LightSweetOil.com

During the summer of 2008, when oil prices jet up to about 150 dollars a barrel, the United States was in the midst of a growing recession with no end in sight. The crude oil prices topped any price in the history past the industrial revolution. The prices were high due to a number of [...]

The prices of oil skyrocketing in 2008 added to the global recession. Domestic markets relied heavy on the much lighter and cleaner sweet crude oil. The producers of this kind of oil are the Arab nations of Saudi Arabia and Iraq, along with some other eastern nations such as Indonesia and the small country of [...]

Oil prices slumped below $45 a barrel today in reply to brand new evidence of the U.S. recession and news that a $14 billion emergency bailout for U.S. automakers had collapsed in the Senate.
The decline wiped out most of the strong gains made in the previous day’s session, but traders said expectations of a significant [...]