(Reuters) – U.S. stock indexes fluctuated on Thursday as equities tracked oil prices. Oil pared earlier gains but remained steady after jumping 7 percent on Wednesday as the dollar weakened after weak U.S. data and comments from a Fed policymaker signaled that further rate hikes could be delayed. The dollar index <.DXY> which measures the […]
Imagine your family’s biggest source of income plummeting by 80 percent in one year. At today’s oil prices, that’s Alaska’s situation. The state’s oil and gas production tax is expected to bring the state $524 million in the current fiscal year, a shocking drop from the $2.6 billion collected last year. But that’s only part […]
Wow, I had barely recommended repealing the laws that restrict U.S. oil exports as part of an overall ramping up of competition in global oil markets when news hit that the Saudis were cutting the price of oil shipped to the U.S. The price of oil has been zigzagging downward since then—much to the benefit […]
The global oil benchmark, Brent crude, fell Thursday to about $79.8 per barrel before rebounding to finish the day at around $82.7 per barrel, the lowest price since mid-2012. The latest sell-off follows one of the sharpest declines in a quarter in recent years, in which the price of oil slid about 16 percent. It may be […]