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  • Oil Ends Up Above $136, Below Session High Wednesday, 9 Jul 2008 | 4:19 PM ET
    Oil Pump

    Oil prices regained ground and headed above $137, but still were below session highs, despite a larger-than-expected draw in crude inventories.

  • Oil Prices Settle Just Above $136 on Firmer Dollar Tuesday, 8 Jul 2008 | 3:29 PM ET

    Oil tumbled to near $136 on Tuesday as the dollar gained and concern eased over an Atlantic hurricane.

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    Oil dropped almost $4 a barrel on profit-taking and signals that Iran will be more flexible in negotiations over its nuclear program.

  • Oil Falls to $144, Within Sight of Record High Friday, 4 Jul 2008 | 1:36 PM ET

    Oil dropped below $145 a barrel on Friday, but was still within sight of record highs reached in the previous session when traders bought into the market ahead of a holiday weekend in the United States.

  • Oil Prices Settle at Record High Above $145 Thursday, 3 Jul 2008 | 3:05 PM ET

    Oil futures closed trading on the New York Mercantile Exchange at a record above $145 a barrel, setting their third all-time high in as many consecutive days.

  • Oil Prices Settle Above $143 for First Time Ever Wednesday, 2 Jul 2008 | 4:07 PM ET

    Oil prices hit another record settling price Wednesday, and then followed up on their close by reaching a record high over $144 a barrel in post-settlement trade, as a drop in U.S. crude inventories stoked supply concerns.

  • Sumitomo Consortium Wins $6 Billion Saudi Project Tuesday, 1 Jul 2008 | 10:24 PM ET

    Sumitomo Corp, Japan's third-biggest trading house, said on Wednesday its consortium had won preferential rights to build and operate a $6 billion power and water desalination plant in Saudi Arabia.

  • Oil Closes Near $141 on Supply Worries, Iran Tension Tuesday, 1 Jul 2008 | 3:39 PM ET

    Oil prices rose on Tuesday on forecasts that global supplies will struggle to keep pace with demand and concerns that tensions between Israel and Iran could lead to a disruption of exports from the OPEC nation.

  • More Oil Will Not Bring Price Down: Saudi King Tuesday, 1 Jul 2008 | 3:15 AM ET

    Oil prices would not ease even if production were raised because speculation and taxes are behind the soaring market, Saudi Arabia's King Abdullah was quoted as saying in a Kuwaiti newspaper on Tuesday.

  • Wilbur Ross: Run-Up in Oil Prices Is a Bubble Monday, 30 Jun 2008 | 5:05 PM ET

    The dramatic rise in oil prices is a bubble, famous turnaround investor Wilbur Ross told CNBC Monday, adding that there is no apparent supply problem with crude.

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    Oil slipped off a record high of more than $143 a barrel as weak U.S. demand countered mounting tensions between OPEC nation Iran and Israel.

  • Oil Hits Record Above $140 on Weakening Dollar Friday, 27 Jun 2008 | 3:19 PM ET
    Oil Refinery in California

    Oil futures climbed to a new record near $143 a barrel Friday as the dollar weakened against the euro, confirming expectations that the falling greenback, a major factor in crude's stratospheric rise, will extend its decline and add to oil's appeal.

  • Oil Prices Close at Record $139.64 on OPEC Warning Thursday, 26 Jun 2008 | 3:13 PM ET

    Oil futures shot above $140 Thursday after OPEC's president said oil prices could rise well above $150 a barrel this year and Libya said it may cut oil production.

  • Oil Closes Below $135 on Supply Boost, Weak Demand Wednesday, 25 Jun 2008 | 3:43 PM ET

    Oil fell more than $2 on Wednesday after U.S. weekly data showed crude inventories in the world's top consumer rising as high fuel prices continued to erode demand.

  • Oil Prices Seesaw, Close at $137 on Supply Worries Tuesday, 24 Jun 2008 | 3:41 PM ET

    U.S. crude oil futures edged up on, seesawing on reports of shut Nigerian output being restored and the threat of a strike shutting other output.

  • EADS Near $1 Billion Saudi-Iraq Border Deal Tuesday, 24 Jun 2008 | 7:06 AM ET

    A consortium led by European aerospace group EADS is favorite to win a $1 billion contract to build a border fence shielding Saudi Arabia from Iraq, executives at the Saudi business partner said.

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    Oil rose as Nigerian supply disruptions and escalating tensions between Israel and Iran outweighed Saudi Arabia's pledge to raise output and keep markets well-supplied.

  • Saudi Oil Production Capacity Increasing: Official Saturday, 21 Jun 2008 | 8:26 AM ET
    Oil Pump

    The Saudis will increase oil production capacity gradually over the next year, a senior advisor to the Minister of Petroleum told CNBC's Melissa Francis in an exclusive interview.

  • Saudi and China Make Biggest Impact On Oil Friday, 20 Jun 2008 | 4:35 PM ET
    Saudi Arabia

    Washington has been talking tough on oil prices on several fronts, calling for new trading regulations on speculators and reopening offshore oil drilling. But it's successful jawboning two of our major allies that seems to have had the biggest impact on prices this week.

  • Oil Friday, 20 Jun 2008 | 3:54 PM ET

    The record run-up in oil prices over recent years is igniting fierce debate over the "peak oil" theory — that once the maximum rate of global production is reached, a steep decline ensues.   Here we present two squarely opposed viewpoints on the issues from rivals who have been sparring for years.