A spike in the price of crude historically has foreshadowed economic slumps and economists are worrying anew after the price touched its highest in nine months, above $113 a barrel, amid fresh violence in Iraq,
Last month, the Department of Energy announced its plans to build a gasoline storage reserve in the Northeast. Widespread shortages caused by massive super storm Sandy sparked plans to mitigate future risks in affected Northeastern states. The gasoline reserve will hold nearly one million gallons of gasoline, providing power to first responders and generators. The […]
Unrest in Iraq helps make the case that U.S. regulators should authorize crude exports as well as the controversial Keystone XL pipeline, the head of the oil industry’s leading trade group said Monday.
International crude prices climbed to their highest point in 10 months on fears that sectarian violence in Iraq will spill into the south and cut off crude exports from the port at Basra, but that’s a highly unlikely scenario, experts said Friday.
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