America's LargestPosts Tagged Iran
Oil Prices Climb on Refinery Strike in France
As of 8:53 am EST, the price of crude had risen by 0.1 percent to reach $79.90 a barrel and the price of heating oil had increased by 0.3 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Up $0.02
Morning projection (for Tuesday’s average price per gallon): Up $0.02
Workers at Total’s French refineries [...]
Oil Prices Rise on Winter Storm, Weak Dollar
As of 9:03 am EST, the price of crude had climbed by .68 percent to reach $73.86 a barrel and the price of heating oil had risen by 1.60 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: No Change
Morning projection (for Tuesday’s average price per gallon): Up $0.03
A severe winter storm hit [...]
Oil Prices Rise on Report that Iranian Military Occupied Iraqi Oilfield
As of 9:13 am EST, the price of crude had climbed by 2.30 percent to reach $74.32 a barrel and the price of heating oil had risen by 1.32 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.01
Morning projection (for Monday’s average price per gallon): Up $0.03
Tensions in the Middle East [...]
Natural Gas Condensate Will Provide Major Boost to OPEC Oil Production
The National reported yesterday that OPEC countries are expected to add 2 million barrels per day (bpd) of liquids production capacity by the end of next year through projects to expand natural gas output. “Condensate,” as the article refers to liquids present in natural gas wells, “is almost identical to premium quality light crude oil, [...]
Read More »China’s Quest to Dominate 21st Century Oil Supplies
China, through its national oil companies, has recently invested at least $40 billion in oil ventures in over twenty countries, the Journal of Energy Security reported earlier this month. It’s bought large interests in oil fields in Nigeria, Sudan, and Kazakhstan; built pipelines in Myanmar, Sudan, and Kazakhstan; built refineries at home and abroad; bought [...]
Read More »Iran Protests and Political Turmoil do not Bode Well for Oil Industry
A bad economy often fuels political unrest and leads to a change in government—sometimes peaceful, as in our 2008 elections, sometimes not.
But the causation can work the other way, too—political strife and the uncertainty it brings can hurt the economy, by shuttering shops, chasing off tourists, and scaring away needed investment and strategic partnerships. That [...]
Oil Prices Plunge on Grim Economic Outlook
The price of crude fell 3.8 percent to close at $66.93 a barrel and the price of heating oil lost 3.3 percent.
HEAT USA Price Report
Evening projection (for Tuesday’s average retail heating oil price per gallon): DOWN $0.06
Oil prices fell sharply today, bringing crude to its lowest closing price in two weeks. The optimism that had [...]
Gasoline Sell-Off Pulls Down Oil Prices
The price for a barrel of crude fell 2.3 percent to close at $69.71 and the price of heating oil dropped by 2.4 percent.
HEAT USA Price Report
Evening projection (for Monday’s average retail heating oil price per gallon): DOWN $0.04
Gasoline futures prices fell by almost seven percent today, as traders unloaded gas contracts following a major [...]
Iran’s Political Unrest and Oil Prices
Reuters reported this week that the election protests in Iran, the world’s fifth biggest oil exporter, have so far had little impact on global supply or prices. Markets would likely react, however, said the report, if unrest escalated and spread to the oilfields or export terminals in the country’s south, where most of the oil [...]
Read More »Strong Dollar, Economic Concerns Hold Down Oil Prices
The price of crude lost 2 percent today to close at $70.62 a barrel and the price of heating oil fell by 1.2 percent.
HEAT USA Price Report
Evening projection (for Tuesday’s average retail heating oil price per gallon): DOWN $0.02
A rising dollar and concerns that oil prices might be overinflated to the point of hindering economic [...]
Heating Oil Dealer Vows to End His Company’s Dependence on Unfriendly Oil
Our soil, our oil—that’s the slogan of a Northeast heating oil dealer who has stopped selling foreign oil. As of May 31st, the company’s 25,000 customers only receive home heating oil produced in North America, the news site lancasteronline reported. The same pledge applies to the other fuels they also sell—diesel and biodiesel immediately, [...]
Read More »Collision of Two US Navy Vessels in Straight of Hormuz Causes Brief Spike in Oil Prices
A US submarine and US amphibious ship collided in the Straight of Hormuz, between Iran and the Arabian Peninsula today, sending oil the price of crude on a short rally before it returned to its downward track.
News of the incident reached the US in the late morning, causing the price of crude to jump $0.39 [...]
Oil prices Down on Renewed Economic Concerns, Iran OPEC Comments
Oil prices are sinking fast today, erasing much of the gains made last week. The price for a barrel of crude was down 8.5 percent to $40.97 as of 10:17 am eastern time. The price of heating had fell along a similar path, losing 7.1 percent by 10:17.
The price slumps came in response to declining [...]
Israel Reminds that Geopolitical Events Are Biggest Factors in Determining Oil Prices
Until the fall of 2008, voters and political pundits seemed to agree that the deciding issue in the upcoming presidential election would be the war in Iraq. Many cited Barack Obama’s firm anti-war stance as an important factor in his victory in the Democratic primaries and caucuses. By election day, however, the Iraq war as [...]
Read More »Low Oil Prices Could Provide U.S. Diplomatic Leverage Over Iran
An October 29th HEAT Zone post discussed how the collapse of oil prices have had a disproportionately negative effect on oil-dependent, anti-U.S. regimes Iran, Russia, and Venezuela.
Since then, the price of oil has fallen farther (from $66.54 to $45.54 a barrel) and America has chosen a new president. An Associated Press article published today revisited [...]
Falling Oil Prices Sap Power of Anti-US Regimes
Image: Claudio Munoz/The Economist
While rapidly-declining oil prices are bad news for the world economy, we often note here at the Zone that the upside of cheaper oil around the world is cheaper heating oil and gasoline here at home. There is another upside–a factor that affects international relations rather than Americans’ pocket books.
Three anti-US nations [...]
International Non-Incident Causes Jump in Oil Prices
A Falcon Business Jet, the same model forced to land by the Iranian Air force Tuesday, shown here in a file photo. Photo: CNN.com
An inaccurate news report of an alleged international incident between Iran and the United States caused a sizable jump in crude oil prices this morning. The state-run Iranian news agency Fars [...]
