U.S. marshals won’t seize oil at the center of an ownership dispute unless smaller vessels transfer the oil from a tanker in the Gulf of Mexico and carry it closer to U.S. shores. More »
A federal judge ordered U.S. Marshals to seize any crude offloaded from an oil tanker anchored off the Galveston coast carrying 1 million barrels of Kurdish crude. More »
U.S. benchmark crude fell 17 cents to $104.42 a barrel. More »
Kurdish security forces took over two major oil fields outside the disputed northern city of Kirkuk before dawn Friday and said they would use some of the production for domestic purposes, escalating a dispute the central government of Prime Minister Nouri al-Maliki. More »
Global oil demand will rise at the fastest pace in five years in 2015 as China leads gains in emerging economies, the International Energy Agency said. More »
Oil has been falling steadily since it hit a 10-month closing high of $107.26 on June 20 as the Iraqi government has slowly re-established stability.
Sectarian violence in Iraq probably won’t affect credit ratings of major oil companies operating there, Moody’s Investors Services predicts. More »
U.S. crude for August delivery fell 53 cents to close at $103.53 a barrel.
In this village nestled in the arid hills of rural Iran, government-subsidized solar panels on the rooftops of homes provide both needed electricity and a shining symbol of efforts by the Islamic Republic to wean itself off fossil fuels and nuclear power. More »
Delek Drilling said it is negotiating a deal to provide seven billion cubic meters of natural gas from the offshore Leviathan gas field to British company BG’s plant in Idku, Egypt, through an underwater pipeline annually for 15 years. More »
Sunni militants launched a dawn raid Wednesday on a key Iraqi oil refinery they have been trying to take for days but were repelled by security forces, a commander on the scene said. More »
The turmoil in Iraq has thrown the OPEC member’s ambitious plans to boost oil production into doubt, threatening to crimp its most vital economic lifeline. More »