Oil

Oil prices slipped on Wednesday on doubts that promised production cuts by OPEC and Russia would be deep enough to end a supply overhang that has weighed on the markets for more than two years.

Royal Dutch Shell will agree on Wednesday to develop a major Iranian oil field, an Iranian oil-ministry spokeswoman said.

Royal Dutch Shell will agree on Wednesday to develop a major Iranian oil field, an Iranian oil-ministry spokeswoman said.

Wall Street climbed on Tuesday as telecom stalwarts AT&T and Verizon gained and bank shares added to their torrid post-election rally, helping the Dow set another record closing high.

Wall Street climbed on Tuesday as telecom stalwarts AT&T and Verizon gained and bank shares added to their torrid post-election rally, helping the Dow set another record closing high.

Oil prices slipped off one-year highs Tuesday with OPEC skeptics taking control of the market again after several days of surging prices because of cutbacks promised by the world's oil exporters.

Oil prices slipped off one-year highs Tuesday with OPEC skeptics taking control of the market again after several days of surging prices because of cutbacks promised by the world's oil exporters.

How OPEC taught U.S. energy companies to fend for themselves.

How OPEC taught U.S. energy companies to fend for themselves.

Global oil prices slipped on Tuesday as data showed crude output rose in most major export regions despite plans by OPEC and Russia to cut production.

Global oil prices slipped on Tuesday as data showed crude output rose in most major export regions despite plans by OPEC and Russia to cut production.

U.S. crude futures strengthened Monday before retreating in post-settlement trade as the market lost confidence OPEC cuts would be sufficient to reduce oversupply given increased U.S. drilling.

U.S. crude futures strengthened Monday before retreating in post-settlement trade as the market lost confidence OPEC cuts would be sufficient to reduce oversupply given increased U.S. drilling.

Crude rose above $55 a barrel to hit a 16-month high on Monday as rising prospects of a tightening market after last week's OPEC landmark deal to cut production has given speculators impetus to increase bets on higher prices.

Crude rose above $55 a barrel to hit a 16-month high on Monday as rising prospects of a tightening market after last week's OPEC landmark deal to cut production has given speculators impetus to increase bets on higher prices.

WTI crude oil traded up 50 cents, also 1 percent, at $52.18 a barrel.

WTI crude oil traded up 50 cents, also 1 percent, at $52.18 a barrel.

Assistant Secretary for Civil Works Jo-Ellen Darcy said in a news release that her decision was based on the need to "explore alternate routes" for the pipeline's crossing.