Oil

The average price of gasoline has dropped 7 cents over the past three weeks to $2.29 a gallon for regular grade.

The average price of gasoline has dropped 7 cents over the past three weeks to $2.29 a gallon for regular grade.

Crude prices bounced back on Friday from two-month lows hit in the previous session.

Crude prices bounced back on Friday from two-month lows hit in the previous session.

Crude-oil prices dropped Thursday on growing concerns that a glut of gasoline is due to persist despite strong summertime driving demand.

Oil prices fell 5 percent to two-month lows on Thursday after the U.S. government reported a weekly crude draw within analysts' forecasts, disappointing market bulls who had expected larger declines.

Oil prices fell 5 percent to two-month lows on Thursday after the U.S. government reported a weekly crude draw within analysts' forecasts, disappointing market bulls who had expected larger declines.

Oil prices fell Wednesday after weekly U.S. inventory data showed a surprise drop in gasoline demand and record-high stockpiles of crude oil and petroleum products.  

Oil prices trimmed early gains on Friday on a report that Iran would not participate in a possible deal between OPEC and other producing countries to trim output.

Hess deepened its loss in its fourth quarter amid big drops in energy prices.

Oil prices rose above $30 a barrel Tuesday as traders speculated that large producers might be more willing to cut production, which could alleviate the global glut of crude.

A bedrock belief among oil forecasters has been that China's voracious appetite for fossil fuels would stoke global energy demand for decades to come. That assumption now appears increasingly shaky.

Southwestern Energy announced a workforce-reduction plan that will lay off or reduce the roles of about 45% of its employees. Move is expected to cut annual costs by $150 million to $175 million.

Royal Dutch Shell profit fell by as much as 50% in the fourth quarter, illustrating how the slump in oil prices is playing havoc with the performance of the oil group.

The selloff in oil prices accelerated Wednesday, intensifying a slide in global financial markets as investors worried that oil's relentless downdraft signaled global economic gloom.

The prospect of Iranian oil adding to the global flood of crude pushed prices further down on Monday, with Brent crude touching its lowest level since 2003.

U.S. crude prices continued to slide Monday, falling more than 1% to below $29 per barrel.

Oil prices remained below $30 a barrel Monday but the Organization of the Petroleum Exporting Countries is optimistic the market will start to rebalance itself this year.

J.P. Morgan Chase & Co. expects to further build reserves related to potential energy losses in the first quarter as the prolonged decline in oil prices continues to hit U.S. banks.

U.S. crude traded below $31 per barrel as a record build in U.S. crude stocks stoked concerns about global oversupply.