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  • Who's going to fix the roads?     Wednesday, 7 May 2014 | 2:53 PM ET

    The federal gas tax hasn't gone up in 20 years. CNBC contributor Ed Rendell and Cato Institute senior fellow Dan Mitchell, debate whether it's time.

  • *Cushing stocks down 1.4 million barrels- EIA. NEW YORK, May 7- U.S. crude oil prices rose by more than $1 a barrel on Wednesday after a government report showed an unexpected sharp drop in inventories in the United States. U.S. crude rose $1.18 to $100.68 a barrel by 12:57 p.m. EDT, with its discount to Brent narrowing about 40 cents to $7.11 a barrel.

  • LONDON, May 7- U.S. crude oil prices jumped by more than 1 percent on Wednesday after a government report showed a sharp drop in inventories in the United States. Brent crude was pressured after Russia called for separatists in the east of Ukraine to postpone an independence referedum.

  • CRUDE OIL FUTURES EXTENDS GAINS AFTER SURPRISE EIA STOCKPILE DRAW.

  • Freeport sheds TX shale assets in $3.1 bln deal Wednesday, 7 May 2014 | 7:32 AM ET

    Freeport-McMoRan is selling its Eagle Ford Shale assets in Texas to an Encana subsidiary for $3.1 billion.

  • *Increased risk of Ukraine civil war supports oil prices. LONDON, May 7- Brent crude edged further above $107 a barrel on Wednesday, underpinned by rising tensions in Ukraine, though its premium over U.S. prices narrowed after an industry report showed a sharp draw in inventories in the world's largest oil consumer.

  • *Increased risk of Ukraine civil war supports oil prices. SINGAPORE, May 7- Brent crude edged further above $107 per barrel on Wednesday after an industry report showed U.S. crude stocks declined last week, while increasing geopolitical risks in Ukraine helped put a floor under prices.

  • *Increased risk of Ukraine civil war supports oil prices. SINGAPORE, May 7- Brent crude edged higher above $107 per barrel on Wednesday after an industry report showed U.S. crude stocks declined last week, while increasing geopolitical risks in Ukraine helped put a floor under prices.

  • WTI ends near $101, drags Brent along for the ride Wednesday, 7 May 2014 | 2:52 PM ET

    U.S. crude oil prices jumped by more than 1 percent after a government report showed a sharp drop in inventories in the United States.

  • SEOUL, May 7- U.S. crude futures rose in early Asian trade on Wednesday, moving back towards $100 a barrel after the American Petroleum Institute said U.S. crude stocks declined last week, defying analysts' expectations for a build. *U.S. crude gained 37 cents a barrel at $99.87 as of 0033 GMT after it settled 2 cents higher at $99.50 a barrel on the previous session.

  • China's shale plans: Bad news for poor countries? Tuesday, 6 May 2014 | 7:08 PM ET
    Chris Pugh

    China's plans to establish a shale industry to rival the U.S.'s could be a blow for some of the world's poorest gas exporters.

  • NEW YORK, May 6- U.S. crude futures settled nearly unchanged on Tuesday, but later rose in post-settlement trade after industry group the American Petroleum Institute reported that crude stocks decreased last week, defying analysts' expectations for a build. The U.S. Energy Information Administration will issue its official inventory report on Wednesday.

  • CRUDE OIL FUTURES RISE IN POST-SETTLEMENT TRADE AFTER API REPORTS INVENTORY UNEXPECTEDLY FALLS.

  • API inventory report due 4:30 p.m. EDT. NEW YORK, May 6- U.S. crude futures settled nearly unchanged on Tuesday, paring gains toward the close as traders took profits ahead of a weekly inventory report, while Brent prices fell, pressured by resuming Libyan supply. U.S. oil rose 2 cents to settle at $99.50 a barrel, after hitting a mid-session high of $100.42.

  • Commodities tomorrow: Nat gas up 2%     Tuesday, 6 May 2014 | 3:50 PM ET

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Gold was down on the day, but still above the $1,300 mark. The weaker dollar didn't help crude, which settled below $100. Nat gas, on the other hand, was up more than 2 percent, as traders compared supplies to yearly averages.

  • UPDATE 7-U.S. crude rises on low Cushing stocks Tuesday, 6 May 2014 | 11:55 AM ET

    *Positions harden in Ukraine crisis. NEW YORK, May 6- U.S. crude futures rose on Tuesday as expectations of a build in inventories were undermined by record low stocks at the benchmark's Cushing delivery point, while Brent was near flat, weighing the Ukraine crisis against rebounding Libyan supplies.

  • LONDON, May 6- Brent crude rose above $108 per barrel on Tuesday, supported by clashes across Ukraine and lingering uncertainty over Libya's supply recovery. And in Libya, the vital southern El Sharara oilfield remains closed while new protests shut the Zultun and Raquba oilfields in the central eastern region of the OPEC producer.

  • LONDON, May 6- Brent crude held steady below $108 per barrel on Tuesday as clashes across Ukraine helped support a market that might otherwise buckle from ample supply especially in the United States, the top oil consumer.

  • SINGAPORE, May 6- Brent futures held steady below $108 per barrel on Tuesday as clashes across Ukraine helped to support a market that might otherwise sag under expectations U.S. crude inventories grew again last week to another record high. Brent crude for June delivery was up 5 cents at $107.77 per barrel by 0715 GMT, after settling 87 cents down.

  • SINGAPORE, May 6- Brent crude held steady below $108 per barrel on Tuesday as clashes across Ukraine added to geopolitical risk supporting a market that might otherwise sag due to expectations weekly data will show higher inventories in the United States.