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.
July natural gas futures closed at $2.767 per million BTUs, the highest settlement price since January 11, 2012. Natural gas has been surging on forecasts for warmer-than-normal temperatures across the U.S.
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.
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.
Natural gas futures surged over 12 percent on Thursday, topping $2.46 per million British Thermal Units (BTUs), after an unexpectedly bullish storage report helped prices rally above key technical levels.
As U.S. and European markets have tumbled in the last month, oil prices have also posted double-digit declines, but the slide isn't helping consumers in the euro zone.
Traders say weak U.S. ISM services data and other poor economic data from Europe trumps positive U.S. manufacturing data earlier this week and is adding to the pressure on oil prices.
Palladium raced ahead of all other metals in April. After climbing double digits in the first quarter, platinum and silver futures were down 4 and 5 percent, respectively. Both metals lost ground for the second consecutive month. Copper prices were flat, and gold seems to have lost its luster, posting its third straight monthly decline.
Relative to the S&P 500, General Electric should give investors 'at least' double the return over the next two years, Jack De Gan, Harbor Advisory CIO told CNBC Friday.
Enterprise CEO gives Bertha Coombs an exclusive look into the construction of the company's new ECHO oil storage and transfer terminal in Houston, which provide a vital link between booming onland Shale oil production by major Gulf Coast refiners.
WTI oil futures have recovered earlier losses to climb to session highs over $104.74 a barrel, after positive data on the U.S. manufacturing sector and a flow of money into commodities at the start the new quarter.
The looming Iranian oil embargo has heightened the concern of risk to global oil supplies. Meanwhile, energy production in this country is booming.
Gas prices have pushed the economy into the early stages of demand destruction, said Richard Hastings, a consumer strategist at Global Hunter Securities. He said he expects to see a mild reduction in retail sales growth starting in May.
Weaker manufacturing data from China and the euro zone weighed on oil prices Thursday. The May 12 West Texas Intermediate futures contract dropped below key support of $104.88, which is the 50 percent retracement of the February rally that took the contract from $98.38 to $110.95.
It is the hot topic from the gas pump to Washington to the trading pits at the New York Mercantile Exchange: Will rising tensions with Iran push energy prices back above 2008 record levels this spring? Fund managers are apparently betting that they will.
Traders are bidding up natural gas prices after an executive from Chesapeake Energy spacer reiterated that low prices may force the company to significantly cut gas production.