News

Brazil to Perform Initial Oil Exploration Bid

Brazil will hold an initial auction of its oil exploration acreage in October.

Oil Prices Move Lower

The current price of oil moved lower before the release of the economic data from China and the U.S.

Drivers Seeing Cheapest Gasoline Prices Today Since 2008

Drivers in the U.S. are currently looking at cheaper prices of gasoline since 2008.

Oil Prices Fall Close to $96

The price of oil fell to nearly $96 after U.S. crude supply report and China’s inflation data.

Venezuela to Revoke Contracts of Underperforming Oil Firms

Venezuela’s oil minister urge partner oil firms to boost oil production but warns of contract revocation if desired levels are not achieved.

Current Oil Price Declines on Employment Data

The current price of oil declines as excitement over last week’s strong employment report in the U.S. fades.

Current Oil Price Dropped Slightly to $95

The current price of oil falls close to $94 after Japan released a weak manufacturing report and on expected U.S. crude inventory increases.

Nigerian Community Appeals to UN Over Dangerous Oil Exploration

The Nembe Kingdom in Nigeria appeals to the United Nations regarding the dangerous oil exploration performed in its community by Shell.

High Supply to Bring Down Oil Prices to $80 in the Coming Years

High supply due to increased production in the U.S., Canada and Iraq is expected to pull current oil prices down to $80 in the coming years.

Alaskan Oil Bill Prompts Conoco to Up Capital Investments

Alaska expects more oil investments with new tax bill. Oil Firms embrace tax incentives but critics say the state stands to lose billions.

Oil Prices Unlikely to Drop Lower than $100 says Iranian Oil Minister

The oil minister of Iran said that it is unlikely for the current price of oil to fall lower than $100 per barrel

Turkey Calls Foreign Firms to Participate in Black Sea Oil Exploration

Turkey seeks foreign oil companies to explore oil at the Black Sea

Current Gasoline Prices in the U.S. are Falling

The current gasoline prices in the United States are falling with rising refinery output and lower crude oil prices.

March Ends with Lower Gasoline Prices in NY

The nationwide prices of gasoline end March at a lower level compared to where it started, a feat last witnessed ten years ago.

$100 per Barrel Crude Price Considered Reasonable and Fair

Saudi Arabia’s oil minister considers $100 per barrel crude price reasonable while Kuwait’s oil minister considers it fair.

Current Gasoline Prices Slightly Lower in Majority of the U.S.

Gasoline prices are lower in most parts of the country but are still higher considering oil prices are way below its level last year during the same period.

Congress Warns Further Increase in Current Gasoline Prices

Congress warns a possible increase in the current prices of gasoline because of the EPA mandate for use of renewable energy.

Current Oil Prices Move in Different Directions

The current prices of oil are mixed as Brent prices decline and WTI prices move up.

Current Oil Prices Increase with Rising Stock Markets

The current prices of oil increase with the rise in the stock markets.

Current Oil Prices Gain over $1

The price of oil gains more than one dollar to reach above $94 per barrel.

Current Oil Prices Rise after New US Sanctions versus Iran

Current oil prices increased after the U.S. imposed new sanctions on Iran.

Current Oil Prices Rebound Near $97

The current price of oil rebounds close to $97 on increasing stock markets in Europe.

Iraq Signs New Oil Exploration Deal

Iraq signs a new oil exploration deal with Kuwait Energy and Dragon Oil.

Current Oil Prices Lower in Asian Trade

Current prices of oil in Asian trading are lower with investors locking in profits from recent gains.

Thailand Oil Company Plans Oil and Gas Exploration in Burma

PTTEP of Thailand is planning to pursue huge oil investments for exploration in Burma and other nations abroad.

Key Predictions Shaping Markets in 2013

Blackstone Advisory Partners came up with a list of forecasts that could have significant impact on markets this year.

Oil Price Drops as Supply Outweighed Rising Demand Expectations

Current oil prices dropped on reports of rising crude supplies outweighed expectations of increasing demand this year.

Current Oil Prices Fell Slightly with Prediction of US Crude Supply Rise

The current oil prices fall slightly as analysts predict a rise in U.S. crude supplies.

Domestic Production Boom to have Minor Impact on Current Oil Prices

The U.S. energy production boom can lead to a slight effect on prices of global fuel this year according to experts.

Current Gasoline Prices Rise as 2012 Comes to an End

Current gas prices increase as the year comes to an end and as fiscal cliff negotiations are still unknown.