The spill of an estimated 210,000 gallons of crude oil in South Dakota on Thursday from TransCanada's Keystone Pipeline is one of the 20 largest onshore oil or petroleum product spills since 2010.
The looming threat of a default has put the world’s largest proven oil reserves in play.
Oil rebounded more than 2 percent on Friday after falling for five straight session as a major U.S. crude pipeline was shut and traders anticipated an OPEC deal to extend curbs on production.
The head of the International Energy Agency Fatih Birol said on Thursday the United States would - in the long term - become the "undisputed leader of oil and gas production worldwide."
Oil prices ended lower again on Thursday on increased concerns about growth in U.S. production and inventories, despite expectations that major world producers will extend a supply-cut deal later this month.
Oil prices fell for a fourth session on Wednesday after the U.S. government reported an unexpected increase in crude and gasoline stockpiles, but an increase in refining runs and a drawdown in distillates helped prices bounce off session lows.
Major U.S. oil companies could face another financial setback now that Standard & Poor’s has declared Venezuela to be in “selective default”
Oil prices fell 2 percent on Tuesday, headed for a third straight daily decline, on forecasts for rising U.S. crude output and a gloomier outlook for global demand growth in a report from the International Energy Agency (IEA).
Oil prices held steady in a tight range Monday after briefly testing lower, with support from Middle East tensions and record long bets by fund managers balanced by rising U.S. production.
OPEC on Monday forecast higher demand for its oil in 2018 and said its production-cutting deal with rival producers was reducing excess oil in storage, pointing to an even tighter global market next year.
Crude was down slightly on Friday as expectations OPEC and other producers will extend their production cut agreement were offset by U.S. drillers adding the most oil rigs in a week since June, indicating output will continue to grow.
A long list of U.S. companies announced $250 billion worth of business deals in China, coinciding with President Donald Trump's visit with Chinese President Xi Jinping.
Oil prices rose nearly 1 percent on Thursday, supported by supply cuts by major exporters as well as continuing concern about political developments in Saudi Arabia.
Tortoise Capital Portfolio Manager Rob Thummel explains how the power play in Saudi Arabia impacts the energy markets.
Oil prices have finally started to gain a foothold, but the first quarter could prove a “make or break” period.
Oil prices were little changed on Wednesday as rising political tensions in the Middle East offset U.S. government data showing an increase in domestic crude production and a surprise build in stockpiles.
Saudi Arabia neared the precipice of change over the course of a weekend amid increased tensions with Iran and the momentous and unprecedented palace purge of dozens of royal officials at the hands of Crown Prince Mohammed bin Salman.
Oil settled lower on Tuesday after rising to the highest since July 2015 the previous day.
Former Gulf Oil CEO Joe Petrowski reacts to the Saudi Arabia crackdown that took place over the weekend and involved the arrest and jailing of some of the crown prince's political rivals.
The good times for U.S. oil producers won’t last for long, with the Organization of the Petroleum Exporting Countries (OPEC) forecasting in its 2017 World Oil Outlook (WOO) that U.S. tight oil output will peak in 2025.