NEW YORK It does not take much of a wobble in the oil price to get traders starting to bet on action by OPEC, or at least Saudi Arabia, to cut output to put a floor under the market. But this time these hopes are coming far too soon for any prospect of real action.
NEW YORK The derailment of a Canadian Pacific Railroad train transporting crude oil in Minnesota this week underscores the policy risks inherent in delaying the Keystone XL pipeline amid unfettered growth in rail shipments of oil.
NEW YORK Logistical problems caused by power failures and navigational hazards from storm Sandy continued to roil New York Harbor on Thursday, threatening widespread delays in fuel deliveries off the New York Mercantile Exchange's futures contracts.
NEW YORK Huge logistical problems from power failures and navigational hazards roiled the massive New York Harbor oil hub in the wake of Hurricane Sandy on Thursday, threatening widespread delays in fuel deliveries off the New York Mercantile Exchange's futures contracts.
NEW YORK For years the energy story out of Canada has been exclusively about the emergence of Alberta's oil sands as a massive, if costly new source of crude.
NEW YORK Independent oil refiner Tesoro Corp is doubling its bet on California, boosting its exposure to a niche oil market where heavy regulation and geographic isolation can make for big profits but also big costs.
NEW YORK Soaring corn futures and stagnating oil prices spell disaster for the U.S. ethanol sector this summer. A repeat of the industry's financial troubles from a few years ago cannot be ruled out.
NEW YORK Amid this week's carnage in crude oil markets with Brent futures slumping to 18-month lows, bullish traders have held out hope that Saudi Arabia will bail out the market with a quick cutback in oil production. They are likely to be disappointed.
NEW YORK Saudi Arabia has cleared up any doubts about its unhappiness with oil prices above $100 a barrel but last week's OPEC meeting has done nothing to dispel speculation that the kingdom may be willing to see crude go much lower for a while.
VIENNA It is no exaggeration to say the impact of the pending U.S. and European sanctions against Iran are one of the most taboo subjects at an OPEC meeting in years.