Record floods have devastated Iowa farmers, The New York Times reports.
Saudi Arabia's pledge to boost oil production by 500,000 barrels per day may not be achievable, a source close to the Saudi oil industry told CNBC.com.
The start of hurricane and driving season in the U.S., coupled with instability in Nigeria and fuel stockpiling for winter will likely keep the crude price from falling, analysts told CNBC on Wednesday.
Saudi Arabia's oil output increase by almost 500,000 barrels a day this quarter, to 9.54 million barrels, CNBC has learned from sources in the Saudi Oil Ministry.
With the country in the grips of near-hysteria over soaring gasoline prices, Congress begins debate Monday on landmark climate legislation that critics say will substantially increase energy costs – and not produce any of the intended environmental benefits.
The 2008 hurricane season officially begins on Sunday, and active season could have serious implications for energy prices.
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.
Slightly less than 40 percent of shareholders voted at the oil company's annual meeting Wednesday to create an independent chairman.
The roads of the ravaged Irrawaddy Delta are lined these days with people hoping to be fed. After lifetimes living off the land, poor farmers have abandoned their ruined rice paddies, setting up makeshift bamboo shelters, waiting for carloads of Burmese civilians who have taken it on themselves to feed those who lost everything to Cyclone Nargis.
The 68 blue tents are lined up in a row, with a brand-new water purifier and boxes of relief supplies, stacked neatly but as yet undelivered and not even opened. But for the majority of Cyclone Nargis survivors, aid is something they've had no access to.
Its price has become one of the most widely discussed, debated and feared topics on Wall Street and on Main Street. But what's next? Will it continue to climb toward a "super spike" or have we seen the top for oil prices?
Tell Us: Who's to Blame for America's Oil Crisis?
Friday may be national Bike-to-Work Day, but more and more commuters are doing it on a daily basis, driven by ever-higher gasoline prices.
The first United Nations relief flights started to arrive on Thursday for cyclone victims in military-ruled Myanmar as a U.S. diplomat said that more than 100,000 people may have been killed.
U.S. natural gas inventories could be at seriously low levels at the start of winter this year, if current rates of liquefied natural gas (LNG) imports remain at record lows, a Goldman Sachs report said Wednesday.
The author of "the Stern Review" on the economic impact of climate change, Lord Nicholas Stern, talks to CNBC Europe about biofuels and climate change.
In the "You don't say?" file, the U.S. Geological Survey is predicting that California has a "99.7 percent chance" of getting hit by an earthquake of magnitude 6.7 or worse in the next 30 years. This information is used by insurance companies in setting earthquake policy rates.
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.
Are hedge funds and investment banks unfairly driving up fuel costs for families in the U.S. -- or are soaring energy prices the result of a strong global economy and a free financial system? Industry officials are debating the question -- and will present their arguments to CNBC on Thursday.
Continued military tensions between Colombia and its neighbors Venezuela and Ecuador--both OPEC members--are expected to keep upward pressure on oil prices. But analysts say it won't cause a significant spike in crude as long as armed conflict is avoided.