Energy | featured news

Iran's Oil Minister says his office has drawn up plans to make newly tightened sanctions against the Islamic Republic ineffective.

U.S. wholesale prices rose only slightly last month, as higher costs for food and pickup trucks offset another drop in energy prices. But overall inflation stayed mild.

The United States and China signaled a willingness on Thursday to work together on "sensitive issues" in a move to cool tensions between rival claimants to the potentially oil-rich and increasingly militarized South China Sea.

Average retail gasoline prices continue to fall in California, but the national average for a gallon of regular fuel rose for the first time in several weeks, according to the AAA Fuel Gauge Report.

King Coal is meeting its match: natural gas. Power plants fired by natural gas have set a new record by producing as much electricity in the United States as those run by coal, long the nation's dominant power producer.

Iran has reached agreements with European refiners to sell some of its oil through a private consortium, an official said on Saturday, a move designed to circumvent sanctions intended to put pressure on Tehran to halt its disputed nuclear program.

Japanese Prime Minister Yoshihiko Noda said on Saturday that the government is considering buying islands in potentially gas rich territory claimed by both Japan and China, in a move likely to anger Beijing.

A U.S. judge has ordered JPMorgan Chase & Co to explain why the court should not force the bank to turn over 25 internal emails demanded as part of an investigation into whether it manipulated electricity markets in California and the Midwest.

Iran's daily oil exports in July could fall below half the average shipped in 2011 before tough new Western sanctions stemmed the flow.

Iran's President Mahmoud Ahmadinejad said Tuesday the latest EU sanctions on the sale of Iranian oil are "the strongest" measures yet imposed on the country.