We all know oil prices are extremely volatile, and trying to predict them is a fool’s errand. But just how easily can they be impacted? Here’s look at the some of the craziest events that caused the price of oil to rise.
Iran, fresh from an OPEC meeting where it won significant concessions from regional rival Saudi Arabia, accelerated the rejuvenation of its sanctions-ravaged energy industry on Tuesday when the state producer signed a new-model oil investment contract.
OPEC agreed on Wednesday to cut its oil output for the first time since 2008, with the group’s leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices.
The oil industry has been saying for months that the worst of the oil bust is over. Now the Fed is too.
Oil fell about 3 percent on Tuesday after Saudi Arabia and Iran dashed market hopes that the two major OPEC producers would find a compromise this week at meeting in Algiers to help ease a global glut of crude.
So we’re dependent on foreign oil. How bad could that be?
Analysts at investment banks currently forecast the price of WTI oil to be at least $65 by the end of 2019. How reliable are those predictions?
A Philadelphia energy company has signed a 10-year agreement to produce a mixture of biofuel and jet fuel for JetBlue Airways Corp., a deal aimed at reducing the airline’s dependence on fossil fuels.
Oil traders and analysts increasingly see the statements as an OPEC ploy to prop up prices short term.
Tesla Motors Inc. on Thursday filed a lawsuit against state officials over the right to directly sell its all-electric vehicles to consumers in Michigan.
