crude oil

Oil Prices Are Likely to Drop Before They Rally Again

With an oversupply of oil on the market and OPEC afraid that higher prices will impair the U.S. recovery and sap demand, the fundamentals point to an oil price drop in the near term. Yes, markets move on emotion, and fears about unrest in Egypt have reversed that downward price trend, but the drop is probably coming.

How to Cope With Rising Gasoline Prices

The U.S. started 2011 with the highest gas prices ever for January. That doesn't bode well for the coming months, but the sky isn't falling. Here's what you can do about those higher fuel costs, including how to make investments that will profit from them.

Oil Prices Gush to Two-Year High

Oil prices touched a two-year high Monday on tighter inventory and expectations that a U.S. economic growth spurt will boost demand this year. Some analysts predict prices could soon gush to $100 per barrel.

Gasoline: $3 by Christmas and Worse in Spring?

The U.S. has never had $3-a-gallon gas at Christmastime, reflecting the fact that gas prices typically get lower as the days grow shorter. This year may be quite different, thanks to events from Canada to China. And some analysts think prices will really heat up in spring.

Dow Dives 178 Points on Fears China May Hike Rates

The Dow tumbled Tuesday 178 points, or 1.6%, to close at 11,024 as part of a global sell-off in stocks fueled by further speculation that China will hike interest rates to fight inflation and renewed worries over the wobbly finances of Ireland, Portugal and Greece.

OPEC to Leave Oil Output Unchanged

The Organization of the Petroleum Exporting Countries will leave oil output unchanged, a delegate at the group's current meeting told Reuters. Oil ministers apparently are not worried the weak dollar will drive up the price of crude far enough that it will crimp the global economic recovery.

Oil Pushes Above $83

Crude oil prices moved above $83 Monday -- from just above $70 only two months ago. There are a number of causes for the increased price of crude, among them the growth in demand for oil in China.

BP Will Join Other Oil Giants in Spill Response Group

BP (BP) will join an oil spill response group formed by fellow oil giants Exxon Mobil (XOM), ConocoPhillips (COP), Chevron (CVX) and Royal Dutch Shell (RDS.A). BP will make its underwater well containment equipment and personnel available to the group, called the Marine Well Containment Co., The Washington Post said.

Enbridge Says It Recovered Most of the Oil From Damaged Pipe

The 34-inch pipe in Romeoville, Ill., 30 miles southwest of Chicago, is still shut, with no indication of when it will reopen. Enbridge said it collected about 6,050 of the 6,100 barrels that leaked. The 34-inch pipe in Romeoville, Illinois, 30 miles southwest of Chicago, is still shut, with no indication of when it will re-open, Bloomberg News reported. The company said it collected about 6,050 of the 6,100 barrels that leaked.

Winter Prediction: Extra Cold, But with Low Oil Prices

The mid-Atlantic region, hard hit last winter, will catch a break from the weather next time, says the Farmer's Almanac, but much of the rest of the U.S. will be colder than normal, New England in particular. For those who heat their homes with oil, however, lower prices should ease the season.

Chevron Earnings Triple on Higher Oil Prices

Chevron's second-quarter earnings easily topped forecasts, but revenue came in lower than analysts expected. It recorded net income of $5.41 billion, or $2.70 a share, up from $1.75 billion, or 87 cents, in last year's second quarter.

Bad Weather Brings BP Gulf Operations to Near Standstill

Authorities suspended operations around the ruptured oil well in the Gulf of Mexico and prepared to evacuate workers as a tropical storm threatened to enter the area. Bad weather in the Caribbean will likely enter the Gulf this weekend, and there is a 40% chance of it becoming a tropical depression or tropical storm by Friday, the Associated Press reported. Efforts to plug the ruptured oil well were brought to a near standstill.

Downstream Operations to Boost Chevron's Second Quarter

Chevron Corporation (CVX) said that second-quarter results should be higher than in the first quarter, boosted by improvements in downstream results. Refining margins for U.S. West Coast crude was $16.30 a barrel in the second quarter through June, compared with $13.04 in the first quarter, the company said in a statement. Downstream results also benefited from the strengthening dollar.

China Lubricates Its Ties With Venezuela

China will provide Venezuela with $20 billion in long-term financing, much of it to help the South American nation develop crude oil reserves. It's another example of how the People's Republic is soaking up energy supplies all around the globe.

With Oil Up 25%, the Recovery Could Falter

With crude oil prices sloshing around near $85 a barrel, a new reality may be setting in that could threaten the recoveries of the world's major economies, according to the International Energy Agency. Crude oil futures hit 18-month highs in April as expectations rose for stronger demand.

Gas Soon Headed Above $3 per Gallon

Expect gas prices to continue to rise above $3.00 per gallon into the spring and summer seasons say analysts as demand increases with warming temperatures and an improving global economy.

Oil Prices May Drop in 2010, But No Break for Motorists

Oil prices are showing signs of moderating, with a barrel of crude now worth about half of its all-time of $147 a barrel in 2008. But U.S. motorists may not benefit much at the pump. Refiners are expected to restore their margins that got squeezed during the recession.

Oil futures surge again

There appears to be no stopping the advance in crude oil prices. Fueled by expectations that an economic recovery will be more rapid than anticipated...

Oil passes $75 on its way up

Oil traded on Globex moved to $75.15 overnight Tuesday. Part of the reason is that OPEC said it expected demand to rise next year -- up by 200,000...