Over the course of the past year, as oil prices hovered near the $ 30.00
per barrel mark, cities that rely on the energy sector for their economies, including Houston, Dallas, Denver and Tulsa and Oklahoma City, Okla., experienced office vacancies that spiked to double digits.
Over the course of the past year, as oil prices hovered near the $ 30.00
per barrel mark, cities that rely on the energy sector for their economies, including Houston, Dallas, Denver and Tulsa and Oklahoma City, Okla., experienced office vacancies...
With oil prices closer to the $ 100
per barrel mark, the oil sands start looking like a better bet.
Real estate equities (a small category comprising just three funds with 15 - year track records) and energy equity funds rounded out the Top 5, even though oil prices now hover around the US$ 50
per barrel mark.
After crashing last year and then hitting several peaks and valleys, oil prices have traded within a relatively narrow range, with WTI bouncing around a bit above and below the $ 60
per barrel mark, and Brent staying near $ 64 per barrel.
Oil prices have bounced around the $ 60
per barrel mark, low enough to cause deeper financial stress for weaker companies.
Not exact matches
WTI for April delivery was
marked 0.8 % lower at $ 48.39 while Brent contracts for May, the global benchmark, were seen 0.5 % lower at $ 51.50
per barrel.
The U.S. pumped 6.5 million
barrels a day of oil last year, according to the Energy Information Administration, the most since the mid-1990s, and production has continued to surge; April's figure of 7.4 million
barrels per day
marked the best month in more than two decades.
«They'll hit the 11 - million -
barrel -
per - day
mark come summer here.
Market commentators noted that Freeport benefited today from strong commodity markets, including a solid $ 1.50 -
per -
barrel gain to bring oil prices close to the $ 48
mark and a two - year high for copper prices to approach the $ 2.75 -
per - pound level.
But the commercial aviation industry burns nearly 240 million gallons (945 million liters) of Jet A daily and if oil prices were to approach the $ 150 -
per -
barrel mark reached last year, the demand for Camelina oil might end up driving farmers to grow less wheat — a staple food crop.
The U.S. Energy Information Administration (EIA) offered a preview of its 2014 Annual Energy Outlook that will come out next spring, and the second slide in Administrator Adam Sieminski's presentation is an attention grabber, charting how expanding domestic oil production will reach historic levels in 2016 — 9.6 million
barrels per day, a
mark set in 1970.
The U.S. last week reached a 21 - year high for domestic oil production, more than 7.3 million
barrels of oil
per day, something that is «nothing short of phenomenal,» writes blogger
Mark J. Perry.