gas prices, stock market

Retailers report modest gains for April

Americans spent briskly during the early spring months in the latest sign that they’re encouraged by the economic recovery. Falling gas prices, a rallying stock market and gains in the job market all fueled Americans’ shopping habits even as cold weather tempered their desire to buy spring fashions.

Another Election Year, Another Attempt to End Oil Speculation

Tue, 04/17/2012 - 5:23pm — Sin-Mao Yang

It might have started a couple months earlier, but this is eerily similar to the summer of 2008 when gas prices were at record highs, which is around $4 per gallon. Back then, congress proposed a bill to regulate oil speculation, but nothing came of it. It was shelved when people fought back by driving less and using alternative methods of transportation, lowering gas prices to the point where it no longer became an issue.

House Democrats urge limits on oil speculators

Congress should take steps to limit speculation in oil markets, which has boosted prices as much as 30 percent, a new report from the Democratic staff of a House of Representatives oversight committee said on Monday.

ExxonMobil CEO Says Oil Price Should Be $60 To $70 A Barrel

Rex Tillerson, the boss of ExxonMobil admitted last week that the price of oil–based purely on supply and demand- should be in the $60 to $70 a barrel range. The reason it’s above $100 a barrel, Tillerson explained, is due to the oil majors using futures contracts to lock in current high prices, and speculation that is engineered by the high-frequency trading of quantitative hedge funds.

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Retailers report modest gains for April

Another Election Year, Another Attempt to End Oil Speculation

House Democrats urge limits on oil speculators

ExxonMobil CEO Says Oil Price Should Be $60 To $70 A Barrel