Dec 28, 2011 Oil prices are down a bit this morning after a Saudi oil official said his country would pump more crude. That follows Iran's threat to block the Strait of Hormuz, where about one fifth of the world's oil passes through.
Dec 28, 2011 Iran's navy chief said today his country could very easily close the world's most important oil transit channel. The threat to close it comes after the West imposed more sanctions on Iran over its nuclear program.
Dec 28, 2011 Halting, or even dislocating, the flow of one-fifth of the world's oil supply could send the price of crude into the stratosphere. But the oil market doesn't appear to take the threat seriously.
Dec 14, 2011 The Organization of Petroleum Exporting Countries has agreed on an output limit, and it looks like gas prices will remain high for the time being.
Dec 14, 2011 The Organization of Petroleum Exporting Countries agreed this morning to maintain global production at about 30 million barrels of oil per day.
Dec 14, 2011 BP was the high bidder in 11 of them.
Dec 8, 2011 Jon Corzine heads to Congress today to answer for the collapse of brokerage firm MF Global. The European Union is looking to the International Monetary Fund for bailout help, and that could have ripple effects in the U.S. Reporter Sally Herships looks at what other businesses can gain from big-box storse like Costco and Walmart. And the countdown to a big European summit is nearing its end.
Dec 15, 2011 Hybrid cars win, coal loses as the world's largest energy company looks to 2040.
Nov 30, 2011 For the first time in 62 years, the U.S. will export more petroleum than it gets.