Upgrading to a next generation game console is looking to be an expensive endeavor, working not unlike a tax on the non-industrious. With Microsoft leveraging a supply and demand advantage for the holiday season and Sony just trying to pay for its state-of-the-art-ness, Nintendo’s Revolution may turn out to be a cost-effective compromise.
Descension In the Tanks: Oil Prices Plunge
Oil prices plunged down today to $47 before settling at $47.25. The prices for light sweet crude as OPEC regains control over the market from speculators who drove prices up over $58 a barrel in early April. Brent North Sea crude was down $1.19 cents at $48.15.
Oil Prices Steady While Saudis Cover Supply
Light sweet crude settled at $48.97 up 36 cents for the day on Tuesday after dropping to $47.60 on Monday. Prices steadied today after promises to cover demand from OPEC and Saudi Arabia and expectations of U.S. inventory growth in the U.S. Dept. of Energy Report on Wednesday.
Oil Prices Fall For Third Day In a Row
Oil prices fell for the third day in a row to under $48 a barrel yesterday as supplies continue to increase in the United States and demand growth gets slower in China.
Oil Prices Sit While OPEC Ponders Production Levels
Light sweet crude prices climb almost to the $53 mark up 67 cents at $52.70 this morning. Meanwhile OPEC leaders begin to discuss possible production increases for June. Brent North Sea crude is up about 75 cents at $51.68 this morning. Gasoline prices are up 3 cents this morning at $1.50 a gallon.
Oil Prices Bounce After U.S. Inventories Rise
Oil prices bounce up and down this morning even after the U.S. Dept. of Energy announce a rise in inventories this morning. While light sweet crude dropped below the $48 mark immediately following the announcement, it quickly bounced back up to 20 cents over its opening price and then back down slightly to 15 cents at $49.35. Brent is trading down 27 cents at $50.25 and gas is down almost 2 cents $1.44 a gallon.
Despite Drop In Crude, Gas Prices to Linger
President Bush and Prince Abdullah shook on it. Oil prices have been cliff diving like lemmings on angel dust. We are all systems go now for off-roading this summer, right? Not quite.
Inventories Swell and Oil Prices Drop
The U.S. Energy Information Administration said oil inventories swelled 5.5 million barrels and crude prices descended $1.10 to $53.10 a barrel in the process. Brent crude also saw a big drop of $1.06 a barrel to $53.08 a barrel.
Crude Oil Prices Slam Down Over $2 a Barrel
Light crude oil prices slammed down to one of the biggest single-day drops recent weeks going down to $51.50 before settling up back slightly to $51.61 down $2.59 for the day.
Oil Prices Start Dropping
Oil prices started dropping this morning in early electronic trading on the New York Mercantile Exchange. This happens on the heels of a meeting this week between President Bush and Saudi Crown Prince Abdullah and right before the U.S. releases its energy reports for the week.