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  • NEW ORLEANS— Attorneys for BP told a federal appeals court Thursday that the company should be able to seek restitution of some of the money it paid in economic damage claims to businesses and individuals under a settlement arising from the 2010 Gulf of Mexico oil spill. Attorneys told the 5th U.S. Circuit Court of Appeals that restitution could involve more...

  • CALGARY, Alberta, Sept 1- ConocoPhillips and Husky Energy Inc announced key milestones in bringing two new oil sands projects online on Tuesday, underlining how some producers in the high-cost sector are boosting production even as crude prices tumble. The Canadian Association of Petroleum Producers forecast in June that oil sands production to hit 3.1...

  • Europe markets end 3% lower after weak China data Tuesday, 1 Sep 2015 | 11:40 AM ET

    European stock markets ended sharply lower on Tuesday after new data from China exacerbated concerns about the outlook for the world's second biggest economy.

  • ANCHORAGE, Alaska— Submerged countries, abandoned cities and floods of refugees await the world barring urgent action on climate change, President Barack Obama warned Monday, painting a doomsday scenario as he opened a historic visit to Alaska. His speech to an Arctic climate summit set the tone for a three-day tour of Alaska that will put the state's...

  • Bill Walker said Monday that he plans to recommend to legislators that the state buy out TransCanada Corp.' s position in the major liquefied natural gas project that Alaska is pursuing. Under an agreement that predates Walker's administration, TransCanada, a Canadian pipeline company, would hold the state's interest in the pipeline and gas treatment plant,...

  • US crude flirts with close of under $40 a barrel Monday, 24 Aug 2015 | 1:47 PM ET

    NEW YORK— The price of U.S. oil closed under $40 a barrel on Monday for the first time since the days of the global economic crisis on fears of a slowdown in the world economy. Oil hadn't closed below $40 since February 2009, although it briefly traded below that level on Friday. Supplies have built up and growth in the world economy has been slow, with China's economy...

  • NEW YORK, Aug 24- A key gasoline-making unit at PBF Energy Inc's 182,200- barrel-per-day Delaware City, Delaware, refinery is expected to be shut for at least a month- and possibly much longer- following an explosion and fire on Friday, a source familiar with plant operations said on Sunday. The primary wet gas compressor associated with the FCC at Delaware City and...

  • Aug 23- The average price of a gallon of gasoline in the United States remained steady in the past two weeks, as price rises in several Midwest cities offset cuts in the West, according to the Lundberg survey released on Sunday. Regular grade gasoline dropped just one-third of a cent to average $2.71 per gallon, according to the biweekly survey conducted on Aug. 21.

  • *U.S. crude falls to March 2009 lows just above $40/ bbl. *If US crude breaks below $40, could drop under $30- analysts. NEW YORK, Aug 19- U.S. crude oil slumped over 4 percent on Wednesday to hit a 6-1/ 2- year low and almost break below $40 per barrel, as a huge unexpected stockpile build in the United States reinforced concerns about a growing global oil glut.

  • Aug 17- Canadian pipeline operator Enbridge Inc is rationing space for mid-month on its line 4/ 67 ex Kerrobert for August, according to a notice to shippers on Monday that was seen by Reuters. Enbridge restarted two key Canadian crude lines last week after they were shut following a crude oil release in Missouri on Aug 11. The discount on Western Canada Select...

  • When will gas prices catch up with falling oil? Monday, 17 Aug 2015 | 4:52 PM ET
    A woman pumps gas at the Victory gas station in Pembroke Pines, Florida.

    Oil prices are tumbling, but gasoline prices are not, and it may take several quarters it to balance out, energy analyst Neal Dingmann says.

  • Why gas prices are rising despite oil's plunge Monday, 17 Aug 2015 | 12:00 AM ET
    A customer pumps gasoline into his car at an Arco gas station in Mill Valley, California.

    As crude oil approaches six-year lows, average gasoline prices have been rising for consumers. Here's what's behind the surge.

  • WTI crude ends up about 1% as US rig counts rise Friday, 14 Aug 2015 | 2:46 PM ET
    Monterey Shale fracking oil

    U.S. crude oil held gains Friday after oilfield services firm Baker Hughes reported its oil rig count rose for a fourth straight week.

  • This is what could break the back of oil Friday, 14 Aug 2015 | 10:55 AM ET
    A worker walks at Nahr Bin Umar oil field, Iraq, Nov. 23, 2014.

    A seasonal event that happens every year may be what finally pushes oil prices to rock bottom.

  • U.S. crude prices plummet Friday, 14 Aug 2015 | 10:00 AM ET
    U.S. crude prices plummet

    U.S. crude oil hits prices not seen since March of 2009.

  • *Lower yuan puts downward pressure on commodities- Goldman Sachs. LONDON, Aug 14- U.S. crude oil fell to its lowest in almost six-and-a-half years on Friday as huge stockpiles and refinery shutdowns added to concerns about global oversupply and slowing economies in Asia. U.S. crude was down 30 cents at $41.93 a barrel by 0945 GMT.

  • Aug 13- A judge on Thursday found that BP Plc manipulated the natural gas market as alleged by the U.S. energy regulator, but did not address a proposed $28 million fine against the UK oil major or any other penalties. The biggest penalties paid to date were JPMorgan Chase& Co's $285 million fine in 2013 and Constellation Energy's $135 million fine in 2012, both to...

  • Ouch! Gasoline prices are spiking in these states Thursday, 13 Aug 2015 | 2:35 PM ET
    A driver fills up his taxi in Chicago, Illinois. Gas prices jumped up 20 cents in Chicago. (file photo)

    While much of the U.S. is seeing cheap gas this summer, drivers in Chicago and across the Midwest are in for some real pain at the pump.

  • *Latest selloff triggered by big weekly build in Cushing. NEW YORK, Aug 13- U.S. oil prices tumbled more than 3 percent to a 6-1/ 2- year low under $42 a barrel on Thursday as data showing a big rise in key U.S. stockpiles intensified worries over a growing global glut. The largest of those refineries- BP PLC's 413,500- barrel per day facility in Whiting, Indiana, also the...

  • US crude ends down 2.5%, near 6-1/2 year low Thursday, 13 Aug 2015 | 2:01 PM ET

    US oil prices tumbled nearly 3 percent Thursday as data showed a big rise in key US stockpiles intensified worries over a growing global glut.