Oil futures ended a whipsaw session slightly lower Thursday as the expiration of options played havoc with prices, driving crude near record high levels at times and down by more than $3 a barrel at others. Retail gas prices, meanwhile, advanced past $3.77 a gallon.
Retail gas prices hit record highs for the eighth day in a row, auto group AAA's Web site showed Thursday.
Oil prices were steady Wednesday after moving back from an overnight trading record near $127 a barrel on concerns that Iran may consider cutting oil production.
Retail gas prices hit record highs for the seventh day in a row, auto group AAA's Web site showed Wednesday.
Oil prices fell back Wednesday in Asia after hitting a record near $127 a barrel in the previous session on concerns Iran may consider cutting oil production.
Oil prices are holding steady in Asia after falling back from an overnight trading record near $127 a barrel hit on concerns Iran may consider cutting oil production.
The House of Representatives voted to direct the Bush administration to stop filling the strategic petroleum reserve temporarily in an effort to alleviate increasing gas prices.
Oil prices shot to a new record near $127 a barrel Tuesday on concerns that Iran may consider cutting crude oil production. Gas prices, meanwhile, rose to a new record over $3.73 a gallon Tuesday, and their advance shows little sign of slowing with Memorial Day weekend, the traditional start of the summer driving season, just 10 days away.
Congress, as part of a plan to tame record oil prices, is voting Tuesday on measures aimed at stopping President Bush from continuing to fill the nation's Strategic Petroleum Reserve.
Retail gasoline prices increased for the sixth straight day and hit their fifth consecutive record, auto group AAA's Web site showed Monday.
Oil futures ended a whipsaw session slightly lower Thursday as the expiration of options played havoc with prices, driving crude near record high levels at times and down by more than $3 a barrel at others. Retail gas prices, meanwhile, advanced past $3.77 a gallon.
Retail gas prices hit record highs for the eighth day in a row, auto group AAA's Web site showed Thursday.
Oil prices were steady Wednesday after moving back from an overnight trading record near $127 a barrel on concerns that Iran may consider cutting oil production.
Retail gas prices hit record highs for the seventh day in a row, auto group AAA's Web site showed Wednesday.
Oil prices fell back Wednesday in Asia after hitting a record near $127 a barrel in the previous session on concerns Iran may consider cutting oil production.
Oil prices are holding steady in Asia after falling back from an overnight trading record near $127 a barrel hit on concerns Iran may consider cutting oil production.
The House of Representatives voted to direct the Bush administration to stop filling the strategic petroleum reserve temporarily in an effort to alleviate increasing gas prices.
Oil prices shot to a new record near $127 a barrel Tuesday on concerns that Iran may consider cutting crude oil production. Gas prices, meanwhile, rose to a new record over $3.73 a gallon Tuesday, and their advance shows little sign of slowing with Memorial Day weekend, the traditional start of the summer driving season, just 10 days away.
Congress, as part of a plan to tame record oil prices, is voting Tuesday on measures aimed at stopping President Bush from continuing to fill the nation's Strategic Petroleum Reserve.
Retail gasoline prices increased for the sixth straight day and hit their fifth consecutive record, auto group AAA's Web site showed Monday.
Oil prices retreated Monday in Asia from last week's record close near $126 a barrel as the dollar strengthened against the euro and yen.
Oil prices retreated Monday in Asia from last week's record close near $126 a barrel as the dollar strengthened against the euro and yen.
Retail gasoline prices jumped to yet another record high Sunday, according to drivers' advocacy group AAA's Web site.
Oil leaped into uncharted territory Friday, soaring past the $126-a-barrel mark for the first time, and leaving analysts and investors wondering how high the price will go.
Gas prices are expected to keep up their record rise this spring, soaring well past $4 a gallon in some areas. Now Congress wants to know what to do about it.
Oil rose above $126 a barrel for the first time Friday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports from the OPEC member.
Oil prices hit a new record high above $125 Friday as a weaker U.S. dollar drove investments into commodities.
Gas prices jumped nearly 3 cents overnight to a new national record of nearly $3.65 a gallon Thursday. Oil prices rose slightly to a new settlement record after a day of back-and-forth trading.
Democratic Senators are working to combat rising oil and fuel prices by attacking what many Americans see as the heart of the problem: speculative trading.
Oil prices held steady Thursday in Asia after jumping to a record near $124 a barrel as investors captivated by the market's upward momentum seemed to ignore figures showing an increase in U.S. crude and gasoline supplies.
Senate Democrats on Wednesday called for a temporary windfall profits tax on oil companies and a rollback of $17 billion in oil industry tax breaks as part of an energy package. The proposal also would impose federal penalties on energy price gouging and calls for stopping oil deliveries into the government's emergency reserve.
Oil prices touched another record Wednesday, spiking after an initial decline on a government report that said crude and gasoline supplies were stronger than expected last week.
Retail gasoline prices rebounded after falling for five straight days, auto group AAA's Web site showed Wednesday.
Stocks gained Tuesday as investors looked beyond record-high oil prices and big losses at financial firms and instead continued to bet that the economy is stabilizing and the worst of the credit crisis is over.
Oil futures blasted to a new record near $123 a barrel Tuesday, gaining momentum as investors bought on a forecast of much higher prices and on any news hinting at supply shortages. Retail gas prices edged lower, but appear poised to rise to new records of their own in coming weeks.
The government on Tuesday again raised its short-term price forecasts for crude oil and gasoline -- trends that are expected to tamp down demand.
Rising diesel prices have slammed the trucking industry and hurt independent truck drivers, and Congress is looking for solutions.
Retail gas prices slipped for the fifth day in a row, offering some much-needed relief to pinched consumers.
U.S. stock futures wavered early Tuesday as recent optimism about the economy was offset by record high crude prices.
Oil futures surged to a new record over $120 a barrel Monday, raising concerns about higher prices for gasoline and goods and services throughout the economy
Oil futures have surpassed the once unthinkable price of $120 a barrel Monday as supply threats emerged overseas and the dollar weakened against the euro.
After a two-week climb in gasoline prices, there appeared to be some short-term moderation Monday - but another run at the record high set last week seems likely, two surveys indicated.
Retail gas prices fell slightly Friday - the first time in 18 days they haven't risen to a new record - and analysts say pump prices may be peaking for the year.
Reports released Thursday by top automakers affirmed the continuing shift in vehicle sales: Record-high gasoline prices are prompting more consumers to switch to smaller cars.
Oil prices retreated further Friday from the early-week record near $120 a barrel as a strengthening U.S. dollar prompted investors to exit the market.
Record oil prices netted Exxon Mobil a $10.89 billion profit in the first three months of the year, sharply higher than a year earlier but short of Wall Street estimates and below what was needed to set a new all-time profit record.
Oil prices settled lower Thursday as the dollar strengthened against the euro despite a cut by the U.S. central bank in its key interest rate.
Oil fell sharply Wednesday after the Federal Reserve said it would lower interest rates by 1/4 of a percentage point. Earlier in the day, prices eased following a report that showed supplies of crude increased more than expected last week.
Oil prices hit an all-time high near US$120 a barrel Monday after a weekend refinery strike closed a pipeline system that delivers a third of Britain's North Sea oil to refineries in the U.K.
Oil prices slipped Wednesday, adding to their steep slide of more than $3 a barrel in the previous session on a strengthening U.S. dollar and data showing a dramatic drop in American fuel demand.
Oil prices fell more than $3 a barrel Tuesday as the market absorbed data showing demand is falling even as supplies are rising. Gas prices inched higher at the pump, continuing their record-breaking press toward $4 a gallon.
Crude oil prices and the value of the dollar have been marching in different directions for months. But that may shift if the Federal Reserve signals on Wednesday that its rate-cutting campaign has come to a close.
Oil prices hit an all-time high, near $120 a barrel, Monday after a weekend refinery strike closed a pipeline system that delivers a third of Britain's North Sea oil to refineries in the UK.
If you're a poor sap who needs to eat or drive in the near future, then you might want to consider taking out a second mortgage (assuming you could even get one) pretty soon.
Oil prices rose sharply Friday on news that a ship under contract to the U.S. Defense Department fired warning shots at two boats in the Persian Gulf. Retail gas prices as expected rose further into record territory, nearing $3.60 a gallon.
Oil prices slipped further Friday after falling more than $2 a barrel in the previous session as the U.S. dollar strengthened, prompting investors to book profits.
Gasoline prices shot up to yet another record at the pump Thursday, while some analysts said the sharp price increases of recent days could soon level off although gas will continue to rise. Crude oil prices, meanwhile, fell more than $2 a barrel as the dollar gained strength against the euro.
Oil prices fell Thursday, as the U.S. dollar strengthened and after a U.S. government report showed a build in crude supplies.
There is a good case to be made that the worst of the credit crunch is behind us. And that should be good news for the markets and economy.
Oil prices steadied Wednesday after climbing in the previous session to a record near $120 a barrel on the weakening U.S. dollar and concerns about unstable supply amid firm global demand.
Light, sweet crude for May delivery rose to a new trading record of $119.90 before retreating to settle up $1.89 at a record $119.37 a barrel on the New York Mercantile Exchange. The record run (three straight days of record settlements) was supported by a weak dollar, concerns about crude supplies from some key producers and the end of the May contract.
Gas and oil prices moved further into record high territory Tuesday, with retail gas reaching a national average of $3.51 for the first time
Cabbies here complain their take-home pay is thinner than it used to be. Trucking companies across the country are making drivers slow down to conserve fuel. Filling station owners plead that really, really, the skyrocketing prices aren't their fault.
Crude oil set a new record, spiking after an attack on a Japanese oil tanker in the Middle East to close above $117 a barrel for the first time.
Oil prices spiked to a record $117.40 a barrel after a Japanese oil tanker was attacked in Middle Eastern waters, off the east coast of Yemen.
Oil prices spiked to a record above $117 a barrel Monday in Asia following an attack on a key pipeline in Nigeria at the end of last week.
Crude oil futures surged to a new trading record of $117 a barrel on Friday following an attack on a key pipeline in Nigeria. The rally capped a week of record highs fueled by supply woes and the dollar's weakness relative to other major currencies. Gasoline futures also reached new record highs.
Retail gas prices pushed past a record high $3.40 a gallon Thursday, fulfilling expectations that they'll keep climbing toward $4 as the summer driving season approaches.
Oil prices settled at a record high for the third day in a row on Wednesday. Prices spiked to a record $115.07 a barrel in midday trading, after a government report showed an unexpected crude supply drop.
Oil prices surged Wednesday to a record high as the weakening U.S. dollar drove investors to dump money into commodities.
Crude oil prices surged Tuesday settling at a new record high above $113 a barrel as the U.S. dollar weakened further against the euro.
The average prices of gasoline and diesel fuel have reached new record highs, a AAA survey showed Tuesday.
The average price of diesel fuel, a vital component of transport costs, reached a new record high, a survey by AAA showed Monday.
They may not agree on the causes of the problem, but oil companies and OPEC agree that prices won't come down for the foreseeable future
The average price of regular gasoline jumped nearly a penny to a new record high, a survey by AAA showed Friday.
The average price of regular gasoline jumped more than a penny to a new record high, a AAA survey showed Thursday.
The average price of regular gasoline hit another record high overnight, a AAA survey showed Friday.
Stocks were poised for a slightly lower open Thursday, but trading could be volatile as investors wait for more comments from Federal Reserve Chairman Ben Bernanke, news of a possible Senate deal to provide help to homeowners facing problems with their mortgages and Friday's jobs report.
Gasoline prices rose overnight to set another record high, a AAA survey showed Thursday.
Oil prices seesawed Wednesday after a government report showed a larger-than-expected increase in crude supplies and a sharp drop in gasoline supplies.
Average gasoline prices around the country fell slightly, a key survey conducted for the motorist advocacy group AAA showed Tuesday.
Under the backdrop of record gas prices and record profits, Congress is set to grill executives Tuesday from the world's five biggest publicly traded oil companies.
Gas prices surged nearly 7 cents over the past two weeks to reach an all-time inflation-adjusted high of $3.26 per gallon of self-serve regular, a national survey said Sunday.
Gas prices surged nearly 7 cents over the past two weeks to reach an all-time inflation-adjusted high of $3.26 per gallon of self-serve regular, a national survey said Sunday.
Oil prices experienced the sharpest plunge in 17 years Wednesday, driven down by weakening demand and a stronger dollar.
Oil prices experienced the sharpest plunge in 17 years on Wednesday, driven down by weakening demand and a stronger dollar.
Americans are finally driving less - thanks to rising gas prices.
Gasoline has hit record levels - and experts say it will likely continue to soar in tandem with the skyrocketing price of crude.
Oil prices rebounded to another record high Wednesday afternoon after initially plummeting when a government report said supplies of crude and gasoline had risen much more than expected.
Five months ago many economists said high oil prices wouldn't hurt the economy - now they're choking on their words.
Oil prices neared $105 a barrel Wednesday for the first time ever after a government report showed a surprise dip in crude supplies and OPEC announced its decision to not increase production.
Oil reached a historic high near $104 a barrel Monday, surpassing the inflation-adjusted level of the 1980s, as a weakening dollar made crude futures attractive to investors.
Rising gas prices are hitting CNN.com readers in the wallet, and many say they are staying in and scaling back spending to try to keep up.
After setting a new intraday high above $102 a barrel, oil prices turned lower Wednesday following a big rise in inventories and concerns over the nation's economic health.
Rising oil and gas prices are putting the squeeze on everyone's budget. Here are top tips on how to save money on energy.
There was a time when oil prices needed the backing of a strong U.S. economy to reach record levels, but oil prices hit all-time highs again Wednesday even as a recession looms.
Oil prices struggled for direction Wednesday after the government said supplies of crude and gasoline rose far less than expected last week.
Despite widespread public perception that speculative investing is to blame for high oil prices, big investors distanced themselves from it Tuesday, saying the recent run up has more to do with strong demand, tight supply, and a desire to diversify instead of trading momentum.
Oil prices fell Wednesday after the government said supplies of crude rose more than expected last week and on worries about a looming economic recession.
Exxon Mobil made history on Friday by reporting the highest quarterly and annual profits ever for a U.S. company, boosted in large part by soaring crude prices.
Exxon Mobil, the world's largest publicly traded oil company, is within striking distance of setting an all-time profit record - again.
High oil prices are a drag on the economy, but OPEC isn't likely to raise production at its special meeting next week. But experts say the cartel is on track to meet worldwide demand - and keep prices from rising further - in the long run.
Contrary to popular belief, Americans facing a looming recession should expect little relief in the form of lower gas prices, experts say.
Oil futures dropped sharply Tuesday on mounting concerns that the U.S. economy may be heading toward a recession that would dampen demand for crude
It's not too late for investors to get in on the oil boom in 2008, analysts say, even with the near 30 percent runup in oil company stocks last year.
U.S. stock futures advanced early Tuesday after a lackluster session, although ongoing fears about a recession and a rise in crude prices could crimp any opening gains.
Oil prices, after taking an initial dip on a weekly government report on inventory levels, crossed the $100 threshold Thursday and continued a six-year, five-fold spike driven by surging demand and limited supply.
The rising price of oil is starting to bite - at the pump, the airline ticket counter and possibly in your home.
Greed is driving oil prices to $100 a barrel.
Oil prices hit $100 a barrel Wednesday for the first time ever, amid an unshakeable view that global demand for oil and petroleum products will continue to outstrip supplies
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