The price of crude oil futures fell on Wednesday, despite the hurricane bearing down on the Gulf of Mexico. West Texas Intermediate light, sweet crude oil futures fell .40 percent to $75.63 per barrel. President Barack Obama declared a state of emergency in Texas, while BP, Royal Dutch Shell, ConocoPhillips and Exxon Mobil evacuated workers… Read more.
The price of crude oil futures surged on Friday despite weak GDP figures that undermined investor confidence in the pace of economic recovery. The ICE West Texas Intermediate Light Sweet crude oil futures contract for September delivery rose 2.66 percent to $79.26 in London trading. Stocks and stock index futures moved in a relatively tight… Read more.
Commodity prices, especially those involving energy, reportedly jumped Thursday in response to U.S. government predictions that this summer will feature a highly active hurricane season. This is understandable because the hurricane-prone Gulf of Mexico is one of the main oil and gas production areas in the United States, and is also home to many of… Read more.
Those who plan to invest in energy futures in the coming weeks may be interested to know that the U.S. government is calling for an “active to extremely active” Atlantic hurricane season in 2010. This is potentially important because large storms, particularly those that affect states situated on the Gulf of Mexico, tend to disrupt… Read more.