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A collection of news and information related to Petroleum Industry published by Tribune Company sources.
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Stocks swing wildly, surge late
The Associated PressWall Street seesawed Friday, with the Dow Jones industrials dropping nearly 700 points in the early going and fluctuating wildly in the last hour while investors looked for bargains after eight straight days of massive losses. The Dow still headed for its...Tags: New York Mercantile Exchange, Money and Monetary Policy, Wachovia Corp., Gold and Precious Material, Stock Activities
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Oil prices plummet to 13-month on fears global slowdown will cut crude demand
AP Business WriterNEW YORK (AP) _ Oil prices plunged in another violent sell-off Friday, briefly tumbling below $78 a barrel as investors grow more pessimistic about the prospects for resolving a mushrooming global economic crisis. A barrel of oil hasn't been this cheap...Tags: Wright Express Corporation, International Energy, Natural Resources, New York Mercantile Exchange, Money and Monetary Policy
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Stocks seesaw but extend devastating decline to 8th straight day and worst week ever
AP Business WriterNEW YORK (AP) _ Wall Street seesawed but still extended its devastating decline Friday as investors, seeing no resolution to the credit crisis, propelled the Dow Jones industrials to their eighth straight day of losses and worst week ever. Stocks...Tags: Bank of America Corp., Money and Monetary Policy, Wachovia Corp., Gold and Precious Material, Government
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Economy has becoming overriding issue in governors' races; some contests tighten
Associated Press WriterIn his bid to become the next governor of Missouri, Rep. Kenny Hulshof survived a bitter primary that at one point saw the candidates bashing each other for supporting public funding for drugs such as Viagra. Then came the catastrophe on Wall Street. Now...Tags: Government, National Government, George Bush, Energy, Dino Rossi
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Oil prices fall below $78 a barrel
Los Angeles Times Staff WriterMirroring declines in stock markets worldwide, New York oil futures fell nearly $9 to dip below $78 a barrel Friday for the first time in 13 months, raising the prospect of $60 oil by year's end. The unrelenting declines in stock values, combined with...Tags: James Williams, International Energy, Natural Resources, New York Mercantile Exchange, The Goldman Sachs Group Incorporated
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Snowballing sell-off on Wall Street spreads worldwide
The Associated PressStock prices careened lower Friday in Asia and Europe and gyrated wildly in the United States, extending a stampede of selling that began on Wall Street a day earlier and deepening a global financial crisis that has defied all efforts to stop it....Tags: General Motors Corp., Central Bank, Money and Monetary Policy, Gordon Brown, Stock Activities
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Oil prices briefly plummet below $80 on fears global slowdown will cut crude demand
AP Business WriterNEW YORK (AP) _ Oil prices briefly plunged below $79 a barrel Friday, dropping to the lowest level in nearly 13 months as investors grow more pessimistic about the prospects for resolving a mushrooming global economic crisis. Light, sweet crude for...Tags: Wright Express Corporation, International Energy, Natural Resources, New York Mercantile Exchange, Money and Monetary Policy
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Big drop in oil imports pushes August trade deficit lower despite surge in imports from China
AP Economics WriterWASHINGTON (AP) _ The U.S. trade deficit edged down slightly in August, reflecting a drop in foreign oil from record levels. But the politically sensitive deficit with China increased as imports from that country hit an all-time high. The Commerce...Tags: Imports, Trade Policy, Energy Saving, Labor Legislation, European Union
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Oil plummets to 1-year low below US$83 in Europe on fear global slowdown will cut crude demand
Associated Press WriterLONDON (AP) _ Oil prices tumbled to a one-year low below US$83 a barrel Friday in European trading as fears mounted that governments around the world would be unable to keep the ongoing financial crisis from causing a severe global economic downturn....Tags: International Energy, Natural Resources, New York Mercantile Exchange, Stock Activities, Stocks
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Gas prices drop under $3.50
john.valenti@newsday.comThe average price for a gallon of gas on Long Island slipped under $3.50 Friday -- the first time in nearly six months. The last time gas was selling for less than $3.50 in Nassau and Suffolk was April 16, according to the AAA Daily Fuel Gauge. Then,...Tags: AAA, Long Island, Automotive Equipment, Sales
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2 expats kidnapped in Ethiopia are brought to Somalia; paraded before local media
Associated Press WriterMOGADISHU, Somalia (AP) _ Two foreign aid workers appealed for their freedom Friday in the Somali capital, surrounded by armed kidnappers who seized them last month in a restive region of Ethiopia, local media reported. Somali journalists were...Tags: Foreign Aid, Kidnapping
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French FM: Russia has only partly met its ceasefire obligations in Georgia
Associated Press WriterTKVIAVI, Georgia (AP) _ Russia has only partially met its obligations in Georgia under an EU-negotiated ceasefire, French Foreign Minister Bernard Kouchner declared Friday as he toured damaged villages and spoke to displaced people in Georgia. He...Tags: Wars and Interventions, Defense, Nicolas Sarkozy, European Union, Dmitry Medvedev
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