Oil Price Drops, Stocks Make Gains

Stock Market Stocks Wall Street closed on a better note Thursday.

by Associated Press

Published: Thu, April 24, 2008 - 9:26 pm CST Last Updated: Thu, April 24, 2008 - 9:31 pm CST

Financial stocks helped to lead the stock market
higher. The Dow gained more than 85 points to 12,848. The S&P rose
8 points, while the Nasdaq surged 23 and three-quarters points.

As the dollar strengthened against the euro,
crude edged lower. Light, sweet crude for June delivery fell $2.24
to settle at $116.06 a barrel on the New York Mercantile Exchange.

Here's a possible sign that credit conditions
may be improving a bit. The Federal Reserve says big investment
firms averaged 22.6 billion dollars in daily borrowing over the
past week. That marks the third straight week where the firms
borrowed less from the central bank.

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rosepetal Says:

Fri, Apr 25, 2008 at 3:03 pm

well i am thankful for the weekend because they cant do anything until monday on the stock market but trust me monday it will be a different excuse to raise the cost of oil i was just wondering exactly how far away is iran from dauphin island where the gulf is full of oil rigs lol go figure

asda Says:

Fri, Apr 25, 2008 at 2:55 pm

I know since this morning the price of crude oil has gone up. They say because of an incident with some fast boats off the coast of Iran. And the whole nuke thing with Syria.

rosepetal Says:

Fri, Apr 25, 2008 at 1:05 pm

lol check the stock market today no one is going to drop some gas stations are getting it stuck to them as much as the consumer plus the banks are really limiting credit right now no way is anyone in their right mind going to drop their price i dont want to sell gas its to expensive

asda Says:

Fri, Apr 25, 2008 at 11:38 am

I think the Oil Companies need to be regulated just the way the power companies are.

mrs.plato Says:

Fri, Apr 25, 2008 at 11:28 am

I agree with you asda, WHEN WILL THEY DROP THE GAS PRICES SINCE THE OIL PRICES HAVE DROPPED????? This is getting ridiculas almost $4 for a gallon of gas, so if they aren’t going to drop the gas prices when are they going to start having our employers pay more so we can AFFORD to go to work everyday???

asda Says:

Fri, Apr 25, 2008 at 8:40 am

So when are the prices at the pump going to drop? They are quick to raise the price but never lower the price. What other industry can do this other than Oil Companies?

SumOneILove Says:

Fri, Apr 25, 2008 at 8:02 am

Oil price drops???