Oil Prices | featured news

The recent surge in oil prices is no prelude to broader price increases that would force the U.S. Federal Reserve to raise interest rates, two top Fed officials said on Thursday.

Markets calmed Thursday, opening broadly higher in New York. Markets regained their losses Thursday, after falling nearly 2% on Wednesday as Japan’s nuclear crisis and protests in the Middle East heated up fears over the safety in equity investments. Oil added to its gains Thursday, rising 2% to $99.99 a barrel.

After seeing oil prices skyrocket from days of turmoil in Libya, investors now must grapple with political protests in the world's top oil exporter, Saudi Arabia, and the impact of Japan's biggest earthquake on record.

Oil prices tumbled 3 percent Thursday, as economists warned that the recent surge in fuel prices will eventually hurt the fragile economic recovery....

United Continental Holdings Inc., the world's biggest airline
company, scrapped its 2011 growth plans on Monday and said it will
cut unprofitable routes because of rising fuel prices.

Rising fuel prices have forced Southwest Airlines to raise ticket prices, but the Dallas-based carrier is also focusing on efficiency measures to lower its fuel consumption, president and CEO Gary Kelly said Monday.

The crisis in Libya again pushed oil prices higher as the New York Mercantile Exchange opened for trading Monday.

White House Chief of Staff Bill Daley said on Sunday the Obama administration is considering tapping into the U.S. strategic oil reserve as one way to help ease soaring oil prices.

Thursday rally a distant memory as crude surges over $104 and Dow hits session lows.

Upbeat economic data, and slipping oil prices, sparked a broad rally Thursday, lifting the blue chips to their biggest percent gain since December.