Oil | featured news

Somali pirates seized a tanker carrying crude oil from Saudi Arabia to the United States in the increasingly dangerous waters off East Africa, an official said Monday, an attack that could pose a huge environmental or security threat to the region....

A lower dollar appears to be boosting the U.S. economy only gradually, with higher prices on imported oil helping outweigh the benefit of cheaper American exports....

Stocks climbed, led by the materials and energy sectors as commodities prices rose and the dollar fell.

Though it has resisted the slump better than most oil companies, Exxon’s profit fell 68 percent in the quarter.

The U.S. Coast Guard said Wednesday it was responding to a tanker collision in the Gulf of Mexico 40 miles offshore Texas, which resulted in an 18,000 gallon oil spill.

Nigeria reportedly plans to give 10% of oil revenues to people in the Niger Delta, a key demand of militants there.

There is a "significant risk" that global production of conventional oil could "peak" and decline by 2020, a report suggests.

The husband of former GOP vice presidential candidate Sarah Palin has quit his oil field job on the North Slope. Todd Palin's resignation as a production operator for oil giant BP PLC comes almost two months after his wife stepped down as Alaska governor and shortly before the release of her highly anticipated memoir in a deal rumored to be worth millions....

Chevron Chairman and Chief Executive David J. O'Reilly will retire after a decade at the helm of the oil company. He will be succeeded by Vice Chairman John S. Watson.

The average retail price for gasoline dipped below $2.50 a gallon for the first time in two months Monday as swelling oil supplies and slumping demand overshadowed even a fire at a major U.S. refinery.