Tag: oil price

Oil prices see steady decline as demand remains weak and production strong

Prices for crude oil have been in a steady slide for months thanks to a combination of anemic oil demand growth and a tide of growing production that hasn’t been slowed by international conflicts.  More »

Oil slips closer to $103 as supply fears recede

Oil has been falling steadily since it hit a 10-month closing high of $107.26 on June 20 as the Iraqi government has slowly re-established stability.  More »

Report: Iraqi strife could bring back 2008 oil prices

If the conflict in Iraq forced a third of the country’s oil production offline, it could thrust crude prices up $40 per barrel, a group of former military leaders and energy experts warned Tuesday.  More »

Little reaction in oil market to Chavez death

Oil markets are taking the death of Venezuelan President Hugo Chavez in stride, with the price of crude little changed Wednesday.  More »

Eagle Ford crude selling for far above threshold

The threshold level for drilling a profitable oil well in the South Texas oil and gas field is somewhere between $50 and $57 a barrel, a Baker Hughes executive said Wednesday.  More »

Oil supplies surging, but so is the price

Oil production in the United States has surged and use of petroleum products has fallen. In theory, those factors should have pushed the price of crude down. Instead, it’s gone up.  More »

7.3% of your paycheck goes in the tank

Texas drivers spent 7.3 percent of their income on gasoline in 2011, making them among the most vulnerable motorists nationwide to climbing fuel prices, according to a report issued Monday.  More »

Steffy: ‘The tale of two oils’

In my column last week about the Keystone XL Pipeline, I discussed how the price spread between West Texas Intermediate and Brent crude indicated the need for more pipeline capacity between the Midwest and the Gulf Coast. At the moment, Brent — which is basically the global price for oil — is about $113 a barrel. WTI is about $87.  More »