Motorists refuel at a Mobil gas station in Pittsfield, Mass., where regular gasoline is for sale at $1.99 per gallon, Tuesday Sept. 29, 2015. (Ben Garver/The Berkshire Eagle via AP) BERKSHIRE COURIER OUT, GREAT BARRINGTON RECORD OUT, RURAL INTELLIGENCER OUT, BERKSHIRES OUT; MANDATORY CREDIT

Houston gas prices finally hit $2 a gallon

Greater Houston gasoline prices are ranging from as low as $1.75 a gallon to highs of $2.99 per gallon. The spiked prices are within the Houston loop at Shell stations at 2220 Main St. and at 319 Shepherd Drive, according to GasBuddy.
(AP Photo/HO, Shell)

Shell starts Nigeria offshore expansion of up to 50,000 barrels

Shell has a 55 percent stake in Bonga and operates what it says were the first deposits to be developed in Nigeria’s deep waters in 2005.

Contrasting signals in the crude market to start the week

To celebrate Kate Winslet’s 40th birthday, there is a titanic shift underway as markets rally strongly to start the week. Although Chinese markets are closed until Thursday, the rest of Asia has been rallying like a mad thing as we are back in the realm of ‘bad is good’. Rising expectations of further stimulus from […]
Categories: Crude oil
Diezani Alison-Madueke, Nigeria's former oil minister, at OPEC's Vienna headquarters on June 11, 2014. (AP Photo/Ronald Zak)

Nigeria’s former oil minister Alison-Madueke arrested in U.K.

Diezani Alison-Madueke, a former president of the Organization of Petroleum Exporting Countries, served as Nigerian oil minister for five years until her party lost elections in March.
The J. W. McLean offshore drill rig, operated by Transocean Ltd., stands anchored in the Cromarty Firth beyond the prow of the offshore pipelay vessel Deep Energy, operated by Technip SA, in Invergorgon, U.K., on Wednesday, Aug. 6, 2014. (Photographer: Simon Dawson/Bloomberg)

Rolls-Royce to cut 400 marine jobs as oil hits ship sales

The cuts announced Monday follow the elimination of 600 factory posts at the division announced in May, mostly focused on Norway, where Rolls-Royce’s marine manufacturing operations are based.
McDermott International has a $1.5 billion-plus contract with Saudia Arabia's national oil company. (AP file photo/John Moore)

Saudi Aramco cuts crude pricing to Asia, U.S. amid weak demand

Middle Eastern producers are competing increasingly with cargoes from Latin America, North Africa and Russia for buyers in Asia. Producers in the Persian Gulf region sell mostly under long-term contracts to refiners.
In this April 2010 file photo, oil can be seen in the Gulf of Mexico, more than 50 miles southeast of Venice on Louisiana's tip, as a large plume of smoke rises from fires on BP's Deepwater Horizon offshore oil rig. (AP Photo/Gerald Herbert, File)

BP settlement agreement announced in July to be filed Monday

A statement from the U.S. Justice Department has says the agreement involving the federal government, five gulf states and BP Exploration and Production will be filed Monday
The 29-week plunge in the oil rig count takes a break

Oil rebounds on largest rig count drop since April

This was the largest week-over-week decrease since April and brings the number of active oil rigs to 614. That’s below the previous low for 2015 set in May, according to the count by oil service firm Baker Hughes.
Workers at the Weatherford rod-pump manufacturing plant prepare to move parts into the plant Thursday, June 26, 2014, in Katy. (Brett Coomer/Houston Chronicle)

Jobs report: Thousands more oil and gas cuts in September

Overall, the mining industry has 104,700 fewer jobs now than at the same time in 2014.

Five factors influencing oil prices today

Ok folks, here are five factors to consider on this first Friday in October: 1) It is Nonfarm Friday, and official US employment data has just come out. It was terrible. Only 142,000 jobs were created, when 203,000 were expected. To add insult to injury, last month’s numbers saw a huge downward revision from 173k […]
Categories: Crude oil
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