Oil in Spotlight
Oil falls below $66 after bleak U.S. jobs data
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
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
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
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
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
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
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
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
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
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 |
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
- percent
Click tabs to see the impact hurricanes Gustav and Ike have had on the total percentage of U.S. output of crude oil, natural gas, and refining production since Gustav swept into the Gulf of Mexico in late August.
- percent
Click tabs to see the impact hurricanes Gustav and Ike have had on the total percentage of U.S. output of crude oil, natural gas, and refining production since Gustav swept into the Gulf of Mexico in late August.
Pictures
Life on an oil platform
Chevron's Petronius oil platform produces 27,000 barrels of oil and 28 million cubic feet of gas per day. Slideshow


