Oil | featured news

Crude-oil futures continued Friday's slide on growing fears that the U.S. is heading back into recession.

The island nation of Cuba is scrambling to secure access to what it believe to be about 5 billion barrels of oil lying deep under the ocean off its northern coast. A massive drilling rig is en route to Cuba and plans to start drilling in a matter of months. Meanwhile, the United States government ...

The European Union on Friday imposed an embargo on oil imports from Syria as security forces in the country surrounded mosques in rebellious cities to prevent worshippers from pouring into the streets for anti-government rallies.

Russian law enforcement officers raided the Russian offices of oil giant BP, the company said Wednesday, blasting what it called "illegal" interference in BP's work.

Exxon Mobil won a highly coveted prize in the global petroleum industry on Tuesday by striking an agreement to explore for oil in a Russian sector of the Arctic Ocean that is opening for drilling even as Alaskan waters ...

The imminent end of a seven-month civil war in Libya holds the promise of restoring oil production and pushing prices lower. But rebel forces face a number of obstacles.

A new oil sheen was spotted in the Gulf of Mexico, although energy company BP said Thursday the discovery had nothing to do with its operations and was far from the site of its disaster-hit Macondo well.

Investors seem to think you want an iPad more than oil, as Apple Inc. became the most valuable company in the United States, surpassing Exxon Mobil Corp. on Wednesday.

Chevron reported a 51% rise in second-quarter earnings as the second-largest U.S. oil company benefited from high crude prices and stronger refining margins.

Oil companies with off-shore platforms in the Gulf of Mexico are taking precautions amid threatening storm forecasts for the area around Mexico's Yucatan Peninsula, including the chance of a tropical cyclone.