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  • Oil Jumps Nearly $4 to Record $119.97 Close Monday, 5 May 2008 | 4:37 PM ET
    Oil Refinery

    Crude oil futures leaped to a new all-time high above $120 a barrel, as supply concerns grew and the U.S. dollar weakened against the euro. Retail gasoline and diesel prices eased over the weekend, although pricier oil threatens to push them higher again.

  • Oil Ends Up at $116.32 on Jobs Optimism Friday, 2 May 2008 | 4:48 PM ET

    Oil jumped more than 3 percent to over $116 a barrel Friday, after a report -- showing the U.S. economy lost fewer jobs than feared in April -- eased worries about the country's economic health.

  • Oil Ends Down at $111.82 on Stronger Dollar Thursday, 1 May 2008 | 2:57 PM ET

    Another jump in the dollar and the end of an oil workers' strike in Nigeria sent crude prices falling Thursday, as speculators who drove crude futures to nearly $120 pulled out of the market. Retail gas prices, meanwhile, rose to a new record above $3.62 a gallon.

  • Oil Falls Below $115 but Rebounds After Fed Decision Wednesday, 30 Apr 2008 | 2:34 PM ET

    Oil fell $2 a barrel, extending a retreat from a record high this week to more than 5 percent after a US government report showed crude oil stockpiles rose much more than expected in the world's top energy consumer.

  • Oil Below $116 as Dollar Rises, UK Strike Ends Tuesday, 29 Apr 2008 | 1:58 PM ET
    Locals ride a canoe past oil instalations belonging to the Mobil oil company in Bonny Island, Nigeria, Thursday, Aug. 17, 2006. Militant groups using kidnappings and sabotage attacks to press their demands for a share of the region's oil wealth, which they accuse the central government of stealing, have made southern Nigeria a volatile place. (AP Photo/George Osodi)

    Oil fell more than $3 a barrel on Tuesday, retreating further from a record high hit a day before, as the dollar firmed and a strike ended at Britain's Grangemouth refinery.

  • Oil Ends Up at $118.75 After Hitting Record Tuesday, 29 Apr 2008 | 1:55 PM ET

    Oil hit a fresh peak near $120 a barrel on Monday as supply outages in Nigeria and Britain shut down nearly 2 million barrels per day (bpd) of output in the Atlantic Basin.

  • OPEC President Says $200 Oil Possible: Report Monday, 28 Apr 2008 | 6:06 AM ET

    OPEC President Chakib Khelil does not rule out oil prices reaching $200 a barrel, even though supply is adequate, because the market is driven by the dollar's slide, Algerian government newspaper El Moudjahid reported on Monday.

  • Oil Ends Up at $118.52 on Strike, Iran Tension Friday, 25 Apr 2008 | 3:32 PM ET

    Oil settled up over $118 -- down from its intra-day high above $119 -- aafter a workers strike cut production in Nigeria and tensions rose between the United States and Iran

  • Oil Settles Lower, Near $116, on Dollar Strength Thursday, 24 Apr 2008 | 3:42 PM ET

    Oil settled slightly above $116 a barrel on Thursday as the dollar firmed and investors booked profits after crude rallied to a record high earlier this week.

  • Oil Ends Up at $118.30; Down from Tuesday's High Wednesday, 23 Apr 2008 | 4:31 PM ET
    Oil Refinery

    Oil rose on Wednesday after U.S. government data showed a bigger-than-expected decline in gasoline stocks ahead of the summer driving season, offsetting a build in crude inventories.

  • Crude Oil Settles Above $119 for the First Time Tuesday, 22 Apr 2008 | 2:48 PM ET

    Oil surged more than $2 to close at a record settling price near $120 a barrel on Tuesday as supply concerns from Nigeria and the North Sea propelled crude higher.

  • Oil Sets Another Record, Settling Above $117 Monday, 21 Apr 2008 | 3:08 PM ET

    Crude oil prices hit a record closing high over $117 a barrel on Monday as rebel attacks cut Nigerian supplies and a Scottish refinery strike threatened North Sea crude production.

  • Oil Price Deepens Pain, Producers Dodge the Blame Monday, 21 Apr 2008 | 11:43 AM ET

    Record high oil prices have deepened economic pain and even energy producers have begun to fret, but at talks with their customers in Rome they blamed the U.S. dollar and said they could not halt the rally.

  • OPEC President: No Need to Raise Oil Production Sunday, 20 Apr 2008 | 11:16 AM ET
    Gas Pump

    The Organization of Petroleum Exporting Countries sees no need to raise oil production to counter high oil prices, the OPEC President said on Sunday.

  • Investors--More Than OPEC--Determining Price Of Oil Wednesday, 9 Apr 2008 | 1:54 PM ET

    With oil prices topping $112/barrel and some analysts predicting the next stop to be $120, will OPEC finally step in and add crude to the market to tame prices? I doubt it will happen.

  • OPEC: Weak Dollar, Not Supply, Keeps Prices High Tuesday, 8 Apr 2008 | 9:18 AM ET

    The weak dollar is the main factor keeping prices at high levels, not the supply of oil, and that situation is likely to continue, current OPEC president Chakib Khelil, who is also Algerian Oil Minister, said on Tuesday.

  • Top European Videos of the First Quarter Tuesday, 1 Apr 2008 | 8:22 AM ET

    Investors hope the second quarter will be better than the first, when markets went on a rollercoaster of writedowns, trading scandals and record oil prices. Here are CNBC Europe's best videos of the first quarter.

  • Venezuela's Chavez: We Don't Want Pricier Oil Thursday, 27 Mar 2008 | 4:58 PM ET

    Venezuela is not interested in seeing oil prices rise further and is pushing to stabilize the market, President Hugo Chavez said after visiting the site of a Brazilian refinery being built to process Venezuelan crude.

  • OPEC: Output Higher than Demand for Oil Friday, 14 Mar 2008 | 10:44 AM ET

    OPEC is pumping more than enough oil to keep consumers satisfied and a potential U.S. recession could mean lower demand for its crude, the group said on Friday.

  • IEA Predicts Slower Oil Demand for 2008 Tuesday, 11 Mar 2008 | 6:44 AM ET

    World oil demand will be less than expected this year because of slower economic growth in industrialised countries and record prices, the International Energy Agency said on Tuesday.