Crude oil futures climbed on Thursday, arresting a two-session losing streak, as industry spending cuts and a weaker dollar spurred buying.» Read More
The area is expected to hold billions of barrels of oil and trillions of cubic feet of gas, but energy firms are tentative about the region.
Brent and U.S. crude rebounded modestly in choppy trading, with weak Chinese data briefly pushing the October Brent contract to a two-year low.
Crude climbed by more than $1 a barrel on Wednesday, as traders reacted to strong U.S. data and expectations of stronger demand.
Chris Weafer, senior partner at Macro-Advisory, discusses Ukraine's options as Gazprom demands money for unpaid bills.
Cramer thinks there’s a problem lurking inside the market, and it could knock stocks at any given moment.
Russian President Putin warned that U.S. sanctions will take relations with Russia to a "dead end" and damage U.S. business interests.
After Argentina's defeat in the US courts in its dispute with hedge funds, President Fernández will turn to China and Russia for support.
Ukraine may want to sell energy assets to Western firms. But Russia may have something to say about it.
Brent held steady above $113 per barrel while U.S. crude weakened slightly, as speculation about Iran and the West offset fears about Iraq.
Russian companies are preparing to switch contracts to renminbi and other Asian currencies amid fears that western sanctions may freeze them out.
Crude pared gains on Wednesday, amid news that Ukraine's president-elect was working on a peace plan with Russia.
Ukraine doesn't like being dependent on Russia for much of its energy, but it may have no choice for now.
Asian stocks ended mostly higher on Thursday on upbeat Chinese data and the Federal Reserve's reassurance that rates would not rise anytime soon.
Alexei Kokin, oil and gas senior analyst at UralSib Capital, and Daragh McDowell, senior analyst at Maplecroft, discuss the significance of the gas deal between China and Russia's Gazprom
China President Xi Jinping and Russian leader Vladimir V. Putin were unable to agree on a gas deal, despite mutual political interests.
Brent was supported by instability in Libya while U.S. oil for June delivery dipped modestly.
Putin hopes to sign a multi-billion dollar gas agreement with China, ending false starts and wrangling over a deal seen as vital to both sides.
Oil traded near three week highs, supported by a draw on stocks in the United States and the deteriorating situation in Ukraine.
Major oil companies with interests in Russia scrambled Monday to respond to new U.S. sanctions against Russia.
"Companies with money tied up in Russia would have a tough time getting it back out," says one foreign policy analyst.