(AP Photo/Hasan Jamali, File)

IEA: Global oil demand rising fastest in five years

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Iran added 50,000 barrels a day last month, an early increase following a deal with Western powers that is expected to lift oil-export sanctions against the country in coming months.
In this Thursday, Jan. 28, 2010 file photo, A worker walks past tanks at a Petrochina storage base in Suining, in southwest China's Sichuan province. (AP Photo)

Despite currency collapse, China continuing to hoard crude

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As a glut dragged down benchmark oil prices over the past year, China sought to take advantage of the slump and build a strategic petroleum reserve to stock emergency supplies.
(AP Photo/Nabil al-Jurani, File)

Iraq’s oil output climbs to record despite fighting

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Iraq needs to keep increasing oil production because lower oil prices have curbed government revenue at a time when Islamic State militants captured parts of Iraq’s north last year.
In this June 15, 2014 file photo, a polar bear dries off after taking a swim in the Chukchi Sea in Alaska. (Brian Battaile/U.S. Geological Survey via AP, File)

Federal appeals court hears arguments on polar bear habitat

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Polar bears, a marine mammal, were declared a threatened species in 2008 under former President George W. Bush because of diminishing sea ice brought on by global climate warming.
(AP Photo/Gregory Bull, File)

EIA cuts 2016 oil price forecast as crude trades below 6-year low

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Crude oil has retreated through much of July and August after reaching 2015 highs of more than $60 per barrel earlier in the summer.
Photographer: Andrey Rudakov/Bloomberg

Commentary: A Potential Turning Point in Commodities?

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Part of life is accepting your shortcomings, and trying to move beyond them. For example, I have had to come to terms with the fact I will never be able to dunk, or write ‘citizen’ without questioning its spelling. (Every single time). When it comes to trading, there is a limitation known as cognitive dissonance, […]
The Clovelly storage hub of the Louisiana Offshore Oil Port system (Bloomberg)

Louisiana Offshore Oil Port storage center getting bigger

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The hub receives domestic and international crude via ships and pipelines, temporarily storing the oil before sending it on to U.S. refineries. The Clovelly Hub receives oil from wells in Texas, the Gulf of Mexico and the U.S. mid-continent.
Irene Nafuna Muloni, Uganda's minister of energy and mineral development, speaks at the IHS CERAWeek conference in Houston on March 4, 2014. (Mayra Beltran/Houston Chronicle)

Uganda lists 16 firms eligible to bid for oil exploration

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Uganda’s first oil licensing round is being watched by activists who hope the oil blocks will eventually go to firms with strong social and environmental track records.
Pudong, the new financial center of Shanghai, China, is seen at night, May 6, 2002. (AP Photo/Eugene Hoshiko).

OPEC: Expect slow Chinese growth next year amid yuan devaluation

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In its monthly oil market report on Tuesday, the 12-member Organization of Petroleum Exporting Countries said China’s economy, the world’s second-largest consumer of oil, is estimated to grow 6.5 percent next year, lower than this year’s 6.9 percent growth.
(Brian van der Brug/Los Angeles Times/MCT)

Raymond James lowers oil forecast for 2016

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Analysts at Raymond James said that they had cut their U.S. benchmark crude oil forecast to $50 per barrel in 2015 and lowered their 2016 projection by $10 per barrel to an only slightly higher $55 per barrel.