Fiat Chrysler to Lay Off 1,300 Workers in Michigan, Investing More on Light Truck Productions

Fiat Chrysler is announcing a 1,300 job cuts as a result of the company’s decision to focus on producing light trucks and SUVs. American automakers are reportedly struggling to make money on other car models, such as sedan recently.

Read Full Article

EIA cuts 2016 production forecast for US

The US Energy Information Administration (EIA) has lowered outlook for the US crude production in 2016. EIA has reduced the forecast for 2016 by one percent in the US oil production.

Read Full Article

Decline in drilling, oil prices up

Oil prices rose following the indications that stockpiles are declining and drop in drilling activity. The global oil benchmark Brent was up three percent as expectations that less drilling may reduce future oil production and inventories as well. Gasoline futures also surged on renewed demand. US crude's front-month rose 4.5 percent or $2 to end at $46.68 a barrel. Brent rose 3.1 percent and closed at $48.92/barrel. It's learnt that US drillers have called off drilling activity for the past three weeks. It's estimated that the US crude production may drop by 250,000 barrels per day (bpd) the second and fourth quarters this year.

Read Full Article

Oil price decline makes gasoline less expensive

Gas becomes less expensive because the bottom has fallen out on oil prices. Crude is responsible for almost half the cost of a gallon of gas, as reported by CNN Money. Since June, prices have been plummeting and according to AAA, the regular gasoline's average price is now at $2.40 per gallon or more than a dollar less than it was a year ago. The plunge has been widespread and average prices are still above $3 in only four states namely: California, Nevada, Alaska, and Hawaii wherein the last two states have everything that is often more expensive.

Read Full Article

U.S. crude falls more than 1 percent on surprise stockpile build

U.S. crude futures fell more than 1 percent on Wednesday after a surprise build in stockpiles while gasoline rallied on bets for strong fuel demand through the peak summer driving season.

Read Full Article

Oil down about 3 percent again on dollar, awaits supply data

Oil prices fell by up to 3 percent for a second straight day on Wednesday as a resurgent dollar weighed on the market amid concerns that U.S. crude supplies may have started rising again after three weeks of draws.

Read Full Article

U.S. gas prices up 22 cents over past three weeks: survey

The average price of a gallon of regular-grade gasoline in the United States rose 22 cents over the past three weeks to $2.82, according to a Lundberg survey released on Sunday.

Read Full Article

Oil dives 3 percent on surging dollar, renewed supply worries

Oil prices tumbled 3 percent on Thursday as a resurgent dollar erased gains from the past two sessions, setting the market up for its first weekly loss in five.

Read Full Article

Oil prices drop as Middle East tension eases

Oil prices extended declines from the previous session on Wednesday as tensions in the Middle East eased after Saudi Arabia ended an air strike campaign in Yemen, but industry leaders said the market could rebound as attention turned to rising demand.

Read Full Article

Retail sales rebound signals thaw in economic activity

Retail sales rose in March for the first time since November as consumers stepped up purchases of automobiles and other goods, suggesting a sharp slowdown in economic growth in the first quarter was temporary.

Read Full Article

California motorists hit the road again: Kemp

California's gasoline sales are rising at some of the fastest rates for a decade, as an improving economy and lower fuel prices encourage more driving, according to state tax records.

Read Full Article

U.S. gas prices fall 4 cents, ending weeks of increases: survey

The average price of regular grade gasoline fell 4 cents in the past two weeks, bringing it to $2.50 per gallon, according to the Lundberg survey released on Sunday.

Read Full Article

Mexico's Pemex launches ethanol biofuel program to cut emissions

Pemex is set to launch its first-ever sales of gasoline mixed with cleaner-burning ethanol to reduce greenhouse gas emissions, the Mexican state-run oil company said on Thursday.

Read Full Article

Lower gasoline prices dampen U.S. consumer inflation

U.S. consumer prices fell over the past year for the first time since 2009 as gasoline prices continued to tumble, which could allow a cautious Federal Reserve more room to hold off on raising interest rates.

Read Full Article

U.S. retail sales data point to slower economic growth

U.S. consumer spending barely rose in January as households cut back on purchases of a range of goods, suggesting the economy started the first quarter on a softer note.

Read Full Article
1 2

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics