Originally published on Thu October 16, 2014 1:47 pm
With oil around $85 a barrel and tumbling to its lowest levels in several years, here's the upside: Gasoline prices are down, the U.S. is feeling less dependent on foreign crude, and serious economic pressure is growing on oil producers such as Iran and Russia.
Here's the downside: The low demand for oil reflects a fragile global economy that's vulnerable to additional shocks, like falling stock markets around the world.
Originally published on Mon February 10, 2014 3:18 pm
Cold weather this week has boosted demand for heating fuels across the country. Natural gas prices are up, especially in the Northeast. At one point prices for natural gas into New York City jumped nearly tenfold from an average winter price of $5.68 per million BTU to $55.49, according to Bentek Energy, an analytics company.