OPEC said it will leave its official production ceiling unchanged, dashing hopes for an official increase that could have sent crude prices lower.
So much for gold being a safe investment in times of market volatility.
BP Capital Management chairman T. Boone Pickens says it's not appropriate to place blame on one person for gas prices.
The average price for a gallon of regular U.S. gasoline slipped almost 7 cents over the past two weeks, chasing a drop in crude oil prices, according to a nationwide survey published Sunday.
The president outlines his plan for protecting the oil market from speculators and manipulators.
This week, President Obama announced policy measures to enhance the surveillance of oil futures markets. The president stressed that the new measures would not bring down gasoline prices overnight, but implied that they would lower gas prices in the long run because more oversight would deter market manipulation.
Under pressure to bring down the high price of gas, President Obama and Attorney General Eric Holder will outline a proposal Tuesday to increase federal supervision of the oil markets in an effort to clip the wings of speculators who are profiting off the volatility of the oil market.
Sen. Mitch McConnell (R) Minority Leader on why gas prices are so high, the 2012 elections and Obama's policies.
U.S. gas prices showed their smallest increase since early January -- and may be nearing or past their peak if the price of crude oil holds steady, according to a national survey published Sunday.
U.S. gas prices jumped more than 11 cents per gallon over the past two weeks, but may be peaking as the price of crude oil holds steady, according to the latest Lundberg Survey.
CNN's Richard Quest talks to Stephen King, Chief Economist at HSBC, about the future of the oil market and Greece.
Saudi Arabia is taking steps to cool the overheating global energy market, boosting its exports to the US and re-opening old oilfields to expand production, as the world's largest oil producer tries to prevent damage to the global economic recovery.
CNN's Eunice Yoon reports on how China's demand for oil is boosting global prices.
Oil prices spiked to their highest levels since 2008 on fears that tensions with Iran have the potential to disrupt supplies through the Strait of Hormuz.
A combination of trouble with Iran, a recovering global economy, investor interest and a potential problem at refineries are all responsible for the recent spike in gasoline prices, experts say.
Gas prices approaching $4 a gallon on average are causing severe economic pain for millions of Americans. Pump prices spiked 5% in the past month alone. Crude oil prices stood at $108 on Friday, up from only double digits at the beginning of the month.
Wall Street is pushing to stop a new rule that would crack down on speculation in the energy markets, which many blame for contributing to the spike in gas prices.
Prices for Brent crude oil rose to their highest level since April 2011 Wednesday on fears that Iran might halt shipments of oil to Europe.
I invested in a gold ETF over the past three months and have suffered losses. Should I hold my positions and hope for better days ahead? Or should I cut my losses now? -- S.B.
Despite the uptick in oil prices thanks to Iran's threats last week, experts don't foresee a major oil price spike even as evidence mounts that tougher oil sanctions against the country are beginning to bite.
The head of OPEC said Wednesday that speculators are at least partly to blame for high oil prices -- not any lack of supply on world markets.
A perpetual deadlock in Congress has resulted in eight extensions of the national transportation bill, causing roads to crumble, bridges to fall, and transit to break down.
Commodity prices across the board moved higher Wednesday, with oil prices topping $100 per barrel for the second time in almost six months. And experts said this time they could actually keep climbing.
Even near record high prices, gold hasn't lost its luster ... especially in Europe.
Oil market speculation will cost U.S. households more than ever in 2011, a consumer group predicts, and the drain on household incomes will increase unless government rules to curb it are imposed.
Gold officially lost its status as a safe haven last Friday, when the precious metal inked its sharpest drop since 1980.
European central banks have become net buyers of gold for the first time in more than two decades, the latest sign of how the turbulence in the currency and debt markets has revolutionised the bullion market.
U.S. gas prices have edged up 6 cents over the past two weeks, but don't fret that a steady climb is on the horizon, the publisher of a new survey said Sunday.
Gold prices have been on a tear lately, topping a fresh record high above $1,900 an ounce early Tuesday-- just two weeks after rising above $1,800.
Brent crude oil prices are easing but don't expect that to to translate into sharply lower U.S. gas prices anytime soon.
Yvette Shirey left a jewelry store near her home in Columbia, Md. Wednesday afternoon $1,000 richer.
Gold prices broke a new record Monday, topping $1,600 an ounce, driven by concerns over mounting debt in the United States and Europe.
Oil prices jumped Thursday, inching closer to $100 a barrel on signs of stronger economic growth and a bullish outlook on commodities from two big investment banks.
Oil prices have surged in the last few days and are now less than a dollar from where they were when President Obama made the controversial decision to tap the nation's strategic reserve last Thursday.
Four reasons are emerging for President Obama's surprise decision Thursday to release 30 million barrels of oil from the nation's strategic reserve -- economic stimulus; a looming supply shortage; a wake up call to OPEC; and a warning shot to speculators in the oil market.
Boosting the nation's oil supply could lower gas prices as much as 50 cents a gallon, but relief at the pump is still weeks away.
Saudi Arabian Prince Alwaleed bin Talal explains why his country wants oil prices to stay below $100.
Federal regulators charged five oil speculators Tuesday with manipulating the price of crude and making a $50 million profit from the scheme.
Billionaire hedge fund manager George Soros sold nearly $800 million of gold during the first quarter, as the precious metal surged to record highs.
The recent surge in gas prices showed some signs of cracking Friday, but economists say consumers shouldn't get their hopes up yet.
Gasoline prices have been rising for months and are within striking distance of their 2008 all-time high of $4.11 a gallon. But while oil prices are above $100 a barrel, they're still 24% below their 2008 all-time high.
In an attempt to deflect rising anger among American drivers and political leaders, Exxon Mobil said Thursday that it makes relatively little money on gasoline, even as it reported a nearly $11 billion quarterly profit.
Gold prices topped a record $1,500 for the first time ever on Tuesday, shattering an important psychological barrier as investors seek out investments thought to be safe during times of upheaval.
The quarterly celebration known as earnings season gets underway this week, and investors are eager to see how a resurgent Corporate America is coping with rising energy and commodity prices.
The quarterly celebration known as earnings season gets underway next week, and investors are eager to see how a resurgent Corporate America is coping with rising energy and commodity prices.
Just as major airlines have started getting their balance sheets back in order, they're bracing for the impact of skyrocketing oil prices.
Gold prices have hit a series of record highs this week, as a combination of inflation worries, a weaker U.S. dollar and geopolitical turmoil have weighed on investor confidence.
Crude oil prices moved above $106 a barrel again Thursday before retreating, as a confluence of war, natural disasters and Japan's nuclear problems unnerved investors.
Oil prices moved higher Tuesday as investors focused their attention on the conflict in Libya and escalating tensions in Yemen.
Oil prices had been on a tear before Friday. But then the earthquake and tsunami slammed Japan, throwing the oil industry's bullish momentum for a loop.
Oil prices ended little changed Monday, recovering from earlier losses, as investors grappled with the potential fallout from the Japan earthquake and ongoing political unrest in the Middle East.
In the grasslands of western North Dakota, one of the country's richest oil men is using a controversial gas drilling technology to develop what could be the biggest domestic oil discovery in the last 40 years.
Oil prices dug in around the $104-a-barrel level Wednesday as investors remained focused on geopolitical concerns.
Oil prices eased Tuesday following reports that key producers are discussing the possibility of increasing output.
U.S. stocks were set for a mixed open Tuesday, following a broad retreat in the previous session, as oil prices eased.
Gold prices rose to a record high Monday as the political turmoil in Libya boosted demand for tangible "safe-haven" assets such as precious metals.
U.S. markets fell sharply Friday as oil prices jumped to more than $104 a barrel. Still, stocks managed to eke out gains for the week.
Gas prices continue to rise for the eighth day in a row, as the effect of high oil prices trickles down to the pump.
Gold prices settled at a new record high on Tuesday, as unrest in North Africa and the Middle East pushed the safe-haven commodity north of $1,430.
Oil prices climbed Tuesday as the volatile situation in Libya continued to fuel worries about wider unrest across the Middle East.
Fresh off a 27-cent jump last month, gas prices were up slightly in a daily survey by motorist group AAA, as the price of crude oil backed off recent highs.
Gas prices have increased 17 cents a gallon in the past week. And analysts expect prices to continue higher, following a sharp rise in the price of crude oil.
U.S. stocks closed solidly higher on Friday, but fears about Libya and the oil markets translated into the worst week for stocks since November.
Oil prices have had a wild ride this week, surging more than 9% since last Friday as investors reacted to the changing political dynamic across North Africa and the Middle East.
Gas prices jumped 6 cents overnight, as the recent spike in oil prices begins to hit filling stations across America.
Oil prices took a slight step back Thursday, but crude has seen a large runup this week as the political upheaval in Libya curtails production from the North African country.
Gas prices are up nearly 6 cents this week and analysts say this is just the beginning, as oil prices soar on political strife in North Africa and the Middle East.
Markets around the world are wondering if oil-rich Saudi Arabia is serious about boosting its production to calm surging prices in the wake of continued upheaval in Libya.
U.S. oil prices remain relatively low compared to the rest of the world, but that doesn't mean American motorists are getting a break at the gas station.
Crude oil prices spiked Friday as anti-government protests in Egypt sparked concerns over regional stability.
U.S. gasoline prices rose slightly in the past two weeks as a glut of gasoline offset a small increase in crude oil prices, according to a national survey out Sunday.
John Hofmeister, former president of Shell Oil, predicts we'll be paying $5 a gallon by 2012 because of global demand.
Drivers may be bracing for more pain at the pump in 2011 as gas prices continue to head higher.
Everywhere you turn people are raving about the big price jumps in silver and gold this year. It makes you wonder if commodities traders have watched "Rudolph the Red-Nosed Reindeer" one too many times.
The high-flying commodities markets hit a patch of rough air this week, but analysts expect strong demand from developing countries will continue to support prices into next year.
If we have learned anything from the failed energy policies of every president since Richard Nixon, it is this: Reducing America's heavy oil import dependence is easier said than done. However, if America truly wants to return to its full potential economic growth rate, we must significantly reduce that oil import dependence.
In case you haven't heard, gold has been on a record-breaking run recently. Want to get in on the action? Try an ETF.
Gold prices continued to push higher Tuesday, reaching another record high, amid ongoing concerns about the economy.
Gold prices climbed to yet another record Friday, continuing a week-long rally fueled by uncertainty over the global economy.
Gold surged to a new record high Tuesday, as uncertainties about the global economy sent some investors flocking to the save-haven precious metal.
Congress is expected to finally pass the massive Wall Street reform bill later this week. And the lobbyists have already moved on to their next line of attack: The regulators who will issue the hundreds of new rules called for in the legislation.
Oil prices continued to slide Wednesday, and posted the first quarterly decline since the fourth quarter of 2008, after a weaker-than-expected report on crude inventories.
Oil prices spiked more than 3% Friday, as investors worried that storm in the Caribbean could intensify and enter into the Gulf of Mexico over the weekend and ultimately disturb oil production.
The price of gold surged to an all-time high for the second straight day Friday as economic anxiety continued to fuel a rally for the precious metal.
Gold prices hit a record high settlement Thursday, driven by continued anxiety over the economy.
Gold prices climbed to a new record high Tuesday as Europe's debt troubles sparked demand for perceived safe havens, like the precious metal, and investors hedged against inflation.
Oil prices dropped Monday in tandem with global stock markets, extending deep losses sustained late last week.
As economic fears drive gold prices to new highs, the creator of a gold-dispensing ATM is attracting attention around the globe.
After surging 4% the day before, oil prices climbed again Thursday after Chinese officials denied reports that they're reconsidering the country's holdings in European bonds.
When gold prices turn skyward, like they did for the past two weeks before some recent flattening, some mix of greed, fear and uncertainty are likely ruling the market. What better time to remember what really drives prices over the long-term: market fundamentals. Through that lens, gold might not be such a hot investment.
It was only a few weeks ago that the price of oil was above $85 a barrel and people were starting to worry about crude hitting $90 before long as oil gushed into the Gulf of Mexico.
Crude prices fell to a three-month low in electronic trading Friday amid a stronger dollar, higher supply and an approaching expiration for the June futures contract.
Gold prices retreated from a record high Thursday as investors took a slightly less pessimistic view of the European economy.
Oil prices slipped Wednesday after a weekly supply report from the government's energy agency showed an increase in oil stockpiles.
Oil prices churned Tuesday as investors teetered between skepticism and optimism over Europe's rescue package.
Oil prices fell for the fourth straight day, following U.S. stocks, as investors remained bearish about Europe's prospects.
Oil prices fell sharply Thursday, a day after sinking to their lowest levels in over six weeks, as the U.S. dollar continued to strengthen and stocks plummeted, amid the fallout from Greece's debt crisis.
Oil prices jumped Friday for the third straight day as optimism about the economic recovery and a weaker dollar boosted the appeal of crude.
The U.S. Commodity Futures Trading Commission says it has levied a multimillion-dollar fine against a division of Morgan Stanley and a smaller fine against UBS for violating trading rules on the New York Mercantile Exchange.
Oil prices rose for the second straight day Thursday, after upbeat jobs data and the dollar weakened against the euro, boosting the attractiveness of crude.
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