Science
Oil Drops Below $100 A Barrel
Crude oil prices plunged 5.4 percent yesterday, falling below $100 a barrel for first time since Feb. 15 as traders and investors worried about lower oil demand from a weakened economy and the prospect that troubled financial firms would curtail oil trading or liquidate positions.
Ike Roars Through Gulf Coast
HOUSTON, Sept. 13 -- Texas and Louisiana on Saturday began a massive recovery effort, including searching for the stranded and missing, after Hurricane Ike, a colossal storm stretching about 600 miles, pulverized the Gulf Coast. Winds reached about 100 mph as the storm flattened houses, ripped the...
Oil's Dramatic Price Retreat Ripples Around the World
Just two months ago, spiking petroleum prices were emboldening confrontational oil exporters such as Venezuela, Russia and Iran, fueling inflation anxiety at the Federal Reserve, raising expectations at American biofuel producers, and crimping the budgets of airlines and ordinary households alike.
Markets, Liquidity Concerns Roil Industry
Market turbulence continued to ripple through the energy industry yesterday.
OPEC to Pare Back Production by Enforcing Its Own Quotas
Faced with slumping energy demand from weakening industrialized economies, OPEC oil ministers said last night that petroleum markets are "oversupplied" and vowed to stick to self-imposed quotas that could carve 520,000 barrels a day out of world production.