Oil and Gas

Oil prices up; gas down (Long Beach Press-Telegram)

16 May 2008

Oil futures ended a whipsaw session slightly lower Thursday as the expiration of options played havoc with prices, driving crude near record high levels at times and down by more than $3 a barrel at others. National retail gas prices, meanwhile, advanced past $3.77 a gallon.

Oil industry beefing up storm plans (Houston Chronicle)

16 May 2008

The U.S. offshore oil and gas industry is much better prepared to deal with hurricanes than it was in 2005, when major storms whipped through the Gulf of Mexico.

Oil falls; U.S. gas hits $3.77 (Richmond Times-Dispatch)

16 May 2008

NEW YORK -- Oil futures ended a whipsaw session slightly lower yesterday. The expiration of options played havoc with prices, driving crude near record high levels at times and down by more than $3 a barrel at others. Retail gas prices, meanwhile, advanced past $3.77 a gallon. Options allow investors to bet whether oil prices will rise or fall, and prices can fluctuate widely on days that ...