Oil Price Hits Lowest Level This Year

Oil hit a low of $84.19 a barrel on Thursday, the lowest price we’ve seen since October of 2007.
Prices for crude seemed to be about to run out of control, when just this summer, the price of oil had reached an all time high at $147.27 a barrel. This is an almost 43 per [...]

OPEC Calls Emergency Meeting

More Proof that U.S. Demand for Oil is Decreasing??
 
OPEC will be meeting one month ahead of schedule. “Emergency” meeting? I am posting on this topic again because of another assertion by the Financial Times on the reason for the said decrease.  This post is related to OPEC’s “emergency” meeting which is said to be necessary [...]

Is the U.S. Demand for Oil Decreasing Significantly?

Green Minds Want to Know

The price of oil is down for the third consecutive day. Priced at $93.46 a barrel and down from a high of $147 in July, oil traders are watching the bailout very closely.
However, a Reuters article I found today did suggest something that appealed to my green thinking which was that [...]

How Does the Devaluation of the US Dollar Affect the World Oil Industry?

This is a topic that I understand much better than oil prices and inflation so I thought I would say a few things about it. Dollar devaluation tightens oil supplies, increases demand, and keep oil prices high for an extended period of time. Dollar devaluation also creates problems for the world oil industry. Oil producing [...]

Oil Traders Subpoenaed After Oil Price Sees Biggest One-Day Surge Ever

 
Who or What Really Drives the Price of Oil?

On Monday, September 22nd crude oil prices saw their biggest one-day surge ever. The sudden price surge called federal regulators to subpoena the records of several Wall Street traders.

“The jump immediately caused analysts and traders to suspect that one or more traders holding short positions — bets [...]

Oil: How low can it go?

Article found on CNN Money
 
With the little bit of relief that we’ve all experienced at the pump, it is easy for people to lose sight of the fact that six months ago we all would have thought that $3.75 was high. (at about $108 a barrel, the price of oil is around 50% higher than [...]