Oil

Oil deposits off the coast of Cuba could be worth hundreds of billions of dollars. But it will be years before the oil gets to market.

The U.S. treasury secretary wants China to impose sanctions, but may find the Chinese — big buyers of Iranian oil — in no hurry to make up their minds.

Key on the agenda: Getting Japan and China to support Iran oil sanctions.

Chrysler announced plans to add 1,100 of them at its assembly plant in Detroit. The new workers will build a diesel version of the Jeep Cherokee. It's the latest of many U.S. automaker announcements for diesel cars and trucks.

European officials are meeting in Brussels today to discuss an oil embargo against Iran in reaction to the country's nuclear program.

European officials meeting in Brussels today have reportedly agreed to an Iranian oil embargo. It's the latest move by the west to punish Iran for its nuclear ambitions.

The European Union has threatened to embargo oil from Iran. Iran snapped back, saying if that happens, it won't let any oil ships pass through the Strait of Hormuz. How might this affect Europe and the U.S.?

Sinopec will spend billions of dollars on a partnership to drill for natural gas in Ohio. The company is hoping to gain the needed expertise to grow the fracking industry in China.

Now that U.S. troops have pulled out Iraq, turns out direct benefit for American oil companies never materialized.