Oil prices are continuing to rise — here’s why

as informed in BusinessOil prices are continuing to rise — here's whyDear John: Please don't drink the Kool-Aid. And when oil prices rise, so too do gasoline prices. And since the media have now bought into the belief that the market — meaning supply and demand — controls energy prices, there isn't even the press' oversight. In this case, Social Security would subtract two-thirds of your non-covered pension from the Social Security benefits you'd get under your wife's coverage. There are other things involved, so you really have to talk with a Social Security worker.

Oil prices PLUMMET as US West Texas drops after biggest high since 2014

Oil prices have tumbled with US West Texas suffering a shocking dayThe price of US crude rose to its highest price since 2014 yesterday afternoon before sharply falling, sparking panic and warnings. One expert warned of an "oil shock" and said there was "little confidence" in the industry escaping a price death spiral, which saw prices fluctuate wildly. Following yesterday's surge and plummet, prices climbed slowly today - although uncertainty in the industry is unlikely to see any consistent growth. John Kilduff, founding partner at energy hedge fund Again Capital, said yesterday: "You're starting to hear talk of oil shock. AdvertisementGETTY US West Texas oil prices hit its biggest high since 2014 today before plummetingUS West Texas rose again to $74.60 during this morning - although any further movement is expected to be limited due to the July 4th celebrations in America.

Oil prices fall after surprise rise in US. inventories(Update) - Business News

referring to TOKYO: Oil prices dropped on Wednesday after an industry group reported that U.S. crude inventories rose last week, defying analyst expectations for a significant reduction. They rose 32 cents to $72.16 a barrel on Tuesday, after earlier touching a three-month low. [API/S]Distillate fuels stockpiles, which include diesel and heating oil, rose by 1.7 million barrels, compared with expectations for an 873,000-barrel gain, the data showed. The units have the ability to process a combined 700,000 barrels per day, and are used to prepare extra-heavy oil for export. But late on Tuesday, Libya's National Oil Corp said it had declared force majeure on crude oil loadings at Zawiya port as of Monday.

Oil prices spike 13% in a week. What the heck is going on?

The State Department is now insisting that other countries stop importing Iranian oil -- or face sanctions from Washington. "You can't tweet about high oil prices and then apply sanctions on Iran and not expect prices to go higher," said Ben Cook, portfolio manager at BP Capital Fund Advisors. Such a bold promise from Saudi Arabia would normally hurt prices, but oil bulls saw a silver lining. The massive supply glut that had been pressuring oil prices is gone. The State Department said on Tuesday it expects all countries to eliminate Iranian oil imports.

collected by :Frank Ithan