Oil | featured news

The price of a gallon of gasoline continues to climb, rising an average of 17 cents over the past two weeks.

Crude oil rose to a seven-month high and gasoline surged after Goldman Sachs Group Inc. said prices may reach $85 by the end of the year as demand recovers and supplies shrink.

President Barack Obama arrived in Saudi Arabia for talks with King Abdullah on Wednesday on the eve of a much-anticipated speech in Cairo intended to repair America's damaged image with the Islamic world.

Stocks and the prices of oil and other commodities rose as hope for a global economic recovery grew despite GM's woes.

The U.S. price of gasoline jumped 19 cents a gallon during the past two weeks, but remains well below prices from a year ago.

The recession may have slashed demand while supplies have swelled, but oil is being hoarded as producers and investors await an economic recovery.

Oil prices hit a six-month high above $66, buoyed by falling US stockpiles and revised US first-quarter GDP figures.

Nigerian security forces said Saturday they rescued 10 hostages kidnapped this week, including six foreigners, and destroyed a key militant camp in the heart of Africa's biggest oil industry region.

Oil militants in Nigeria call for an 'all-out war' against the government, accusing military planes of bombing a village.

Oil prices rise to their highest in six months, buoyed by hopes that the worst may be over for the world economy.