Despite falling Tuesday amid fear of production hikes, crude oil prices may stabilize based on recent trends, an expert said.» Read More
Houston-based Plains All American Pipeline said that in a "worst-case scenario," up to 105,000 gallons of oil spilled Tuesday, USA TODAY reports.
The case stems from a 2010 rig explosion that killed 11 workers and sent oil spewing into the Gulf of Mexico for 87 days.
Drivers will pay a few more cents per gallon for gasoline this Memorial Day weekend, but that should be the highest price of the year, experts say.
The pipeline—which spilled oil off the California coast—has been shut off, but it's not yet clear how much oil spilled.
Governments globally charge prices for energy that do not account for its harmful side effects, amounting to a $5.3 trillion subsidy, the IMF said.
Democrats are twice as likely as Republicans to spend their gas savings on nonessential items, according to a new survey from Bankrate.
Activists in kayaks have protested against plans by Shell to resume oil exploration in the U.S. Arctic. For analysts, the news means Shell's "problem child" is getting some attention.
Brazil's Petroleo Brasileiro beat analyst forecasts, posting first-quarter profit little changed from a year earlier.
There are 11 companies where analysts have boosted their profit forecasts for the second quarter, USA Today reports.
There are potentially very large resources in the Arctic, so the current oil price is somewhat irrelevant, the Shell Oil president said.
While the number of rigs operating is down more than 50 percent, oil production in the U.S. actually upticked last week, John Kilduff said.
Saudi Arabia says its strategy of squeezing high-cost rivals such as US shale producers is succeeding.
Because Canada has a diversified economy, oil's drop hasn't had a devastating impact, its finance minister said.
U.S. oil producers appear to have lost their battle with OPEC over market share, the International Energy Agency warned Wednesday.
The recent rally in oil has forecasters tweaking their models to see what a sustained price recovery might look like.
In a monthly report released Tuesday, OPEC raised its 2015 global demand growth forecast to 1.18 million barrels per day.
The only languages that really count at this summer's OPEC meeting will be Arabic, Farsi, Kurdish and money.
Castleton Commodities will buy Morgan Stanley's physical oil business, vaulting the merchant into the big leagues of global crude and fuel traders.
A rally in the price of oil over the last couple of months has derailed a rebalancing of the commodity's price, Goldman Sachs warned.
OPEC may think that oil will stay under $100 a barrel for the next decade but two pros say this is what can push crude back to that level.
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