Oil in Spotlight

Oil falls below $66 after bleak U.S. jobs data Friday, 3 Jul 2009 01:42pm EDT

LONDON (Reuters) - Oil dropped a dollar to below $66 a barrel on Friday after unemployment data hardened views economic weakness would sap energy demand and that last month's rally was overdone. Full Article

Commentary & Analysis

Venezuela's President Hugo Chavez welcomes his Bolivian counterpart Evo Morales (R) to the Alba Summit at the airport in Cumana April 16, 2009. REUTERS/Miraflores Palace/Handout

Chavez eyes oil nationalizations

President Hugo Chavez has already nationalized most of Venezuela's energy industry, but he may still target firms running gas and oil services. Full Article

Supporters of the Iranian President and Iran's upcoming presidential election candidate Mahmoud Ahmadinejad hold-up a campaign poster and Iran flag during an election rally in front of the University of Tehran, June 3, 2009. REUTERS/Morteza Nikoubazl

Big oil watches Iran vote

Iran's presidential election on June 12 may mark a small step toward the return of big oil's cash to the country's energy sector. Full Article

A motorist holds a fuel pump at a Gulf gas station in London, England, April 18, 2006. REUTERS/Luke MacGregor

OECD oil stocks seen dropping

The International Energy Agency expects OECD oil stocks to fall to 57 days by year-end from the current 63 days, if OPEC's production continues at current levels, along with the recovery in demand. Full Article

China's President Hu Jintao (R) greets Iran's President Mahmoud Ahmadinejad at the Great Hall of the People in Beijing September 6, 2008. Ahmadinejad is in China for talks and to attend the opening ceremony of the Beijing 2008 Paralympic Games. REUTERS/Guang Niu/Pool

Iran's China oil outfit battles to boost exports

National Iranian Oil Company has set up its first Beijing office to push for crude sales in China, but Iran will have a tough job boosting volumes sharply in the absence of a refinery. Full Article

James Prokupek (L), an engineering department process design manager for the Valero St. Charles Oil Refiner, is seen in silhouette during a tour of the refinery in Norco, Louisiana, August 15, 2008. REUTERS/Shannon Stapleton

Heavy oil refiners face reckoning

Heavy, sour crude is surging in value and punishing U.S. refiners that spent billions of dollars on machinery to process tarry oil. Full Article

Kitesurfers surf as the Burj Al Arab, Dubai's 7-star luxury hotel, is seen April 12, 2009. REUTERS/Steve Crisp

Fuel traders put faith in UAE

The UAE is on its way to becoming the world's fourth major fuel trading hub, making the region as important a swing factor in gasoline and diesel markets as it has long been for crude. Full Article

Heavy traffic flows eastbound away from Mississippi and New Orleans on Interstate-10 in Mobile, Alabama, August 31, 2008. REUTERS/Dave Martin

Belated gas move drives oil

Investors have been slow to make their seasonal move into gasoline ahead of the U.S. driving season, but now have helped to push oil to six-month highs and are likely to keep providing price support. Full Article

A mooring station for oil tankers can be seen at the Trans-Alaska Pipeline Marine Terminal in Valdez, Alaska on August 8, 2008. REUTERS/Lucas Jackson

Shippers hedge on crude rise

Shippers hastened their fuel hedging since early April as oil's recent rally worried end users that the price of already tightening marine fuel supply will move further against them. Full Article

Airplanes are seen at LaGuardia Airport in New York, August 26, 2008. REUTERS/Chip East

Oil rally may draw hedge rush

A nearly 70 percent run up in oil prices since February may trigger hedging by big energy consumer industries, seeking to protect against a further cost hike. Full Article |

A worker checks a pipeline in the Balongan refinery belonging to Indonesia's state oil firm Pertamina in Indramayu, in West Java province March 5, 2009. REUTERS/Dadang Tri

Losing out to oil contango

Investors race to establish long positions ahead of an expected recovery in oil prices in the second half of 2009. But prices risk getting ahead of reality. Commentary