HOUSTON, March 13- The U.S. government lifted a ban on Thursday that excluded BP from new federal contracts, after the British oil major filed a lawsuit saying it was being unfairly penalized for its 2010 Gulf of Mexico spill.» Read More
A fire on a Mexican offshore oil platform cut off 422 barrels per day (bpd) of production on Tuesday, state-owned energy monopoly Pemex said, a tiny fraction of Mexico's overall output.
The shrinking dollar skidded to a new low against the euro overnight though its off its lows as markets await the release of Fed minutes and its forecast later today. In the stock market, a spirited rally started to run out of steam by midday.
With crude oil closing in on the $100 mark, what are the implications for the economy and your stocks?
Nearly 32 million Americans will take to the roads this week for the Thanksgiving holiday, seemingly undeterred by retail gasoline prices over $3 a gallon — a figure that is translating to $100 fill ups for some.
U.S. Energy Secretary Sam Bodman said on Tuesday the United States was not concerned about the debate within OPEC on whether it should seek an alternative to the dollar in pricing oil.
Royal Dutch Shell's oil sands upgrading plant near Edmonton, Alberta, caught fire late on Monday and the company said it was taking units off line after crews extinguished the blaze.
Transocean said Monday it won a three-year contract worth up to $569.4 million for its ultra-deepwater drillship Discoverer Spirit from oil and gas producer Anadarko Petroleum.
OPEC pledged to provide "adequate, timely and sufficient" oil supplies to the market and voiced concern about global climate change.
Stocks got a good lift on the opening despite a negative forecast from Federal Express that says more about the economy than the company. That move up, driven in part by options expirations, has faded. The energy markets are cooking and oil is rising close to $95 per barrel, ahead of the expiration of the December contract there today.
I'm standing at the base of Mendenhall Glacier outside Juneau Alaska. Gorgeous is an understatement. A local lady comes by out of breath. "If you go around the corner, " she says smiling, " you'll see the bald eagle in the tree. Oh, and do so hope that we can see the bear today!"
The fourth quarter is now half over, and fourth quarter earnings estimates have been coming down quickly for financials and retailers. Both Kohl's and Ann Taylor lowered their guidance. Ann Taylor noted that "Traffic trends were particularly soft in the month of October," though they improved in November
Saudi Arabia is building up a special 35,000-strong rapid reaction force to protect its energy installations from attacks by militants targeting the world's largest oil exporter.
U.S. oilfield services group Schlumberger on Friday raised its bid for Norway-listed seismic group Eastern Echo to 15 crowns per share from 12 crowns.
A statement to be issued at a meeting of OPEC leaders this weekend will emphasise the role of the exporter group in helping to combat climate change, delegates from the producer group said on Friday.
A U.S. federal appeals court Thursday threw out planned federal fuel economy standards for many sport-utility vehicles, minivans and pickup trucks.
Millions of Americans will drive their cars to visit family and friends over the Thanksgiving holiday, even though gasoline is above $3.00 per gallon, travel and leisure group AAA said Thursday.
Here's what we're focusing on throughout the day: Oil took a dive after inventory data showed an unexpected build in supply. Oil was also moving lower earlier after OPEC cut its demand forecast for the fourth quarter Core CPI for October rose 0.2%, in line with expectations. Oil is lower this morning , following comments earlier this week from the IEA. Inventory data was due at 10:30 a.m.
US stocks closed an uneasy session lower as investors, uncertain if the worst of the credit crisis is over, refrained from extending Tuesday's huge advance.
OPEC said on Thursday it sees a modest downturn in the U.S. economy in the fourth quarter due in part to record high oil prices, but booming growth in China and the Middle East will keep world oil demand strong.
China National Offshore Oil Corp has been offered Royal Dutch Shell's oil business in Australia's North West Shelf oil and gas project, The Australian newspaper reported on Thursday.