Energy Secretary Stephen Chu cites crude oil disruptions in Libya and elsewhere as reason to open the Strategic Petroleum Reserve now. Gas prices, however, have been falling in recent weeks.
Greece bailout talks involve a second rescue package roughly the size of the first. But Greece bailout could be delayed until July.
Stock markets in Asia, Europe fall sharply after US stock markets plunge and Greek debt worries rise. Futures point to rebound in the US.
Oil stocks are climbing globally, which is sending oil and gasoline prices lower. One factor behind rise in oil stocks: a resurgent Iraq.
Stock prices mostly rise on world markets. Germany, France, and several Asian markets see stock prices go up. But markets in US, Britain closed due to holidays.
Oil futures close down below $98 a barrel in New York. Oil futures fall as dollar strengthens.
Stock prices slide more than 1 percent in Japan, South Korea, and Hong Kong. Investors expect stock prices to go lower, analyst says.
Oil futures drop below $98 a barrel. Gasoline futures decline even more. Oil futures now down 15 percent this month.
Futures markets in cotton, wheat, gasoline, and silver see broad declines. Oil and gold futures climb.
Gas prices are expected to drop – perhaps quite a bit – as the wholesale price of gasoline tumbles. The size of the drop will depend on how long commodities prices remain low.