• Kilduff: Why Bullish Bias In Oil Market Remains Strong Tuesday, 10 Jun 2008 | 10:35 AM ET
    John Kilduff

    The International Energy Agency released its monthly oil report this morning. News headlines trumpeted the agency’s forecast of reduced demand for the fifth consecutive month. However, the market has jumped all over a forecasted decline in Non-OPEC oil production of 300,000 barrels per day.

  • High prices mean these, and other key producing countries, don’t need the incremental revenue. They are getting plenty of revenue through price, they don’t need to get it through volume.

  • OPEC Can't Affect Volatility: Nigerian Oil Min. Monday, 9 Jun 2008 | 3:54 AM ET

    OPEC is powerless to affect the volatility in world oil prices and an emergency meeting would only fuel speculation and exacerbate the problem, Nigerian Oil Minister Odein Ajumogobia said on Monday.

  • Oil Closes Near $128: Biggest Jump Since March Thursday, 5 Jun 2008 | 3:45 PM ET

    U.S. light, sweet crude futures rebounded from two days of sharp losses, ending more than 4 percent higher as the dollar weakened against the euro, prompting funds to switch assets to the oil markets.

  • Oil Settles Below $123 as Gasoline Supplies Swell Wednesday, 4 Jun 2008 | 4:02 PM ET
    Oil Barrels

    U.S. crude oil futures fell on Wednesday, as a larger-than-forecast rise in refined product inventories last week offset an unexpected drawdown in crude oil supplies.

  • Oil Settles Below $125 on Fed's Inflation Warning Tuesday, 3 Jun 2008 | 3:56 PM ET
    Oil Pipeline in Germany

    U.S. light, sweet crude oil futures fell sharply, pressured by the dollar's strength after Federal Reserve Chairman Ben Bernanke's warnings about the impact of the dollar on inflation and by concerns that oil demand is being curbed by high prices.

  • Oil Prices Edge Higher but Remain Below $130 Monday, 2 Jun 2008 | 3:27 PM ET

    Oil prices rose modestly but still settled below $130 as concerns about heating oil supplies rose and after an OPEC official said there's no need for the cartel to pump more oil.

  • Oil Settles Above $127 a Barrel on Weaker Dollar Friday, 30 May 2008 | 3:05 PM ET

    Oil prices rose to more than $127 a barrel on Friday as a drop in the dollar drew in investors seeking to hedge against the weaker greenback.

  • Oil Prices Plunge Over $4 To End Below $127 a Barrel Thursday, 29 May 2008 | 2:03 PM ET

    Oil prices dropped over $4 to below $127 a barrel as concerns about global energy demand and strength in the dollar countered a big decline in U.S. stockpiles last week.

  • Indonesia Quits OPEC as Oil Prices Soar Wednesday, 28 May 2008 | 11:37 PM ET

    Declining oil reserves and investment have forced Indonesia to quit the Organization of Petroleum Exporting Countries even as other members cash in on soaring global prices, the energy minister said.

  • Oil Prices Could Be Nearing A Peak After Record Rise Wednesday, 28 May 2008 | 5:01 PM ET
    Oil Refinery

    The unprecedented run-up in oil prices may finally have reached a peak as the dollar stabilizes, Saudi Arabia boosts production slightly and demand slows, analysts say.

  • Oil Prices Settle More Than $2 Higher at $131 Wednesday, 28 May 2008 | 3:31 PM ET

    Oil rose $2 to more than $131 a barrel Wednesday, rebounding from a sharp drop that had been triggered by concerns about a slowdown in world energy demand.

  • Saudi Arabia Pumps Extra Oil to Match Demand Wednesday, 28 May 2008 | 8:22 AM ET

    Top oil exporter Saudi Arabia has boosted supply to help meet the world's need for fuel and may further increase output later if needed, a senior Gulf OPEC source said on Wednesday.

  • Oil Prices Settle Below $129; Gasoline Hits Record Tuesday, 27 May 2008 | 5:23 PM ET

    U.S. crude oil futures closed more than $3 lower on Tuesday, extending a slide as a stronger dollar, technical weakness and demand concerns kept the pressure on the oil complex.

  • US Crude Rises Above $133 On New Supply Worries Monday, 26 May 2008 | 11:49 AM ET

    Oil rose above $133 on Monday as long-term supply concerns lingered and fresh production problems appeared in Nigeria and Norway.

  • Oil Prices Close Above $132 Before Long Weekend Friday, 23 May 2008 | 3:18 PM ET
    Oil Pump

    U.S. crude oil futures rose on Friday after seesawing before dealers bought defensively ahead of a long weekend and as the market eyed a weaker dollar and strikes affecting French port traffic.

  • Oil Prices Seen Averaging Above $107 This Year Friday, 23 May 2008 | 1:38 PM ET
    Oil Pump

    Oil prices are expected to average above $107 this year and to stay above $102 for the next two years due to concerns over long term supply constraints and strong demand from emerging markets, a Reuters survey of analysts found.

  • Oil Prices Settle Near $131 after Intraday Record Thursday, 22 May 2008 | 3:41 PM ET
    Oil Refinery

    Oil prices pulled back sharply from a record above $135 a barrel on Thursday as dealers took profits from a dazzling rally and a recovering U.S. dollar dampened commodities markets.

  • Oil Surges Over $134 on Supply Woes, Weak Dollar Wednesday, 21 May 2008 | 3:02 PM ET

    Oil prices surged $5 to a record over $134 a barrel in Asian trading Thursday after a U.S. government report showed a surprise drop in crude stockpiles, reinvigorating fears of a supply crunch.

  • OPEC Oil Supply Rising in May: Petrologistics Wednesday, 21 May 2008 | 6:45 AM ET

    OPEC oil supply in May is expected to rise by 700,000 barrels per day (bpd), led by higher output from members including Nigeria and Saudi Arabia, an industry consultant said on Wednesday.