Category: Crude oil

UN: Oil search in Northern Somalia risks stoking tension

Two semi-autonomous areas of northern Somalia have largely avoided the violence that’s plagued the rest of the country for decades. Now oil exploration may change that, according to the United Nations.  More »

Oil gains on China export growth, solid US jobs

Crude gained $1.75 to close at $104.41 a barrel, the highest closing price since March 3.  More »

Moody’s: Oil and gas sector to grow through 2015

The independent exploration and production sector’s growth will continue into 2015 and only crude prices falling to $80 per barrel would slow it down, according to a new report from credit ratings agency Moody’s Investors Service.  More »

Lawmakers aim to limit emergency oil sales

The Obama administration could be facing new obstacles in its plan to establish a 1-million-barrel stockpile of gasoline in the Northeast.  More »

Hedge funds retreat from record crude wagers

Speculators cut bullish bets on U.S. crude oil from a record as inventories were close to a seasonal high following the Memorial Day weekend.  More »

History of gasoline and oil exports murky

As oil companies clamor to export crude, they may look to the government’s 1981 decision to green-light overseas gasoline sales for guidance. There’s just one problem: The government records underpinning that move are missing in action.  More »

Oil futures little changed after U.S. jobs report

A strengthening job market would be in important sign of recovery in the world’s biggest economy, which also translates into higher demand for energy.  More »

Posing a question: How do yoga revenues compare with Eagle Ford costs?

Oil companies will spend about $27 billion drilling wells in the Eagle Ford Shale this year, according to Houston energy research firm Wood Mackenzie.  More »

Minnesota oil spill of 1979 still aids in research

Today, the site attracts scientists from around the world who are collecting data from sensors that sample soil, water and air.  More »

Crude oil flat despite U.S. supply drop

Benchmark U.S. oil for July fell 2 cents to close at $102.64 a barrel.  More »

Exxon manager says work going well at Alaska’s Point Thomson

Alaska’s current healthy environment for investment is a reason to vote against repeal of an oil tax measure passed in 2013, an ExxonMobil official told the Fairbanks Chamber of Commerce on Tuesday.  More »

NY top court considers local bans on gas drilling

The cases being argued before the Court of Appeals involve bans in the small towns of Dryden and Middlefield in rural central New York.  More »