Archive for May, 2008
Oil prices drop below $112 on stronger dollar
SINGAPORE - Oil prices retreated further Friday from the early week record near $120 a barrel as a strengthening U.S. dollar prompted investors to exit the market.
As the greenback has recovered this week against the euro and yen, the front-month crude futures contract on the New York Mercantile Exchange has dropped $8 from its high [...]
Exxon profit soars, but misses forecasts
No. 1 U.S. oil company’s profit and revenue miss estimates, even as it posts second-largest earnings total on record.
NEW YORK — Record oil prices netted Exxon Mobil a $10.89 billion profit in the first three months of the year, sharply higher than a year earlier but short of Wall Street estimates and below what was [...]
