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Oil Prices Surge USD 112 per barrel as Dollar Jitters from Major Oil Suppliers

Prices oil surged above $112 per barrel Friday following a drop in the dollar and continued jitters about shipments from the world’s major oil suppliers. Benchmark West Texas Intermediate crude oil for May delivery jumped $2.49, or 2.3 percent, to settle at $112.79 per barrel on the New York Mercantile Exchange. Crude oil set new [...]

Friday, April 8th, 2011

Libya Unrest, BP stop Exploration more Oil Companies and Industry Fallout

Oil companies, including Italy’s Eni, Royal Dutch Shell PLC, U.K.-based BP and Germany’s Wintershall, a subsidiary of BASF, were evacuating their expat workers or their families or both. BP and Wintershall said they were temporarily suspending operations; Eni said production continued normally. Libya is one of the world’s biggest oil producers and has the largest [...]

Monday, February 21st, 2011

New Oil Drilling Technique in Western US Investing Across Company by 2015

New oil drilling technique is opening up vast fields of previously out-of-reach oil in the western United States, helping reverse a two-decade decline in domestic production of crude. Companies are investing billions of dollars to get at oil deposits scattered across North Dakota, Colorado, Texas and California. By 2015, oil executives and analysts say, the [...]

Friday, February 11th, 2011
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