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  • OPEC Says Has Done Enough to Cool Record Oil Price Tuesday, 16 Oct 2007 | 8:39 AM ET

    OPEC has done its utmost to satisfy the world's demand for fuel and pumping even more crude will do little to halt oil's rally towards $88 a barrel, officials said on Tuesday.

  • OPEC Raises Forecast, Optimistic About U.S. Monday, 15 Oct 2007 | 8:37 AM ET

    OPEC on Monday raised its forecast for demand for its oil this winter and said it appeared more likely that top consumer the United States would avoid a steep economic slowdown.

  • No Need for OPEC to Boost Oil Output: Qatar Monday, 1 Oct 2007 | 9:18 AM ET

    More crude supply from OPEC would do little to ease $80 oil as speculative investment flowing into the market from other assets is boosting the price, Qatar's oil minister said on Monday.

  • Oil Closes Up at $82.88 on Supply Fears, Fund Action Thursday, 27 Sep 2007 | 4:11 PM ET
    Oil Pipeline in Germany

    Oil rose sharply to $83 per barrel on Thursday, as a weak dollar and supply worries ahead of the winter heating season encouraged buying by financial investors

  • Oil Closes Above $80 on New Storm Fear Wednesday, 26 Sep 2007 | 4:10 PM ET
    Oil Refinery in California

    Oil prices, which briefly dropped below $79 per barrel on Wednesday, jumped back up late in the afternoon to close over $80, as traders weighed a U.S. government report showing a surprise increase in the nation's crude inventories against concerns that a new storm could be brewing in the Gulf of Mexico, threatening production.

  • Oil Closes Below $80 on U.S. Gulf Output Resurgence Tuesday, 25 Sep 2007 | 4:24 PM ET
    Oil Refinery in California

    Oil dropped below $80 per barrel Tuesday, as more U.S. production in the Gulf of Mexico came back online after being shut by foul weather last week.

  • Oil Closes Below $81; Traders Ponder Peak Monday, 24 Sep 2007 | 3:55 PM ET
    Oil Refinery in California

    Energy futures fell Monday after a tropical depression that moved through the Gulf of Mexico late last week turned out to be a dud. But investors also tried to determine if oil futures' recent record-setting run above $80 per barrel had run its course.

  • Oil Slips Below $82 But Gas Prices Are Set To Rise Friday, 21 Sep 2007 | 4:23 PM ET

    Oil prices fell Friday as investors sold to lock in profits, but analysts doubt oil's record-breaking run is over and say gasoline prices are about to start following oil higher.

  • Oil Closes Above $83 on Weak Dollar, Storm Fears Thursday, 20 Sep 2007 | 5:56 PM ET
    Oil Pipeline

    Oil closed over $83 per barrel in the seventh straight record-breaking session, as companies shut Gulf of Mexico output on forecasts a tropical depression would become a storm.

  • Oil Hits New High Over $82 On Supply Fears Wednesday, 19 Sep 2007 | 4:25 PM ET
    Oil Refinery

    Oil struck a new record over $82 Wednesday as falling U.S. inventories and the threat of a storm gathering near Florida renewed supply concerns in the world's biggest energy consumer.

  • Oil Hits Record Highs as Fed Cuts Interest Rates Tuesday, 18 Sep 2007 | 3:47 PM ET
    Oil Refinery

    Oil futures rose to new records Tuesday after the Federal Reserve cut interest rates by a larger-than-expected half percentage point, raising market hopes that economic growth will accelerate and lift demand even as crude oil and gasoline inventories are tight.

  • OPEC Would Discuss Output Hike if $80 Oil Lasts Tuesday, 18 Sep 2007 | 5:38 AM ET
    Oil Refinery

    OPEC would likely hold consultations about boosting supply again if the price of oil stayed above $80 a barrel for more than 15-20 days, an OPEC source said on Tuesday.

  • Goldman Sachs Forecasts Crude to Hit $85 By Year-End Monday, 17 Sep 2007 | 4:08 PM ET
    Oil Pipeline

    Goldman Sachs on Monday forecast U.S. oil prices will surge to $85 by the end of the year, and said crude could climb as high as $90 due to tight supplies.

  • Oil Closes at Record $80.57 on Supply Worries Monday, 17 Sep 2007 | 3:20 PM ET
    Oil Refinery

    Oil closed at a record $80.57 on Monday on worries that global energy supplies could shrink to critical levels this winter heating season due to strong demand growth.

  • Oil Closes Down as U.S. Storm Fades Friday, 14 Sep 2007 | 4:05 PM ET
    Oil Refinery

    Oil eased from its record high on Friday as a hurricane subsided in the Gulf of Mexico and as fresh evidence of credit troubles in the banking sector hit financial markets.

  • Getting Down to Earth Amidst Soaring Oil Prices Friday, 14 Sep 2007 | 5:48 AM ET

    It’s been a busy week for us in the news industry.  Japan’s prime minister resigned and was promptly hospitalized; several big earthquakes hit Indonesia; Hurricane Humberto came out of nowhere, hitting the Texas-Louisiana coast with 85-mph winds; and the news highlighter for my little Commodity Store this week – crude oil prices hitting a record peak, crossing the $80 threshold to settle at $80.20 a barrel in New York on Thursday. 

  • GM Helps Drive Stocks Higher Thursday, 13 Sep 2007 | 9:46 AM ET

    Stock prices are shifting into high gear as a GM upgrade and a dividend boost from McDonald's helps sentiment. The dollar is firming slightly and oil trades near record levels. Europe's stock markets turned higher after early losses, and Asian markets were mostly higher overnight.

  • OPEC Daily Basket Price Reaches New Historic High Thursday, 13 Sep 2007 | 7:18 AM ET

    The price of the OPEC basket of twelve crudes reached a new record Wednesday, hitting $74.21 a barrel, compared with $73.13 on Tuesday, OPEC said today in a statement.

  • Stocks Face Pressure, Oil Higher And Dollar Lower Wednesday, 12 Sep 2007 | 6:46 PM ET

    Stocks are under pressure ahead of the opening as the dollar touches new lows, oil edges higher and Texas Instruments earning forecast disappoints. For now, stock futures are lower and European markets are mixed.

  • Oil Irony: Prices Rise Even As OPEC Opens Taps Tuesday, 11 Sep 2007 | 4:57 PM ET

    In an ironic twist, oil prices rode to a record high on the same day OPEC agreed to open its taps. Earlier today, the Organization of Petroleum Exporting Countries said it would boost production by 500,000 barrels a day, a move forced on the cartel by worries about the possibility of a housing-induced U.S. economic slowdown.

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