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Latest Economic effects of Hurricane Katrina Stories

2009-09-22 08:54:15

Crude oil prices stayed within range of recent trading, but rose above $71 per barrel on the New York Mercantile Exchange Tuesday, In the past month light, sweet crude has traded between $67 and $73.50 on the exchange. Tuesday, crude oil prices jumped $1.74 to $71.45 per barrel. Heating oil prices gained 0.0458 cents to $1.7975 per gallon. Reformulated gasoline prices added 0.0424 cents to $1.7938 per gallon. Natural gas prices rose 0.101 cents to $3.677 per million British thermal units. At...

2009-08-28 14:55:45

Births dropped in the year after Hurricane Katrina in areas of Louisiana and Mississippi that were hit but rose in affected parts of Alabama, researchers say. Births were down 30 percent in the Louisiana region pummeled by the 2005 storm and 13 percent in the affected parts of Mississippi -- an average of 19 percent for the 14 counties in those two states -- but rose 6 percent in selected Alabama counties, the Centers for Disease Control and Prevention's National Center for health Statistics...

2009-03-19 08:34:42

Crude oil prices, provoked by the U.S. dollar's decline, surged $3.35 to more than $51 a barrel Thursday morning on the New York Mercantile Exchange. The dollar fell sharply after the U.S. Federal Reserve said it would buy $300 billion in U.S. Treasuries and $750 billion in mortgage-backed securities, expanding its debt holdings by more than $1 trillion. Overnight, crude oil prices hit $51.49 per barrel after gaining more than 6 percent from Wednesday's prices. Heating oil prices gained...

2009-01-15 08:23:15

Crude oil and natural gas prices fell on the New York Mercantile Exchange, with natural gas falling to a two-year low on slumping demand. The U.S. Energy Information Administration this week estimated a drop in natural gas demand of 1 percent for 2009, The Wall Street Journal reported Thursday. Some of the decline could be attributed to heating systems switched to heating oil. Stockpiles of heating oil rose by 6.3 million barrels in the week ending Jan. 9. Crude oil prices dropped 71 cents...

2008-10-01 12:00:27

Barry Tipping spent three days searching for gas in Atlanta. The quest seemed to be in vain, as the 44-year-old tried nearly 20 gas stations, many with their pumps draped in bags, or waits that stretched to more than an hour. Twice when Tipping did find stations with gas, he sat in a long line only to see the station run out of premium unleaded before he reached the pump. So here was Tipping on Sept. 30 happily paying $4.33 a gallon to fill his silver Mercedes at an Exxon (XOM) station in the...

2008-09-23 09:01:02

By John Porretto Associated Press HOUSTON -- Some gasoline stations in parts of the Southeast are out of fuel, and shortages could persist for days as refiners continue to recover from the one-two punch of hurricanes Ike and Gustav. Industry officials also say a crush of people topping off tanks - - or panic buying in some cases -- can worsen the problem. "The system is not equipped for that," said Jeff Lenard, spokesman for the National Association of Convenience Stores, which...

2008-09-19 03:00:27

HOUSTON - Nearly 4 million customers were without power and the electricity supply to refineries along the Gulf of Mexico was still limited Tuesday days after Hurricane Ike struck. With crucial refineries and pipelines shut down in Texas and Louisiana, retail gas prices rose again in the first extended increase since oil began its historic rise over the summer. Power outages afflicting broad areas of the nation were among the nation's largest ever. About 2.2 million customers were...

2008-09-18 18:00:45

By CHURCHOUSE, Nick HURRICANE winds and financial storms have hit fuel markets, but motorists are finally seeing the effect of a plummeting oil price. Petrol companies cut the price of petrol by 4c a litre and diesel by 6c a litre yesterday, as prices in the depressed crude oil markets flowed through to refined petrol. Shell initiated the drop, taking 91 octane to $1.96 per litre, 95 octane to $2.01 and diesel to $1.54. International oil prices have dropped about 10 per cent in two...

2008-09-16 07:00:00

By Clifford Krauss Oil companies are warning U.S. motorists that they will not be able to produce adequate supplies of gasoline in the days ahead because so many of their refineries are still not operating in the aftermath of Hurricane Ike. As a result, prices at the pump in the United States have begun soaring again, another piece of bad news for the world's largest economy, which is already facing crises in the housing market and on Wall Street. Crude prices on the New York Mercantile...

2008-09-15 09:00:48

The effects of Hurricane Ike reached U.S. commodities markets Monday, as crude oil dipped to well less than $100 a barrel in morning trading. Crude was selling for $94.75 a barrel in morning trading on the New York Mercantile Exchange, off $6.43 from Friday's close after it was determined that the hurricane did relatively little damage to Gulf oil production facilities. Home heating oil was off 0.2060 cents, trading at $2.7331 a gallon. Gasoline and natural gas also began Monday's...


Word of the Day
tessitura
  • The prevailing range of a vocal or instrumental part, within which most of the tones lie.
This word is Italian in origin and comes from the Latin 'textura,' web, structure.