Crude prices rise on promise of low interest rates

The Fed’s plan allows consumers and business to continue to borrow money cheaply in the U.S., which should help boost the economy of the world’s largest oil consumer.  More »

Conoco to pay $160 million for China oil spill claims

ConocoPhillips said Wednesday that it and China National Offshore Oil Corp. reached a $160 million agreement to settle compensation claims from oil spills off northeastern China.  More »

How an embargo of Iranian oil could affect markets

The U.S. and Europe are trying to stop Iran, the world’s third-biggest oil exporter, from selling crude. Iran’s response is to threaten to disrupt shipments from the entire Middle East.  More »

Natural gas price rebounding from 10-year low

The price of natural gas futures rose Tuesday for the third straight trading day, adding 3 cents to finish at $2.55 per 1,000 cubic feet.  More »

Brownsville port hopes to add natural gas terminal

The Port of Brownsville has approved a lease option for a liquid natural gas company that would bring hundreds of jobs to the area if its export terminal project makes it through a lengthy federal approval process.  More »

Chevron rig fire on 9th day off Nigeria’s coast

Chevron Corp. says it is still trying to extinguish a nine-day old fire that consumed the visible part of its rig off Nigeria’s coast and killed two foreign workers.  More »

BP denies Gulfport’s damages claim

BP has told the city of Gulfport, Miss., that it has no documents to support a claim for $11.8 million in compensation for community damages from the Deepwater Horizon oil-rig explosion and spill.  More »

Refiner Petroplus filing for insolvency

Swiss-based Petroplus Holdings, Europe’s largest independent oil refiner, said Tuesday that it is filing for insolvency after failing to reach an agreement with its lenders on its $1.75 billion credit line.  More »

Oil up with more threats from Iran

Monday also featured a sharp turnaround in natural gas prices.  More »

Fracking in Kan. pushes water permits to new high

While sections of Kansas dealt with drought in 2011, oil exploration companies pushed into the state to drill for oil and gas using horizontal hydraulic fracturing, a drilling method that relies on water.  More »

Senators: Raise bar for Wyo. frack study review

Ten Republican senators have asked the U.S. Environmental Protection Agency to subject a draft report that theorizes a link between hydraulic fracturing and groundwater pollution in a Wyoming gas field to a more rigorous level of scientific review than currently planned.  More »

EU set to adopt ban on importing Iranian oil

European Union nations agreed today on an oil embargo against Iran as part of sanctions meant to pressure the country to resume talks on its nuclear program.  More »

Report: OPEC wants to stay out of Iran-West spat

OPEC’s acting president said the producer group should stay out of political battles, Iran’s official IRNA news agency reported Sunday, an apparent bid by the bloc to steer clear of a potential showdown between Tehran and the U.S. over threats to close the vital Strait of Hormuz.  More »

Drilling advances prompt escalating fight in Colo.

New technology is putting oil and gas drills closer to populated areas than ever before — creating tension in Colorado over who regulates where drilling can and can’t be done.  More »

Lawmaker: Closing Strait of Hormuz is Iran’s right

A senior Iranian lawmaker says his country has the right to shutter the strategic Strait of Hormuz in retaliation for oil sanctions on Tehran.  More »