CNBC's Michelle Caruso-Cabrera reports on surging oil exports in Iran.» Read More
Energy futures fell in quiet holiday trading Monday as investors, questioning whether oil will keep surging to new highs, decided to cash in some of their recent profits.
Energy futures fell Friday, as traders expecting a weakening of demand in the coming months cashed in profits from the previous session's rally.
Oil ended trade at $79.97 per barrel on Wednesday, after weekly U.S. data defied forecasts and showed crude inventories rising.
Turkey will finance a $3.5 billion investment in Iranian gas production entirely from a state company of its own as U.S. opposition has put off foreign investors, Energy Ministry officials said on Wednesday.
Oil slipped toward $80 per barrel Tuesday, retreating for a third day as a strengthening dollar and concerns about the world economy prompted investors to take profits.
Oil prices closed down on Monday, as investors took profit from the near-record highs of last week and weighed the threat of a deeper economic slowdown in the United States, the world's top oil consumer.
Oil futures fell Friday as a late flurry of selling overcame an earlier rally driven by the steadily weakening dollar.
Oil rose sharply to $83 per barrel on Thursday, as a weak dollar and supply worries ahead of the winter heating season encouraged buying by financial investors
Iran's interior minister says his country has finalized oil and gas projects with China. Two-way trade on target to hit $20 billion (14.4 billion euros) this year.
Acting Iranian Oil Minister Gholamhossein Nozari said on Wednesday there was no need for OPEC to increase its crude production, Iran's state broadcaster reported.
China could play fairer in its trade relations with the United States, Secretary of State Condolezza Rice told CNBC's Maria Bartiromo Friday. "On balance, a strong, growing Chinese economy is good for the international community, but China needs to play by the rules," she said.
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U.S. crude oil futures fell more than a dollar as RBOB gasoline faltered after rising early, triggering profit taking in the crude oil market and the rest of the oil futures complex, according to traders and analysts.
U.S. crude oil futures ended lower for the fourth consecutive session, as Nigerian militants freed several hostages taken from an Italian-operated oil field.
U.S. crude oil futures ended lower for the third day in a row after government data showed supplies last week rose within market forecasts.
U.S. crude oil fell 2% on Tuesday on expectations of rising supplies and a rebound in refinery throughput ahead of summer driving season in the United States, the world's biggest market.
Crude oil futures ended lower, sliding late in a choppy session that saw May RBOB gasoline futures up sharply ahead of its contract expiration, reaching an 11-month high at one point, amid refinery snags and supply concerns.
U.S. crude oil futures ended more than $1 higher on Friday, backed by another surge to neweight-month highs by gasoline futures.
U.S. crude oil futures ended a choppy session lower as traders booked profits. Earlier in the day, prices jumped above $66 a barrel amid a flurry of refinery glitches. A string of refinery outages in the United States, coming on the heels of a long and extensive maintenance season, has drained gasoline stocks as the giant market gears up for driving season.
Oil rose more than a dollar on Wednesday after U.S. gasoline stocks fell for an 11th straight week, tightening supplies ahead of peak summer demand in the world's top consumer.