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Gasoline could fall to $3 a gallon as crude prices continue to drop

Gasoline could fall to $3 a gallon as crude prices continue to drop | EconMatters | Scoop.it
Crude oil prices were down Wednesday, part of a trend that could bring gas prices to around $3 a gallon, an analyst says.
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Oil Drops to 5-Year Low on Concern Supply Glut to Worsen

Oil Drops to 5-Year Low on Concern Supply Glut to Worsen | EconMatters | Scoop.it
Crude oil dropped to the lowest level in more than five years on concern a supply glut will worsen.
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U.S. Weighs ‘Proportional Response’ to Hack of Sony Pictures

U.S. Weighs ‘Proportional Response’ to Hack of Sony Pictures | EconMatters | Scoop.it
The Obama administration is weighing a “proportional response” to the cyber-attack on Sony Pictures Entertainment computers and is wary that the intrusion may have been designed to provoke a large-scale U.S. reaction, White House spokesman Josh Earnest said.
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Saudi Arabia Says Hard for OPEC to Give Up Oil-Market Share

Saudi Arabia Says Hard for OPEC to Give Up Oil-Market Share | EconMatters | Scoop.it
Saudi Arabia and OPEC would find it “difficult, if not impossible” to give up market share by cutting crude production, the country’s oil minister said.
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Japan Lost a Decade, So Did U.S.

Japan Lost a Decade, So Did U.S. | EconMatters | Scoop.it
Independent opinions and commentary about the latest news. Get insights on financial, political & economic issues from global thought leaders.
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Traders Betting Russia’s Next Move Will Be to Sell Gold

Traders Betting Russia’s Next Move Will Be to Sell Gold | EconMatters | Scoop.it
Russia’s surprise interest-rate increase failed to stop the plummeting ruble. Another tool available to repair economic havoc caused by sanctions and falling oil prices: selling gold.
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Hedge Fund Manager Who Remembers 1998 Rout Says Prepare for Pain

Hedge Fund Manager Who Remembers 1998 Rout Says Prepare for Pain | EconMatters | Scoop.it
Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia.
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Ruble Sinks to 80 a Dollar Defying Surprise Russia Rate Increase

Ruble Sinks to 80 a Dollar Defying Surprise Russia Rate Increase | EconMatters | Scoop.it
The ruble sank to a record, deepening Russia’s currency crisis, as people scrambled to convert their money into dollars after a surprise interest-rate increase failed to shore up investor confidence.
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Russian crisis turns systemic as rouble crashes 13pc - Telegraph

Russian crisis turns systemic as rouble crashes 13pc - Telegraph | EconMatters | Scoop.it
Russia's central bank is letting the rouble plunge as the path of least resistance, but this is becoming dangerous as fear spreads
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Record Oil Tankers Sailing to China Amid Stockpiling Signs

Record Oil Tankers Sailing to China Amid Stockpiling Signs | EconMatters | Scoop.it
The number of supertankers sailing to China jumped to a record in ship-tracking data amid signs that the oil-price crash is spurring the Asian nation to stockpile.
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Senate Panel Votes to Authorize U.S. War on Islamic State

Senate Panel Votes to Authorize U.S. War on Islamic State | EconMatters | Scoop.it
A Senate panel voted to give President Barack Obama a three-year authorization to use military force against Islamic State, opening a debate unlikely to be settled until the new U.S. Congress convenes next month.
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US settles below $60 for 1st time since July 2009

US settles below $60 for 1st time since July 2009 | EconMatters | Scoop.it
US crude oil prices have fallen some 33 percent this year. Traders warned that a bottom for crude remained elusive after a six-month selloff.
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It’s Oil, Stupid, as Russian Rate Hikes Powerless

It’s Oil, Stupid, as Russian Rate Hikes Powerless | EconMatters | Scoop.it
Investors are betting that the Bank of Russia will raise interest rates tomorrow after it exhausted all other options for stabilizing the ruble. A look at the oil price suggests that too may be futile.
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Cuban-Americans Gear Up for Business as Embargo Thaws

Cuban-Americans Gear Up for Business as Embargo Thaws | EconMatters | Scoop.it
The phones started ringing at the Miami offices of law firm GrayRobinson even before President Barack Obama ended his speech Wednesday outlining measures to establish diplomatic ties and ease economic barriers with Cuba.
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Putin Says Russian Economy Should Be Ready for $40-a-Barrel Oil

Putin Says Russian Economy Should Be Ready for $40-a-Barrel Oil | EconMatters | Scoop.it
The Russian economy must adapt to the reality of oil prices that could fall as low as $40 a barrel, President Vladimir Putin said as he faces the worst financial crisis since coming to power in 2000.
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Fed Says 'considerable time' to keep 0-0.25% fed funds rate

Fed Says 'considerable time' to keep 0-0.25% fed funds rate | EconMatters | Scoop.it
The Federal Open Market Committee was expected to keep its target funds rate near zero, as all eyes look toward a possible rate hike next year.
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Oil Plunge Sets Stage for Energy Defaults: Credit Markets

Oil Plunge Sets Stage for Energy Defaults: Credit Markets | EconMatters | Scoop.it
Bond investors, already stung by the biggest losses from U.S. energy company debt in six years, are facing more pain as the plunge in oil leads analysts to predict defaults may more than double.
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Russia Sees No Need to Cut Oil Supply With Prices to Stabilize

Russia Sees No Need to Cut Oil Supply With Prices to Stabilize | EconMatters | Scoop.it
Russia will keep its crude oil output steady next year and plunging prices will stabilize, Energy Minister Alexander Novak said, reiterating comments made almost three weeks ago that nation won’t alter supplies to halt the rout.
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Global Crude Plunges Through $60 as Producers Fail to Curb Glut

Global Crude Plunges Through $60 as Producers Fail to Curb Glut | EconMatters | Scoop.it
The global price of crude oil plunged through $60 a barrel for the first time in five years with almost no signs producers are ready to tackle a glut.
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Whiz kid stock picker: No, I didn't make $72M

Whiz kid stock picker: No, I didn't make $72M | EconMatters | Scoop.it
"The attention is not what we expected—we never wanted the hype," Mo Islam said.
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Opec willing to push oil price to $40 says Gulf oil minister - Telegraph

Opec willing to push oil price to $40 says Gulf oil minister - Telegraph | EconMatters | Scoop.it
Senior Opec ministers says cartel has no fear of oil prices falling to levels as low as $40 per barrel amid price war with Russia and US shale
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IEA Cuts Global Oil Demand Forecast for 4th Time in 5 Months

IEA Cuts Global Oil Demand Forecast for 4th Time in 5 Months | EconMatters | Scoop.it
Global oil demand next year will be weaker than previously estimated and supply from non-OPEC producers will be bigger, the International Energy Agency said.
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With $2 Gas, the Toyota Prius Is for Drivers Who Stink at Math

With $2 Gas, the Toyota Prius Is for Drivers Who Stink at Math | EconMatters | Scoop.it
It now takes years of fuel savings to cover the price premium on hybrid cars such as the Toyota Prius
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Canada Heavy Oil Nearing $40 Threatens Oil Sands Projects

Canada Heavy Oil Nearing $40 Threatens Oil Sands Projects | EconMatters | Scoop.it
Canadian heavy crude fell to near $40 a barrel, threatening projects under construction as producers boosted output and space on a pipeline was rationed.
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Iran Sees $40 If There’s OPEC Discord

Iran Sees $40 If There’s OPEC Discord | EconMatters | Scoop.it
Brent crude fell near to a five-year low as OPEC said it expects demand for its crude next year to be the lowest since 2003. West Texas Intermediate also sank.
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