Oil prices fall on news U.S. may step in

Article Abstract:

Oil prices dropped from near 10-year highs on Sep 13, 2000 due to expectations of positive results from US government's decision to use the country's Strategic Petroleum Reserve. Pres Clinton's administration has been reportedly talking with oil refiners on how to best tap reserves to pull back fuel prices and build inventories. Another factor contributing to the decline in oil prices is the announcement by the Organization of Petroleum Exporting Countries to boost oil production by 800,000 barrels daily.

Petroleum and Coal Products Manufacturing, Petroleum

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Winter heating bills loom as oil nears $35

Article Abstract:

The price of crude oil increased to $34.90 per barrel on Sep 6, 2000, at the New York Mercantile Exchange, the commodity's highest price since Nov 1990, at the height of the Persian Gulf War. The increase is expected to translate to $0.17 increase in the price of petroleum products last Aug 2000. Consumers are increasingly becoming wary of further fuel oil increases, especially with the approching winter 2000 season.

Crude Petroleum and Natural Gas Extraction, Crude Petroleum, Petroleum

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