Oil

The BBC's Andrew Walker explains how the recent slump in commodity prices reflects slow economic growth.

Commodity prices have fallen sharply after disappointing economic news on jobs and growth in the U.S. Without consumer demand, the commodity prices would continue to fall.

Crude oil futures have slipped to $109 a barrel after government reports point to a slowdown in the economic recovery.

Drivers groan when gas prices rise. But what are the actual effects, in comparison to our perceptions?

Today, Exxon Mobile is reporting first quarter earnings close to $11 billion. But that's no surprise due to the cost of gas, both in the U.S. and in Europe.

So did Shell. It's all got politicians teeing up evil-oil rhetoric, except they are leaving one thing behind: the facts.

Or so President Obama thinks. He wants Congress to end oil and gas tax breaks, figuring the industry is doing very well. But some quarterly profits are falling flat.

The White House is blaming "speculators" for high gas prices; the "speculators" say the Fed is to blame because quantitative easing put the dollar in the dumps, making commodities more attractive to investors.

Jill Schlesinger, editor at large for CBS/MoneyWatch, examines oil speculation and the oil markets — and how they impact gas prices.

A year after the BP oil spill, things are looking up in New Orleans. But for Lafourche Parish on the Gulf Coast, it's a different story.