The head of the Organization of Petroleum Exporting Countries warned Thursday that oil prices would see an "unlimited" increase in the case of a military conflict involving Iran, because the group's members would be unable to make up the lost production.
Gas Prices
OPEC warns against military conflict with Iran
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Crude Oil Recovers a Penny
Oil-producing nations provided a mixed bag for traders. Iran tested missiles, increasing tensions, butRoyal Dutch Shell PLC said it restored some Nigerian production shut in the last month by militant attacks.
Gas Prices Spur Drivers to Cut Use to Five-Year Low
The weaker demand, combined with plentiful gasoline supplies, could eventually lead to lower prices at the pump.
Oil’s Climb Defies Saudi Bid To Talk Prices Down
"For the moment, the market is still preoccupied with the question: How high can it go?" said Tim Evans, an energy analyst at Citi Futures Perspective in New York.
Oil’s Rapid Rise Stirs Talk of $200 a Barrel This Year
Oil's historic ascent from $100 to nearly $150 a barrel in just six months is lending weight to a far grimmer prediction: Crude could reach $200 a barrel by the end of the year.
Gas Stations Hit Skids
...the state of the market doesn't bode well for anyone trying to exit the gas-retailing business, be they one-store owners or energy giant Exxon Mobil Corp. Last month, the company said it plans to sell its 2,220 stations in the U.S.; other oil companies already have shed most of theirs.
Oil prices: Warning of 20p a litre rise for petrol
Crude prices retreated by around a dollar a barrel yesterday but were still just under $145 a barrel, with many predicting they will soon push above $150.
The dark side of oil
On June 17, CBS Evening News televised a segment called "The Dark Side of Oil," in which the network named companies that make up the Intercontinental Exchange, an oil futures market speculation group that operates out of London to circumvent U.S. regulation.
Oil price: Slump in motor sales raises fears for viability of Detroit’s car industry
Fears are mounting over the financial stability of struggling US carmakers...
Cost of fuel may rise soon as gas price hits record
The price of gas is closely linked to oil, which remained close to a new record of nearly $144 a barrel yesterday.
Oil’s Latest Record: $140.21
The trifecta of skyrocketing crude-oil prices, slumping stocks and a weaker U.S. dollar haunts global markets...
Gas could fall to $2 if Congress acts, analysts say
There has been much discussion recently about how big a role speculators have been playing in the sharp rise in energy prices, though no consensus has emerged on this point.
Solution to the Global Petroleum Crisis
Rising petroleum prices may plunge the world into a global recession. Heres what to do about it.
Congress Looks for a Culprit for Rising Oil Prices
Until recently, lawmakers had focused on the traditional suspects: oil companies and the Organization of the Petroleum Exporting Countries. But increasingly, they are casting a suspicious eye on the role of investors, including speculators, in driving up prices.
Oil Is Little Changed After Rising on Nigeria Supply Disruption
Attacks on a Royal Dutch Shell Plc platform and a Chevron Corp. pipeline last week halted 300,000 barrels a day of Nigerian output. The country's white-collar oil union began a strike against Chevron today that may stop as much as 350,000 barrels a day
Oil Speculation Draws Scrutiny
WASHINGTON -- Lawmakers eager to curb speculation in oil markets got support Monday from witnesses who told a House subcommittee that oil prices could fall sharply if Congress put strict limits on trading in energy futures by investment banks, pension funds and other financial investors.
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