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Crude oil drops 4 pct. on stockpiles report

Crude oil fell 4 percent on Wednesday after a U.S. government report said stockpiles dropped less than expected, reducing worries over supply.

Gold drops on lower oil prices, stronger dollar

Gold dropped on Tuesday, with lower demand for the metal as a hedge against inflation triggered by a drop in energy prices.

Citigroup to sell $7.5 billion stake to Abu Dhabi

Citigroup Inc is selling up to 4.9 percent of itself for $7.5 billion to the Gulf Arab emirate of Abu Dhabi, giving the largest U.S. bank fresh capital as it wrestles with the subprime mortgage crisis and the resignation of its chief executive. The capital injection will shore up Citi's balance sheet, which has been hurt by some $6.8 billion of writedowns and losses in the third quarter, and the potential for another $11 billion in the fourth quarter.

Oil Falls a Second Day on Speculation OPEC Increases Production

Crude oil declined for a second day in New York as sliding U.S. equity markets heightened speculation OPEC (Organization of the Petroleum Exporting Countries) will increase output to cap prices and reinforce global demand.

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Crude hits $98 a barrel

Crude oil for December delivery climbed to a record $98 a barrel in after hours trading Wednesday, adding to strong gains in the previous session that saw the energy contract into record territory Tuesday.

Mazda Q2 profits rise, keeps forecasts on weak yen

Mazda Motor Corp posted a 1.5 percent rise in quarterly operating profit as a weaker yen, cost cuts and sales growth offset a cutback in shipments to North America, and kept its full-year profit forecast unchanged.

Oil hits record $94 on U.S. inventory slump

Oil rallied to a record $94 a barrel on Wednesday after weekly data showed U.S. crude inventories unexpectedly slumped by 3.9 million barrels, countering expectations for an increase.

Crude oil drops below $93

Crude oil prices dropped below $93 a barrel on Tuesday, after hitting record highs a day earlier on concerns of production reductions in Mexico and record lows for the dollar.

Oil prices worry White House, but reserve off limits

Soaring prices have not yet become an emergency, with officials allowing the free market to work.

Dollar tumbles to record lows as Fed looms

The dollar fell to fresh lifetime lows versus the euro and a basket of currencies on Friday as investors fretted an anticipated Federal Reserve interest rate cut next week would not be the last.

Dollar hits fresh lows as rate cuts in view

The dollar fell to fresh record lows against the euro and a basket of currencies on Friday as investors, faced with a run of weak U.S. economic data, anticipated a Federal Reserve interest rate cut next week.

Gold bounces on bargain hunting, platinum hits record

Gold rebounded on Thursday as bargain hunters returned to the market amid worries about possible military action by Turkey in northern Iraq, high oil prices as well as a weak dollar.

Market slips with energy stocks, profit-taking

Blue-chip stocks dipped on Monday as a 2 percent drop in oil prices dragged the energy sector lower and investors locked in profits after Friday's rally.

Crude oil drops for the third day

Oil prices fell for the third day in a row after the dollar rebounded reducing the appeal of the commodities.

Market inches up on rate cut optimism

U.S. stocks mostly edged higher on Tuesday after growing optimism the Federal Reserve will soon make another cut in interest rates offset warnings from two leading retailers and weak economic data.

Crude Oil Retreats Towards $81

Crude oil fell for a second day towards $81 a barrel, retreating from record highs hit last week as producers in the Gulf of Mexico returned workers to oil rigs evacuated last week.

Gold near 28-year peak, targets new highs

Gold gained on Monday and hovered near a 28-year high after a weak U.S. dollar spurred buying from investors and speculators, who believed the price could rise further as fundamentals supported the metal.

Oil settles at new record above $83

Crude oil continued its march to new records on Thursday, settling above $83 on a plunging dollar and concerns about a storm in the Gulf of Mexico.

Oil settles near new record just under $82

Oil prices on Wednesday closed at a new record-high near $82 per barrel on Wednesday after a report shows that crude reserves dropped more than expected.

Energy sector roundup

Here is a brief roundup of Tuesday movement in the energy sector, with a look at crude oil and natural gas futures and oil stocks.

Oil Jumps Over $82 on Slashed Interest Rates

Oil jumped to a peak over $82 a barrel after the U.S Federal Reserve slashed interest rates and elevated concerns of a low winter supply.

FACTBOX: Why oil prices are at a record high

U.S. crude oil hit a record high of $81.24 a barrel on Tuesday, the fifth consecutive trading session that prices have reached an all-time peak.

OPEC agrees to raise output

Saudi Arabia persuaded OPEC to raise oil output by 500,000 barrels per day on Tuesday in a gesture to consumer nations worried by the economic impact of $77 oil and rapidly diminishing fuel stocks.

Most OPEC oil ministers hold line, Saudi silent

Most OPEC oil ministers held the line on Sunday that current output is sufficient to meet demand, but the world's biggest exporter Saudi Arabia was silent ahead of a September 11 meeting to chart production policy. The group that supplies more than a third of the world's oil will consider conflicting economic signals at Tuesday's talks when it sets production levels for peak winter demand.