(SAMAD/AFP/Getty Images)

Oil jumps back above $40 per barrel in largest gain since 2009

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U.S. benchmark crude settled up $3.96 at $42.56 a barrel on the New York Mercantile Exchange. The 10.3 percent gain was the largest for U.S. oil since prices were rebounding from financial crisis of 2009.
(AP Photo/Patrick Semansky)

2 crew members injured after pipeline ruptures in Gulf

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The cause of the rupture is under investigation.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

Oil industry needs half a trillion dollars to endure price slump

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If oil stays at about $40 a barrel, the shakeout could be profound.
(AP Photo/Pat Sullivan, File)

Schlumberger to buy Cameron in multibillion-dollar deal

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The slump in oil prices over the past year has forced oil company cutbacks, hitting the services industry that caters to it.
Oil rose to $39.31 a barrel in New York Mercantile Exchange trading Tuesday, but remains at six-year lows. (Stephen Hilger/Bloomberg News)

Oil prices move higher, market mood stays low

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Domestic benchmark crude rose $1.07 to $39.31, but prices remain in territory not seen in six and a half years.
Categories: Crude oil, General
Cobalt International Energy used the Petroserv SSV Catarina Rig to drill the Lontra #1 discovery well off the coast of Angola.  (Cobalt International Energy)

Cobalt’s CFO resigns

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Cobalt International Energy, after the close of the market Tuesday, announced its chief financial officer is leaving “to pursue other interests.”
(Simon Dawson/Bloomberg)

Transocean will cancel dividend

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The most severe oil-industry collapse since the 1980s has prompted explorers to curtail drilling budgets, cancel rig contracts and shelve plans to search for untapped crude fields from the Indian Ocean to the Gulf of Mexico.
Republican presidential candidate, New Jersey Gov. Chris Christie gestures while speaking at a town hall meeting at Sayde's Neighborhood Bar & Grill in Salem, N.H., Monday, Aug. 24, 2015. (AP Photo/Cheryl Senter) )

Judge approves Christie’s $225 million settlement with Exxon Mobil

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The deal was criticized by environmental groups and Democrats who control the state Legislature. They say the settlement is just a fraction of the billions of dollars New Jersey should have recovered.
Oil wells in the Franja del Orinoco region of Venezuela (Houston Chronicle)

Encana selling Louisiana assets for $850 million

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The assets being sold include about 112,000 acres. Encana will use the proceeds from the sale to reduce debt.
(Jeff Pachoud/AFP/Getty Images)

BP restarts part of Indiana oil refinery after repairs

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BP issued a news release Tuesday saying it had safely restarted a large crude distillation unit at its refinery in Whiting, 15 miles southeast of Chicago, that had been shut down since Aug. 8 for unscheduled repair work.