Gasoline prices continue to rise, and most analysts expect to see gas easily surpass its 2008 record high of $4.11 a gallon before all is said and done. With oil trading just shy of $109 a barrel (as of the time of writing this oil is trading at $108.34 a barrel), it is little doubt that high gasoline prices are here to stay for a while, and with the high demand ...

Despite being hit with some seriously unfavorable employment data today, Wall Street made strong gains to close out the week today. The DOW was up 2.7% today, the NSADAQ inched up 2.9%, and the S&P posted a rise of 2.7%. Earlier in the day, it appeared as though we may be in store for a sell off when the Labor Department released unemployment data for January. In its report, it said that ...

With the way oil prices have been moving this year, it is not too surprising that oil giant Exxon Mobil (NYSE: XOM) was able to show yet another record setting quarterly profit this morning. However, despite the record setting quarter, the company still failed to meet analyst expectations. Let's take a look at the numbers; For the quarter, Exxon posted $2.22 per share on profits of $11.68 billion and a stunning ...

Energy prices just keep on heading higher, and today we see new highs for both oil and gas. Oil crept through the $143 mark today, a traders continue to see oil as their refuge from a weak overall global economy. As recession fears continue to weigh on the minds of traders, they are flocking into commodities as a hedge against a possible full blown recession.  Supply concerns are also present today, ...

Oil prices have continued to move higher today, hitting a new record high of $130.47 as investors continue to push prices higher in reaction to the slumping American dollar. Last week it had started to look as though the dollar was making a comeback, but that has changed, and now the dollar is once again dropping, and as a result oil prices are moving into new territory. The euro is moving ...

Despite surging food prices, inflation was actually a bit lower in April than the 0.3% inflation that we saw back in March. According to the Labor Department, inflation moved up 0.2% in April, which was slightly under the 0.3% inflation in March. Analysts had been expecting to see inflation rise by 0.3% again in April. If you exclude food and energy costs, then you are left with a core inflation, which was ...

With oil prices moving as high as they have over the past year, many of you are probably wondering when will we see prices start to retreat? While the pain oil prices is causing at the pump is likely to have everyone wishing for a drop in oil prices, this may be something that is just not in the cards at this time. There are a lot of reasons to believe ...

With all the concerns that we have been hearing about a possible recession this year, it was good to see that the U.S. economy did grow during the first quarter, even if it was just bit a small amount. According to a report from the Commerce Department today, the economy grew at 0.6% during the first quarter of the year. That is the same growth that we saw in the last ...

Fueled by a bullish weekly inventory report, oil prices traded up to set a new all time high today. The previous record high oil price was $111.80, but that record was shattered today, as prices moved up to set a new high of $112.21, and are currently trading up $2.17 to $110.67. Before today's inventory report, analysts had been expecting to see the Energy Department report that oil inventories had risen ...

Oil prices have continued their recent surge following this week's inventory report from the Energy Department. Oil has jumped $2.65 to $111.15, and are very close to hitting its historic all time high of $111.80. Prices moved up as high as $111.43 immediately following today's report. The market had been pretty flat for most of this morning, in anticipation of today's report. What we have seen is a drop of oil ...