $110 after latest Japan quake
Oil prices jumped above $110 a barrel after Japan was hit with another major earthquake. April oil futures rose $1.32, or 1.3 percent, to $110.15 a barrel. Prices had jumped as high as $110.44 – a level not seen since September 2008. Get the full story »
US Airways latest to cut flights over oil prices
A US Airways ticket counter at O'Hare, April 8, 2010. (Tim Boyle/Bloomberg)
Major U.S. airlines announced further 2011 capacity cutbacks to cope with the dramatic increase in fuel prices, with Delta Air Lines Inc. also citing the earthquake in Japan for a hit to earnings in the current quarter.
US Airways Group Inc. said it would reduce flying this year, joining United Continental Holdings and other carriers that have outlined capacity curbs. Get the full story »
Oil prices fall below $100 a barrel
Oil prices fell more than $3 per barrel on Tuesday as investors worried about the impact of the Japanese crisis on the global economy. U.S. crude for April delivery slid $3.52 to $97.67 a barrel in electronic trading. The contract was down as much as $4.48 before rebounding. Get the full story »
Oil prices sliding back toward $100 a barrel
Oil prices fell Friday, briefly slipping below $100-a-barrel level, after a massive earthquake and tsunami struck Japan.
The main U.S. oil contract, West Texas Intermediate, for April delivery dropped $1.54 to settle at $101.16 a barrel. Earlier, prices hit a low of $99.01. Get the full story »
Stocks fall sharply on global, economic fears
U.S. stocks plunged into a deep sea of red Thursday, as economic fears at home and political concerns in Saudi Arabia weighed heavily on investor sentiment.
The Dow Jones industrial average tumbled 228 points, or 1.9 percent, to end at 11,985. It was the worst point drop in the Dow since Aug. 11. Get the full story »
OPEC mulls boosting oil output
OPEC oil producers are consulting about a supply boost but many in the group remain sceptical, saying high prices are due to fears of shortage and world supply is comfortable despite the loss of Libyan crude. Get the full story »
March 7 at 6:46 a.m.
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Filed under: U.S. oil tops $106, highest in 2.5 years
Oil prices rose to a fresh 2-1/2 year high early Monday, climbing above $106 a barrel, as the violence in Libya continues to unsettle the market. Get the full story »
U.S. may tap oil reserves as gas prices rise
The U.S. government reiterated that it could tap its strategic oil reserves in order to safeguard economic growth as surging gasoline prices increase pressure for action. Get the full story »
