One year ago, on July 3, 2008, oil prices settled at a record high -- a once-unthinkable $145.29 a barrel
Oil prices rose above $70 a barrel Thursday after Nigerian rebels attacked a Royal Dutch Shell pipeline, raising worries about supply from the OPEC-member nation.
Gas prices have risen for 50 days in a row and the pain at the pump is taking a toll on household budgets across the nation.
Ask a group of oil analysts about the recent surge in crude costs and here's the consensus answer you'll get: Prices have run up too far, too fast and they aren't supported by the fundamentals.
Oil sold off Monday to settle near the $70 mark as the dollar rose, stocks fell, and a slew of global events put downward pressure on prices.
Gas prices are creeping towards $3 a gallon and consumers are getting squeezed. That has many analysts worried that another painful summer driving season will stifle an economic recovery.
Oil jumped near $73 a barrel on Thursday after the International Energy Agency raised its estimate for 2009 oil demand for the first time in 10 months.
Oil prices fell slightly Monday as lower U.S. stocks and a higher dollar pushed crude off recent highs.
Oil prices extended their decline Wednesday after a weekly government inventory report said crude supplies rose unexpectedly.
Oil rose above $65 a barrel Thursday after OPEC decided to leave the group's crude production unchanged and an inventory report showed an unexpected decline in supply.
One year ago, on July 3, 2008, oil prices settled at a record high -- a once-unthinkable $145.29 a barrel
Oil prices rose above $70 a barrel Thursday after Nigerian rebels attacked a Royal Dutch Shell pipeline, raising worries about supply from the OPEC-member nation.
Gas prices have risen for 50 days in a row and the pain at the pump is taking a toll on household budgets across the nation.
Ask a group of oil analysts about the recent surge in crude costs and here's the consensus answer you'll get: Prices have run up too far, too fast and they aren't supported by the fundamentals.
Oil sold off Monday to settle near the $70 mark as the dollar rose, stocks fell, and a slew of global events put downward pressure on prices.
Gas prices are creeping towards $3 a gallon and consumers are getting squeezed. That has many analysts worried that another painful summer driving season will stifle an economic recovery.
Oil jumped near $73 a barrel on Thursday after the International Energy Agency raised its estimate for 2009 oil demand for the first time in 10 months.
Oil prices fell slightly Monday as lower U.S. stocks and a higher dollar pushed crude off recent highs.
Oil prices extended their decline Wednesday after a weekly government inventory report said crude supplies rose unexpectedly.
Oil rose above $65 a barrel Thursday after OPEC decided to leave the group's crude production unchanged and an inventory report showed an unexpected decline in supply.
Oil flirted with $64 a barrel on Wednesday after the Saudi oil minister said the global economy can handle oil prices between $75 and $80.
Oil prices rebounded Tuesday to their highest level this year as a triple-digit rally on Wall Street pulled crude off its earlier lows.
Oil prices rose Friday as the dollar lost ground on growing woes over the creditworthiness of the U.S. and as a report showed that demand for oil is recovering in China.
You've probably noticed it at the gas pump.
Oil prices sank Thursday, retreating from six-month highs reached in the previous session, as all three major U.S. stock indexes fell hard and the U.S. dollar gained ground.
Oil rose Tuesday, although it eased from an earlier six-month high over $60 a barrel, as investors digested a tepid advance on Wall Street and waited for a supply report expected to show a dip in inventories.
Oil prices rose modestly Thursday, recovering from earlier losses, as investors looked past a grim outlook for world oil demand to focus on Wall Street gains.
Oil prices held their gains Tuesday, after climbing to a six-month high, as investors weighed signs of economic stabilization against weak energy demand and record-high crude inventories.
The price of oil is back towards $60 a barrel for the first time since November. Prices have shot up more than 70% since hitting their low point for the year in mid-February.
Oil prices fell Monday, after hitting a high for the year in the previous session, as optimism about an economic recovery was tempered by ongoing concerns about weak demand and record-high inventories.
Oil prices ended above $53 a barrel Friday for the first time in more than a month as new economic reports showed that the nation's recession may be easing.
Oil prices ended just under $50 a barrel Tuesday as investors see the global swine flu outbreak chipping away at already weak demand for energy.
The price of oil fell nearly 3% Monday as concerns about the potential economic repercussions of a swine flu pandemic weighed on the stock market and lifted the U.S. dollar.
The price of oil fell sharply Monday as the dollar advanced and investors remained concerned about weak demand and rising inventories.
Ever since crude hit a record high of $147 per barrel last July, owning oil stocks has been a little like bungee jumping - a long, terrifying plunge that you pray will be followed by a life-affirming bounce. Well, it may finally be time to exhale.
Oil prices rose Wednesday - ending a 3-day decline - as stocks advanced and a government report showed supplies of crude increased less than expected.
Oil prices ended the session higher on Tuesday, just shy of the $50 a barrel threshold, as a Wall Street rally picked up steam late in the trading day.
Oil prices fell Friday but managed to close above $50 a barrel for the second day in a row as investors mulled the trillion dollar U.S. plan that is aimed at thawing credit markets.
Crude closed at $33.87 a barrel earlier this winter, and that's likely the lowest we'll see for some time.
Oil prices jumped Thursday, closing above the $50 threshold for the first time since late November, as the dollar weakened significantly after the government announced it would spend another $1 trillion.
Oil prices sank nearly a dollar Friday as OPEC and the IEA cut their 2009 demand projections.
Oil prices rose more than 14% Thursday after the government reported that the nation's supplies of crude fell last week for the first time in two months.
Oil prices plummeted Wednesday after an international report said global demand for crude will continue to fall in 2009, re-igniting oversupply concerns.
Oil prices fell Monday, erasing earlier gains, as the market remains confined to a narrow trading range by concerns about waning demand and ongoing production cuts.
Oil prices turned lower Wednesday, as a bigger-than-expected increase in the nation's crude supply offset indications of further OPEC production cuts.
Oil prices ended higher Friday after seesawing following a major world energy report that projected demand for crude would continue to decline through 2009.
Oil prices fell nearly $2 a barrel Thursday, to the lowest close since Christmas Eve, as global economic weakness and falling demand continued to weigh on the market.
Oil prices dipped a bit Wednesday after the government's weekly supply report and fresh recession concerns continued to chip away at demand.
The price of oil rose Tuesday, ending five days of declines, after Saudi Arabia signaled additional production cuts and Fed chairman Ben Bernanke said stimulus plans could aid an economic recovery.
The price of oil fell Monday as investors remained focused on last week's bad economic news and bet that demand for petroleum products will continue to decline.
Gasoline prices have surged some 10% over the past week but don't expect the $4-a-gallon record highs of last summer anytime soon.
Oil prices fell Friday after a government report showing significant job losses added to concerns about weaker demand in an ailing economy.
Oil prices extended their declines Thursday as further signs of economic weakness signaled a slowdown in demand.
Oil prices fell Wednesday in one of the biggest single-day declines in history, after a woeful supply report gave previously bullish investors little reason to believe oil would sustain a rally anytime soon.
Average gasoline prices jumped nearly 4 cents on Wednesday, according to a national survey of gas station credit card swipes.
Oil prices fluctuated wildly Tuesday then settled slightly lower after a handful of dismal economic reports countered signs that OPEC nations were starting to comply with planned output cuts.
Gasoline prices rose for the sixth straight day Monday, according to a nationwide survey of gas station credit card swipes - a sign that oil companies expect higher demand later this year.
Oil prices rose nearly 4% on the first trading day of 2009, as fighting in the Middle East and Russia's energy dispute with Ukraine raised concerns about future supply disruptions.
Gas prices increased for the third straight day Friday, to an average of $1.626 for a gallon of regular unleaded gas, according to motorist group AAA. That's nearly a one-cent jump from the previous day's average of $1.618.
The price of oil jumped Wednesday, capping a volatile year with a swing of $7 from the session low to the close, as investors responded to news of a possible supply disruption in Europe.
The price of oil fell Tuesday, after a big rally in the previous session, as dour economic reports darkened the outlook for already weak demand for oil and gasoline.
A daily survey of gas station credit-card swipes shows that gas prices are dropping to the lowest levels in nearly five years.
Oil prices rose above $40 a barrel Monday as investors took a more subdued look at Middle East production in the wake of Israeli airstrikes against the Gaza Strip.
As 2009 approaches, plummeting oil prices have sent the price of gasoline to the lowest level in nearly five years, according to a daily survey of gas station credit card swipes.
Oil prices rose back above $37 a barrel Friday after OPEC member United Arab Emirates detailed how it would cut production as part of the trade group's pledge to reduce output by 2.2 million barrels a day in January.
Oil prices fell more than $3 a barrel or more than 9% - one of the largest percentage drops ever - on a shortened trading session Wednesday that brought more signs that demand continues to wane.
Gasoline prices declined for the fourth straight day on Tuesday, falling below the $1.66 per gallon mark, according to a national survey of credit card swipes at gasoline stations.
Oil prices fell Monday as investors continued last week's practice of falling prices leading up to the Christmas holiday, and the dollar earned back early losses against the euro.
Gasoline prices dropped for their second day in a row after four straight days of increases, according to a daily survey of gas station credit card swipes.
Gasoline prices dropped Saturday after four straight days of increases, according to a daily survey of gas station credit card swipes.
Oil prices fell sharply Friday, on the last day of the January contract, as the global economic slowdown continues to clamp down on demand.
Gasoline prices increased for the fourth day in a row Friday, according to a daily survey of gas station credit card swipes.
The Organization of Petroleum Exporting Countries, in a bold but not unexpected move to prop up falling oil prices, said Wednesday that it would cut production by 2.2 million barrels a day starting next month. The cut is the largest ever announced by OPEC.
Gasoline prices continued to drift upward Wednesday after breaking 86 straight days of declines over the weekend, according to a daily survey of gas station credit card swipes.
Oil prices tumbled Tuesday after the Federal Reserve lowered its key interest rate and said economic conditions remain weak, underscoring concerns about faltering demand for energy.
Gasoline prices rose slightly Tuesday after breaking 86 days of declines this weekend, according to a daily survey of credit card swipes.
Gas prices posted gains this weekend for the first time in 86 days, according to a national survey of credit card swipes. But on Monday fuel prices began to retreat again.
Gas prices rose for the second consecutive day following eighty-six consecutive declines.
Oil prices fell Friday as investors responded to uncertainty surrounding the government's proposed bailout of the auto industry.
New York on Friday joined the other 47 states in the contiguous United States with an average gasoline price below $2 a gallon, according to a motorist group's survey, leaving just Alaska and Hawaii above the milestone.
Oil prices jumped Thursday after the House passed a $14 billion stop-gap measure designed to keep the U.S. auto industry from immediate collapse.
Gas prices fell 1.9 cents Thursday to a national average of $1.664 a gallon, according to a nationwide survey of gas station credit card swipes.
Oil prices rebounded Wednesday after Congress reached an agreement with the White House on a bailout for the U.S. auto industry. Prices had fallen earlier after a government report showed a bigger-than-expected buildup in gasoline supplies.
The average price of gasoline in the U.S. continued its downward spiral for the 84th day, according to a daily survey of credit card swipes.
Gas prices in the U.S. fell for the 82nd day Monday, according to a national survey of credit card swipes.
With oil now at $50 a barrel, you no longer hear Congress complaining about oil speculators. The irony is there's probably more real speculation going on today than there ever was back in June and July.
Gasoline prices continued their steady descent Friday, with the average national price in a motorist group's survey falling for the 79th consecutive day.
Oil prices fell to nearly a 4-year low Thursday, dipping below the $44-a-barrel mark, as concern about the economies of Europe and the United States continued to weigh on energy demand.
Gas prices have been in decline for the past 77 days as the slowing economy has driven down the price crude oil, according to a daily survey released Wednesday.
Oil prices continued falling on Tuesday, tumbling to 3-1/2 year low, as concern about the floundering global economy and falling demand again took center stage.
The days of oil companies shattering profit records are likely gone, at least for now.
Gas prices fell for the 76th consecutive day and sold below $2 a gallon in all but three states and the District of Columbia, according to a daily survey of credit-card swipes at gas stations released Tuesday.
Oil prices fell back below $50 a barrel Monday, to its lowest level in more than 3-1/2 years, after OPEC said it would wait until its next scheduled meeting in mid-December to consider further production cuts designed to stabilize prices.
Gas prices fell for the 75th consecutive day on Monday, and sold below $2 a gallon in all but three states and the District of Columbia, according to a daily survey of credit-card swipes at gas stations.
Gas prices fell to their lowest level since 2005, coming within 4 cents of $1.80 a gallon, according to a daily survey of gas station credit card swipes by motorist group AAA.
Gasoline prices declined for the 70th straight day, falling below the $1.87 per gallon mark, according to a national survey of credit card swipes at gasoline stations.
The price of oil fell Tuesday, after a big rally in the previous session, as investors looked past the government's latest economic intervention to focus on the long-term economic outlook and waning energy demand.
The price of oil surged Monday as investors cheered the federal government's massive rescue package for banking giant Citigroup.
Gas prices dropped nearly 33 cents in the past two weeks, dipping below $2 for the first time since March 2005, a national survey said Sunday.
Gasoline prices continued to sink, falling for the 67th day in a row, according to a national survey of gas station credit card swipes released Sunday.
The price of oil fell Friday, settling at a 5 1/2 year low, as volatile stock prices raised concerns about waning global energy demand.
It took gas prices more than three years to rise from $2 to a record high of $4.11, but just four months to plummet all the way back again - and then some.
Oil fell on Monday and ended at a 21-month low as fears over the global economic slowdown accelerated on news that Japan officially fell into a recession.
Remember $4 gas? Soon it will be $2 gas.
Remember $4 gas? Soon it will be $2 gas.
Oil prices fell Friday as investors took cues from from the selloff in stocks as an indicator of weak global demand for energy.
Retail gasoline prices fell further overnight, bringing the decline since the summer's record high to nearly $2 a gallon, according to figures released Friday.
Oil prices rebounded from a 21-month low Thursday as equity markets recovered and investors weighed the possibility that OPEC may pledge another production cut before the end of the month.
The price of oil fell to a 19-month low Tuesday, sliding below the psychologically important $60 level, as investors looked past China's massive economic stimulus plan to focus on weak global demand and a stronger dollar.
Gasoline prices are falling across the country with 46 states and the District of Columbia posting prices below $2.50 a gallon.
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