US Oil Settles Down $1.30, or 2.18%, at $58.33 a Barrel

Crude futures hit three-week lows on Monday as Greece shut its banks and imposed capital controls, causing widespread risk aversion, while Iran looked likely to extend nuclear negotiations with the West to export more of its oil into an oversupplied market. The dollar surged against the euro to early June highs on worries over the […]

Oil Turns Higher, Holding Ground Above $60

Oil futures made a sudden turn higher Tuesday, with analysts attributing the bounce to technical price triggers, expectations for a weekly decline in U.S. crude supplies and a U.S. plan to help Europe defend against security threats, which highlighted U.S. tensions with Russia. August crude CLQ5, +1.37%  tacked on 56 cents, or 0.9%, to $60.94 […]

Energy Industry Helps Cut Emissions Near 20-Year Low

While vehicle miles traveled have nearly doubled since 1980, emissions are drastically down. The combination of cleaner fuels, modernized equipment and facilities, plus more efficient vehicles have cut emissions by 62% over the same period according to a recent statement from the American Petroleum Institute. Ozone concentration has dropped 18% since 2000 alone. A major […]

Billions in Infrastructure Needed to Meet U.S. Energy Needs

According to a recent report by ICF International, $641 billion in delivery and storage infrastructure is needed in the next 20-25 years to meet the demand of the growing North American energy market. Nearly half of that sum is needed to finance the estimated 35,000 miles of pipelines and 303,000 miles of gas gathering lines […]

Oil Scores Biggest One-Day Rally In A Month

Oil futures climbed on Thursday, with the U.S. benchmark scoring its biggest rally in a month as disappointing manufacturing data from China and the eurozone boosted prospects for economic stimulus measures, which could help increase energy demand. News of a third straight weekly decline in U.S. crude inventories and tensions in the Middle East continued […]

Is Energy Independence in the Future for the U.S.?

As recently as a couple of years ago, many politicians and other members of the chattering class were saying we couldn’t drill our way to energy independence. But the face of energy production in the U.S. has changed dramatically in the last two years, and today most of those people are snacking on their own […]

US Crude Settles Down 25 Cents At $60.50 Per Barrel

U.S. oil futures closed down 25 cents at $60.50 a barrel on Wednesday despite crude stockpiles slipping for a second straight week, but traders and analysts said inventories were still hefty for this time of year and could undercut the market’s advance. Crude futures have risen between 20 and 25 percent over the past six […]

U.S. Oil Hits Five-Month High As Dollar Weakens

U.S. crude oil hit a five-month high on Thursday as the dollar slipped to its lowest since February and as more evidence emerged of a gradual balancing of the U.S. domestic market. The U.S. currency fell to a two-month low against a basket of currencies early on Thursday as the euro and yen rallied, making […]

The Benefits of Fracking

Lobbyists have made sure we get the message about how bad fracking is for the planet and everything on it. Alarmist and sensationalized accounts of drilling-related woes abound, with little concern for accuracy or exaggeration. But what about the benefits of fracking? Is it possible that fracking is actually good for the environment and economy? […]

Oil Jumps On Only Modest U.S. Crude Stock Build

Crude oil prices rose on Wednesday after news U.S. crude stocks increased less than expected last week and inventories at the oil hub at Cushing, Oklahoma, declined for the first time since November, suggesting an oil glut may be beginning to ease. U.S. crude inventories USOILC=ECI rose 1.9 million barrels last week, compared with analysts’ […]