The Saudi's investment in a Texas refinery's expansion is meant to ensure that it will retain an important market for its crude in the United States at a time when American politicians intend to wean the country off imported oil, The New York Times reports.
CNBC's Bertha Coombs discusses the day's activity in the commodities markets. Moves by the Bank of Japan sent the dollar higher and oil lower, but nat gas inventory draw downs pushed natural gas higher.
The rally in risk markets has left oil in the dust, a function of how growing U.S. energy supplies and fears about global demand are throwing cold water on crude prices.
BP has put its U.S. wind farm operation, one of the largest in the country, up for sale, marking the continued retreat of big oil companies from renewable energy investments.
Crude oil prices fell after an increase in new U.S. claims for unemployment benefits reinforced concerns about sputtering economic growth in the world's top oil consumer.
U.S. oil prices posted the biggest one-day slide of the year in the midst of a broad commodities sell off. Natural gas prices also declined ahead of data on U.S. storage levels, due out tomorrow. CNBC's Sharon Epperson on what traders will be watching in the coming session.
Brent crude oil dropped below $110 a barrel as oil stockpiles swelled in top oil consumer the United States, where a struggling economy is limiting demand for fuel.
Can unlocking abundant supplies of domestic energy create millions of new manufacturing jobs? The truth may fall short of this promise, the New York Times reports.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets. The national average price of regular gasoline was $3.63/gallon Monday, according to AAA. That's 13 cents lower than the average price on March 1 and 30 cents cheaper than April 1, 2012.
Tesla Motors said it expects to report a first-quarter profit on both a net and adjusted basis following stronger-than-expected sales of its Model S sedan, sending its shares up nearly.