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Pandora founder Tim Westergren is taking over as the company’s CEO and investors are not happy with the move. Shares at Pandora fell by as much as 10% on Monday after Pandora announced the executive-level management shakeup. Pandora has struggled to keep pace with the likes of Spotify and Apple. Investors in the company were […]
The world is continuing to drown in an excess amount of oil and it’s getting worse. US oil stockpiles skyrocketed by 9.4 million barrels last week to 532.5 million barrels, according to figures released on Wednesday by the U.S. Energy Information Administration. Those levels are three times higher than analysts had expected. Last week crude climbed over […]
Lumber Liquidators Holdings Inc’s shares are crashing on Monday after the Centers for Disease Control and Prevention (CDC) reported on Feb. 18 that people exposed to some types of the company’s laminate flooring were three times more likely to get cancer than previously estimated. The CDC estimates that 6-30 cases per 100,000 people, compared with the 2-9 cases […]
Iran on Wednesday said it would not restrain oil output as part of a global pact to freeze production and help prop up oil prices. The country’s officials are focused on recapturing the market share that was lost after years of US sanctions. Non-OPEC Russia and OPEC leader Saudi Arabia, have been in talks to […]
Crude oil has become so cheap that even Nigerian pirates are turning their backs on oil rigs that pass through their waters. A Bloomberg report Monday noted that attacks on vessels shipping oil in the Gulf of Guinea in West Africa have dropped by one-third in the past year while oil prices crashed. The gulf includes the Atlantic […]
Famed investor Jim Rogers believes Central Bankers have no idea how to do their jobs and we’re all going to pay the price for their moronic choices. “We’re all going to pay a horrible price for the incompetence of these central bankers,” he said Monday in a TV interview with CNNMoney’s Nina dos Santos. “We […]
Global markets bounced back slightly after sharp drops last week, but still-falling oil prices kept investors uncertain about the future. Benchmark Brent crude fell $1.85 to $30.34 a barrel, a 5.75 percent drop from Friday’s close. It had fallen to a 12-year low last week, hitting $27.10 on Wednesday before recovering on Thursday and Friday. […]
Oil futures continued to decline on Wednesday as U.S. crude reached its lowest since 2003. U.S. crude oil dropped more than 4% in early trading, falling to as low as $27.32 a barrel. The sinking future rebounded to track $1 below its starting price at $27.46 as of 1239 GMT. The contract settled down 96 cents, […]
Oil prices have reached their lowest price since 2003 in early trading on Monday, as the market braces for a big jump in oil exports led by lifted sanctions in Iran. The UN nuclear watchdog group on Saturday said Tehran was meeting its commitments to curtail its nuclear program. Following those findings the US revoked sanctions […]
The strong US dollar and weak demand for oil in China could send the price per barrel to $20. Analysts at Morgan Stanley said on Monday that a 5% increase in the value of the US dollar would be enough to push down oil by between 10% and 25% or about $8 per barrel. Crude futures […]
Oil prices fell on Tuesday as investors continued to worry about economic growth in China and the US dollar continued to pick up strength. Brent crude prices, a global benchmark for oil pricing, fell by 17 cents to $37.05 a barrel while US West Texas Intermediate crude fell by 7 cents to $36.69 a barrel. […]
Oil prices will likely continue a downward plunge in early 2016, before eventually picking up steam and increasing as the year moves forward. Over the last 18 months oil has dipped by 68% due to a massive supply glut. Oil on Friday fell to a seven-year low of $34.50. The collapse in oil pricing has […]
