Crude oil prices dropped in New York and held steady in London after the US Energy Information Administration reported that crude oil stockpiles in the United States grew unexpectedly last week. April contracts for West Texas Intermediate crude fell $3.38 to $42.33 per barrel by the close of floor t...

The price of crude oil was lower Tuesday, but only after morning gains, on a new report issued by the US Energy Information Administration cut its earlier forecast of how much demand there will be globally for oil this year. The EIA said that the price of oil will average $42 per barrel this year an...

The price of crude oil was higher in New York on Monday as investors bet that the Organization of Petroleum Exporting Companies will cut production quotas when it meets this weekend in Vienna as a number of officials from OPEC nations made comments indicating that the cartel wants prices to rise. In...

Crude oil prices were up in New York trade on Friday despite more bad economic news, including a Labor Department report that the US economy lost 651,000 more jobs in February. Prices, which have gone up since it was reported that US inventories lost 700,000 barrels of crude last week, were helped b...

Oil prices fell Thursday after Wednesday’s gains on a report from the US Energy Information Administration that showed that crude oil inventories fell slightly last week. April contracts for West Texas Intermediate Crude was down $1.77 to $43.61 per barrel on the New York Mercantile Exchange w...

Crude oil prices ended higher in New York Tuesday on a day when prices bounced around a bit on more bad economic news. Ford Motor (NYSE: F) said that its US sales were down 48 percent in February despite attractive offers to lure buyers into showrooms, while the National Association of Realtors said...

Crude oil was 10 percent lower on the session in New York Monday as the Dow Jones Industrial Average dropped under the 7,000 level for the first time since 1997 amid a significant retreat in global equities markets. There were mixed messages as to whether or not the Organization of Petroleum Exporti...

Crude oil prices declined Friday after recent gains as bad economic news for the US hinted that the recession is getting worse and so demand’s slight recovery recently might not continue for long as consumers continue to cut back on spending New data showed that consumer spending in the US last qu...

Crude oil prices jumped again Thursday on indications that production cuts from the Organization of Petroleum Exporting Countries are beginning to affect the US market, and on the possibility that OPEC could further cut production when it meets in March. There has been talk that OPEC could cut produ...

The price of crude oil was higher Wednesday after the US Energy Information Administration reported in it’s weekly inventories report that US stockpiles of crude were up less than had been expected after the previous week’s declines. April contracts for West Texas Intermediate crude added $2.54 ...