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Tag Archives: crude oil price

Oil prices skid as traders worry there’s a fuel glut

fuel glut, oil prices

NEW YORK (AP) — Oil prices fell nearly 5 percent on Thursday after a government report on fuel stocks reinforced worries about an oil glut. The report said that crude inventories are declining at a slower pace than expected. Stockpiles of oil and gasoline remain high, even though people drive more during the summer. A country awash in fuel has ...

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Oil’s plunge hammers U.S. funds, humbles even savviest investors

The plunging price of crude oil is causing pain at every kind of U.S. mutual fund this year, humbling even the industry’s best portfolio managers as their mistimed bets in the energy sector continue to cause losses for investors. The sector’s bottom has been more of a trap door for many fund managers. On Tuesday, for example, U.S. crude futures ...

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Oil price plunge pulling Calgary’s housing market down with it

CALGARY, Alberta – A year ago, one of the hottest parts of Canada’s red-hot housing market was Alberta’s oil capital of Calgary, where cash-rich consumers fought for the fanciest home on the block. Now, a plunge in crude prices is pulling the housing market with it. While realtors in Calgary are loathe to admit the tide has turned, sellers are ...

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Region’s energy sector starting to contract, according to Fed survey

The region’s energy sector has already started to contract because of falling oil prices, according a new survey by the Kansas City Federal Reserve Bank. More than half of the surveyed oil and gas firms plan to cut spending, and a quarter anticipate significant layoffs over the next six months, according to the survey. The survey covers Kansas, Oklahoma, Colorado, ...

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Fracking is saving Americans billions of dollars

A recent report commissioned by the American Petroleum Institute states that hydraulic fracturing saved Americans roughly $250 billion last year. The report was part of a move to combat various regulations that are meant to restrict fracking activity. The study examined past fuel prices and production data and weighed it against what the market would be like without hydraulic fracturing. ...

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