Oil

The November presidential election is shaping up to have far-reaching implications for the energy industry.

The November presidential election is shaping up to have far-reaching implications for the energy industry.

British oil major BP reported a lower than expected profit for the second quarter due to weak refining margins and oil prices, prompting another cut to its 2016 investment budget to below $17 billion.

British oil major BP reported a lower than expected profit for the second quarter due to weak refining margins and oil prices, prompting another cut to its 2016 investment budget to below $17 billion.

Oil prices fell nearly 3 percent, with U.S. crude slipping to a 3-month low on Monday on rising concerns that a global glut of crude and refined products would pressure markets, delaying a long-anticipated rebalance in the market.

Oil prices fell nearly 3 percent, with U.S. crude slipping to a 3-month low on Monday on rising concerns that a global glut of crude and refined products would pressure markets, delaying a long-anticipated rebalance in the market.

The average price of gasoline has dropped 7 cents over the past three weeks to $2.22 a gallon for regular grade.

Oil prices fell 2% on Friday, with losses accelerating after the U.S. oil rig count rose for a fourth week in a row, putting crude on track for a weekly loss and dragging Brent to two-month lows.

Oil prices fell 2% on Friday, with losses accelerating after the U.S. oil rig count rose for a fourth week in a row, putting crude on track for a weekly loss and dragging Brent to two-month lows.

ConocoPhillips, one of the largest U.S. shale producers, is cutting another 6% of its workforce.

ConocoPhillips, one of the largest U.S. shale producers, is cutting another 6% of its workforce.

Oil prices moved slightly higher on Thursday after the U.S. Energy Department reported a ninth consecutive weekly drawdown of crude stocks, although an overall build in oil inventories capped gains.

Oil prices moved slightly higher on Thursday after the U.S. Energy Department reported a ninth consecutive weekly drawdown of crude stocks, although an overall build in oil inventories capped gains.

Halliburton, the oilfield services giant, says the oil market appears to be on the road to recovery.

Halliburton, the oilfield services giant, says the oil market appears to be on the road to recovery.

Halliburton, the world's No.2 oilfield services provider, posted a quarterly loss, compared with a year-earlier profit, hurt mainly by the $3.5 billion fee it paid for terminating a deal to buy Baker Hughes.

Halliburton, the world's No.2 oilfield services provider, posted a quarterly loss, compared with a year-earlier profit, hurt mainly by the $3.5 billion fee it paid for terminating a deal to buy Baker Hughes.

Oil prices edged lower on Wednesday ahead of weekly U.S. crude inventory data.

Oil prices edged lower on Wednesday ahead of weekly U.S. crude inventory data.