Crude Oil Prices

Oil prices extending Tuesday's massive sell-off after the government reports that U.S. crude oil stockpiles unexpectedly jumped last week.
From BloggingStocks: OPEC Sees Slowing Demand for Oil

At one point down $10 from yesterday, oil prices settled nearly $6.50 per barrel lower on Tuesday as traders dump the commodity amid concerns about the economy.

Oil prices briefly reach a new record above $147 a barrel as rising hostilities between the West and Iran and the potential for attacks on Nigerian oil facilities gave investors reason to rush back into the energy markets. Crude futures ended the week about 20 cents short of last Thursday's record close.

More Market News

After dropping more than $9 per barrel from its high heading into the holiday weekend, oil prices bounce higher Wednesday on new tension in the Middle East. What impact will Iran's missile testing have on the cost of fuel? BloggingStocks contributor Michael Fowlkes looks at the possibilities.

Reuters

Alarmed at the nation's reliance on foreign oil, Texas oilman Boone Pickens promotes his plans to move the nation toward other sources of energy and challenges the presidential candidates to take action.
Also See: Oil Down $9.25 From Thursday's Record

After settling at a new high for each of the six previous sessions, crude oil futures drop nearly $4 per barrel from Thursday's all-time record close. After the holiday weekend, gasoline sits at $4.108 a gallon.