Oil workers in Brazil started a 5-day strike on Monday but state-run energy company Petrobras said it had already reversed most  of the production losses on its platforms.

Putting pressure on congressional Democrats to back more exploration for oil, President Bush on Monday lifted an executive ban on offshore drilling that has stood since his father was president.

Royal Dutch Shell has agreed to buy Alberta-based Duvernay Oil for around C$5.9 billion ($5.9 billion), as oil majors' boost investment in tight or hard to extract natural gas.

Venezuelan President Hugo Chavez said on Sunday oil prices could hit $300 per barrel if U.S. oil company Exxon Mobil again freezes Venezuelan assets in a dispute over a nationalized oil project.

It's summer in the United States, but many Americans are already fretting about winter.

Figuring out why states fared poorly in America’s Top States For Business 2008 takes a bit less work than determining why others did well.  It usually comes down to performance and scoring in three key categories, and they happen to be the three with the most impact on the weighting and the overall rankings. Here's the ten worst -- and why.

Figuring out why states fared poorly in America’s Top States For Business 2008 takes a bit less work than determining why others did well.  It usually comes down to performance and scoring in three key categories, and they happen to be the three with the most impact on the weighting and the overall rankings. Here's the ten worst -- and why.

Qatar Oil Minister Abdullah al-Attiyah said on Friday that he saw no demand for the additional crude that Saudi Arabia has pledged over the past few months to pump Saudi Arabia, the world's top exporter, has promised to step up production to its highest rate in three decades in an effort to tame oil prices, which have surged nearly 50 percent this year, hitting a record high $145.85 a barrel last week.

A key Brazilian oil workers' union threatened Thursday to shut down Petrobras oil fields in the Campos basin that produces over 80 percent of Brazil's oil for five days starting from Monday.

US Airways says it will start removing in-flight entertainment systems on domestic flights in November to save about $10 million annually in fuel and other costs.

World oil demand growth will slow slightly to 860,000 barrels per day (bpd) in 2009 to 87.7 million bpd, down from growth of 890,000 bpd this year, and the need for OPEC oil will also fall, the IEA said on Thursday.

Oil could face a "steep" fall if financial factors are removed from the current market, which gained around 40 percent this year, the chief economist at BP said on Thursday.

Welcome to our second annual look at America’s Top States for Business—a study that shows you can’t sit still if you want to stay competitive.  Our study rates the states on the very selling points they use to attract business -- 40 metrics in ten categories.

Rising commodity prices are threatening not only the United States but also economies from emerging nations across the globe, Pimco Co-CEO Mohamed El-Erian said on CNBC.

Crowding into commodities by investors fleeing stocks will contribute to increased volatility, Peter Toogood, chief investment officer at Crosby Forsyth, told "Squawk Box Europe" on Wednesday.