U.S. gasoline futures on the New York Mercantile Exchange were up 3.5 percent at $1.35 a gallon at 10:28 a.m. EST, outpacing both the U.S. crude and the global crude benchmark. The physical gasoline market in the New York Harbor has been tight for weeks, as imports into the East Coast have been near record lows for three consecutive weeks, according to weekly data...» Read More
Saudi Arabia has offered its main customers in the US, Europe and Asia extra oil supplies through the end of the year, a sign the world’s largest exporter is worried about the impact of rising prices on the global economy. The FT reports.
The US Department of Justice intends to prove at trial that gross negligence or willful misconduct by BP caused the 2010 Deepwater Horizon disaster in the Gulf of Mexico, government lawyers have said, in the clearest statement yet that they are seeking the maximum possible penalties from the British oil group. The FT reports.
The Romney camp just released its energy plan, which gives individual states greater control over their energy wealth. Dan Weiss, Center for American Progress, and Sterling Burnett, National Center for Policy Analysis, discuss.
Russia’s entry into the World Trade Organisation (WTO) is good news but investors shouldn’t expect miracles straight away, Murat Ulgen, chief economist for Central & Eastern Europe and Sub-Saharan Africa at HSBC, told CNBC.
Energy investors remain bullish on ExxonMobil, even though the outlook for oil prices remain uncertain, two analysts told CNBC.
Thomas Hilboldt, Head of Oil, Gas & Petrochemicals Research, Asia-Pacific at HSBC said he wants to see a more meaningful change to China's energy pricing system.
Of all the major oil-producing countries in the world, only four are showing a long-term decline in production capacity by 2020. Factors like the recent showdown with Iran over its nuclear program are more influential, according to a Harvard University report.
Four and a half years of studies and five failed votes in the House of Representatives later, the massive Canadian-US pipeline is stuck at the Canadian border. And that won't change anytime soon.
The DOE's Energy Information Administration expects the cartel's share to remain at the current 40 percent, while US domestic output rises.
Airlines, trucking companies and other big energy consumers are betting on further oil price falls, with many reluctant to lock in at current levels amid fears prices could plunge if the global economy weakens further. The FT reports.
A new report shows sizable amounts of recoverable oil and natural as around the scenic island chain, but its location in the hurricane belt is already raising concerns about potential environmental damage.
Russia's prospects are brighter than those of many other economies, despite fears that the return of Vladimir Putin to the presidency will slow the pace of structural reforms and falling oil prices could hurt its budget.
The natural gas industry may be hurting from rock-bottom prices now but if allowed to fully exploit the shale-gas boom, there may be few losers and many winners in the years to come.
Michael Bagley, president of corporate intelligence firm Jellyfish Operations, and security expert Jennifer Giroux discuss how companies can plan and react in hostile environments.
Though Turkey was one of several countries to receive a temporary waiver from U.S. sanctions, it is looking to Saudi Arabia and Libya for crude oil, as well as a number of other energy sources.
Disgruntled tribesman seeking more economic development are also responsible for violence against the oil industry.
Learn why the price of gas has not followed the substantial drop in oil prices.
Mad Money's Jim Cramer weighs in on whether opportunities still exist for investors now that ConocoPhillips and Phillips 66 are two separate companies.
CNBC's Kate Kelly reports Delta Air Lines has worked a deal with JPMorgan.
Delays to the restart of Japan's nuclear power reactors may mean the country's already 'elevated' fossil fuel consumption could rise further this summer, Deutsche Bank said in a report.