Oil has been falling steadily since it hit a 10-month closing high of $107.26 on June 20 as the Iraqi government has slowly re-established stability.
If the conflict in Iraq forced a third of the country’s oil production offline, it could thrust crude prices up $40 per barrel, a group of former military leaders and energy experts warned Tuesday. More »
Oil markets are taking the death of Venezuelan President Hugo Chavez in stride, with the price of crude little changed Wednesday. More »
The threshold level for drilling a profitable oil well in the South Texas oil and gas field is somewhere between $50 and $57 a barrel, a Baker Hughes executive said Wednesday. More »
Oil production in the United States has surged and use of petroleum products has fallen. In theory, those factors should have pushed the price of crude down. Instead, it’s gone up. More »
Texas drivers spent 7.3 percent of their income on gasoline in 2011, making them among the most vulnerable motorists nationwide to climbing fuel prices, according to a report issued Monday. More »
In my column last week about the Keystone XL Pipeline, I discussed how the price spread between West Texas Intermediate and Brent crude indicated the need for more pipeline capacity between the Midwest and the Gulf Coast. At the moment, Brent — which is basically the global price for oil — is about $113 a barrel. WTI is about $87.