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Oil prices rise to highest they’ve been in over two months. Investors are gearing up & preparing for more OPEC production cuts. Oil has been ready for a recovery, and historically it’s hard to find a 30-day window kinder to the market than about March 15 through April 15.
Benchmark crude for April delivery gained [...]
The pestimistic investors persisted to outweigh the news of OPEC’s largest-ever production cut as oil prices continued to hover near 4 year lows.
Light, sweet crude for January delivery edged up 47 cents to $40.53 a barrel in e-trading on the New York Mercantile Exchange by midday in Europe. Earlier, it fell as low as $39.19, [...]
Pump prices continued their slow decent in California and much of the nation (all the but the midwest) over the last week, reaching levels not seen since the early weeks of 2004. In the Midwest, prices rose for the first time since Hurricane Ike caused spot shortages there in September.
The newest lows came [...]
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