Speculation on OPEC Output Target Leads to Mixed Oil Prices

Oil prices have ended mixed in the midst of growing speculation over the possible action of OPEC on production targets when it gathers in Vienna this week. In the meantime, the Energy Department of the United States reduced its forecast for the average price of West Texas Intermediate crude by $11 per barrel compared to its estimate last month because of slow growth of the global and US economy....
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Australian Trader Faces Charges for Global Crude Oil Price Manipulation

A commodity trader in Australia charged with organizing a grave crude oil price manipulation allegedly obtained over $50 million USD in illegal revenue. The trader is now scheduled for trial in New York. In one of the biggest cases of the CFTC or Commodity Futures Trading Commission of the United States, the regulator claims that 44-year old James Dyer established a network of shell businesses...
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Gasoline Prices in Southeastern Parts of the US Drop

Refineries in the Gulf Coast are working at high volume and crude oil prices are becoming stable. These two factors cause gasoline prices to fall in the Southeast. The most recent average cost of gasoline in Anderson City is $3.56 per gallon. That is almost ten cents lower compared to the past couple of weeks. Moreover, the latest market data shows that the average in Greenville has fallen by 6...
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Lundberg Survey Shows Drop in Current Gasoline Prices

A recently published nationwide survey showed that the average gasoline prices in the United States have declined by over a nickel during the last two weeks which marked their first drop since the month of December. According to the Lundberg Survey, the average price per gallon of regular gasoline is now at $3.91. That is a decline of more than five cents compared to its price two weeks ago when...
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Biofuel Promoted as Alternative to Crude due to Increasing Current Crude Oil Prices

After Faith Birol, the chief economist of the International Energy Agency, warned that crude prices worldwide pose a threat to the global macroeconomy, the Global Renewable Fuels Alliance or GRFA is requesting the G20 to pass policies on biofuels in order to decrease the nation’s damaging crude oil dependence. The chief economist recently gave a blunt warning that the world economy may...
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