Oil Prices Tumble To A 7-Year Low
The price per barrel of oil is at its lowest level since the start of the 2008 recession. Oil tumbled by 6% on Monday to just $37.50 a barrel. Oil peaked at $108 per barrel in June 2014 before starting...
View ArticleOil prices just fell by 3% during another crazy month
Oil prices declined by more than 3% on Monday, falling below $37 a barrel. The decline occurred after crude managed to top $38 per barrel on Thursday. Crude started the month above $41. Oil is down...
View ArticleOil prices continue to plummet on China concerns and a strong US Dollar
Oil prices fell on Tuesday as investors continued to worry about economic growth in China and the US dollar continued to pick up strength. Brent crude prices, a global benchmark for oil pricing, fell...
View ArticleCrude Oil slips 2% as output remains high and China’s troubles continue
Crude oil prices fell by more than 2% on Tuesday as the cost per barrel continues to slide ever more closely to the $30 price point for the first time in 12 years. The sell off is in large part being...
View ArticleBP is firing 4,000 workers as oil prices continue downward spiral
British oil and gas company BP has announced plans to terminate 4,000 employees or approximately 5% of its global workforce. The company on Tuesday says it aims to reduce its global oil production, or...
View ArticleFalling oil prices are causing foreclosures in these 3 states
The oil industry is plummeting and its causing major problems in some housing markets. Foreclosure filings on a national level dropped to a nine-year low in 2015, but some oil-producing states are...
View ArticleOil prices slide to lowest point since 2003 as Iran floods market
Oil prices have reached their lowest price since 2003 in early trading on Monday, as the market braces for a big jump in oil exports led by lifted sanctions in Iran. The UN nuclear watchdog group on...
View ArticleOPEC believes the oil market will begin to rebalance in 2016
Oil prices remain below $30 a barrel on Monday but the Organization of the Petroleum Exporting Countries (OPEC) believes prices will eventually stabilize in 2016. “After seven straight years of...
View ArticleSome oil is already selling for less than $20 a barrel
While most of the world’s oil is still selling in the $29 range, there are some markets where 12-year lows have sent the cost of barrel below $20-a-barrel. It should be noted that the regions listed...
View ArticleThe Koch brothers recently purchased oil for -$0.50 per barrel
The oil market is awful enough that the Koch brothers were recently able to purchase oil at a negative price point of -$0.50 While some oil markets are selling near $20 per barrel, Canada’s bitumen is...
View ArticleOil futures just crashed below $28 a barrel
Oil futures continued to decline on Wednesday as U.S. crude reached its lowest since 2003. U.S. crude oil dropped more than 4% in early trading, falling to as low as $27.32 a barrel. The sinking future...
View ArticleCrude oil surges above $31 a barrel
Oil rallied for the second day in a row, surging above $31 a barrel on Friday morning. Prices rose 4.2% Thursday to settle at $29.53 a barrel. That was the biggest one-day percentage gain since October...
View ArticleOil Prices Fall Again, Taking U.S. Shares Along For The Drop
Global markets bounced back slightly after sharp drops last week, but still-falling oil prices kept investors uncertain about the future. Benchmark Brent crude fell $1.85 to $30.34 a barrel, a 5.75...
View ArticleStocks tank as oil hits $30 a barrel
The Dow dropped 250 points on Monday morning as oil prices hit the $30 a barrel price point. The tech-heavy Nasdaq sunk by 2.3% and is preparing to close at its lowest level since October 2014. The...
View ArticleIran wants oil payments to be made in Euros and not US dollars
Officials in Iran are preparing to sell their oil to the world again, however, the country’s government is asking for payment in Euro’s instead of US dollars. “Our top priority is to receive cash and...
View ArticleOil prices just fell below $27 a barrel
Oil prices are continuing to drop, falling a dramatic 4% on Thursday to end below $27 a barrel. The last time oil dropped below $27 was in 2003. While oil price decreases equal savings at the pump for...
View ArticleOil creeps above $33 a barrel on talk that OPEC might take action
Oil prices managed to hold onto last week’s gains on speculation that OPEC may finally agree to cut production, helping to ease over-supply in the market. Brent crude futures LCOc1, the global...
View ArticleOil gives up gains as hopes for a production cut fizzle
Oil prices gained 5% on Tuesday but then gave back all that ground as talks between Saudi Arabia and Russia failed to reduce production. Oil ministers from the two countries met on Tuesday and agreed...
View ArticleOil heads towards $30 a barrel and markets are freaking out
The Dow fell more than 200 points and the S&P 500 slid 1.3% on Wednesday morning as oil took a 4% hit and slide to $30.60 a barrel. The latest oil slip arrives after Saudi Arabia ruled out the idea...
View ArticleIran to massively increase oil output despite OPEC freeze
Iran will not follow in the footsteps of OPEC and Russia as they plan to freeze oil output. Instead, the country plans to pump an additional one million barrels of oil per day. “Iran is not the cause...
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