(Photo by Joe Raedle/Getty Images)

Turmoil in Iraq is pushing up US gasoline prices

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Violence in Iraq is pushing U.S. gasoline prices higher, depriving drivers of the usual price break between Memorial Day and July Fourth.
IRAQ-UNREST

Report: Two major oil companies evacuating Iraq

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ExxonMobil officials are not commenting on reports that the company has evacuated from Iraq amid growing instability brought on by militants.
Categories: Middle East, Production
(Photo: Fotolia)

Oil price creeps toward danger point for global economy

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A spike in the price of crude historically has foreshadowed economic slumps and economists are worrying anew after the price touched its highest in nine months, above $113 a barrel, amid fresh violence in Iraq,
An abandoned watchtower and lines of barbed wire are seen surrounding Iraq's largest oil refinery as smoke rises from a petroleum gas flare, in the city of Beiji, north of Baghdad. (AP Photo/Ivan Sekretarev, File)

Insurgents capture largest Iraq oil refinery

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Abhishek Deshpande, oil markets analyst at Natixis, discusses the capture of Iraq’s largest oil refinery by ISIL insurgents and how it impacts oil production in Iraq and the global oil market.
Yellow oil barrels

Oil prices slip as U.S. deploys small force to Iraq

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Benchmark U.S crude for July delivery dropped 54 cents to $106.36 a barrel on the New York Mercantile Exchange.
(Image: Fotolia)

IEA: Unconventional oil revolution to spread beyond North America by 2019

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The surge in oil and production from unconventional sources will likely spread beyond North America by the end of the decade, according to a study published Tuesday by the International Energy Agency.
pipes

In Case of Emergency

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Last month, the Department of Energy announced its plans to build a gasoline storage reserve in the Northeast. Widespread shortages caused by massive super storm Sandy sparked plans to mitigate future risks in affected Northeastern states. The gasoline reserve will hold nearly one million gallons of gasoline, providing power to first responders and generators. The […]
This image made from video shows Kurdish Peshmerga security forces fighting militants from the al-Qaida inspired Islamic State of Iraq and the Levant (ISIL) in Tel Al Wared, 20 kilometers west of Kirkuk, Iraq on Saturday, June 14, 2014.  (AP Photo via AP video)

Iraq turmoil feeds calls for Keystone XL and crude exports

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Unrest in Iraq helps make the case that U.S. regulators should authorize crude exports as well as the controversial Keystone XL pipeline, the head of the oil industry’s leading trade group said Monday.
A masked Pershmerga fighter from Iraq's autonomous Kurdish region guards a temporary camp set up to shelter Iraqis fleeing violence in the northern Nineveh province. (AFP PHOTO/SAFIN HAMEDSAFIN HAMED/AFP/Getty Images)

Crude-export shutdown in Iraq unlikely, analysts say

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International crude prices climbed to their highest point in 10 months on fears that sectarian violence in Iraq will spill into the south and cut off crude exports from the port at Basra, but that’s a highly unlikely scenario, experts said Friday.
Ali al-Naimi, Saudi Arabia’s minister of petroleum. (Joe Klamar/AFP/Getty Images)

Saudi oil minister’s good times will last as lost output lifts prices

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Saudi Arabia is showing satisfaction with oil prices at a time when OPEC’s collective influence seems diminished.