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Tag Archives: barrel

Oil falls below US$32 a barrel to hit new 12-year low: ‘China has torpedoed the hopes of optimists’

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Crude declined to a 12-year low, confirming the view of hedge funds that cut bullish price bets to the lowest since 2010. Futures dropped as much as 6.4 per cent in New York, adding to last week’s 10 per cent slide. Speculators’ net-long position in West Texas Intermediate crude slipped …

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Doomsday warning as predictions of $10-a-barrel oil grow

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Oil prices fell to fresh lows below $30-a-barrel Tuesday amid warnings the price rout could hit US$10 a barrel and bring down gas prices to levels last seen in 2009. Investment bank Standard Chartered became the latest big name to downgrade its oil outlook joining the likes of Goldman Sachs, …

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Obama seeks new $10-per-barrel oil tax in budget proposal to fund clean transport

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President Barack Obama will propose a US$10 per barrel tax on oil in his fiscal 2017 budget to finance self- driving cars, public transit, railroads and other transportation improvements, the White House said. “By placing a fee on oil, the President’s plan creates a clear incentive for private sector innovation …

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