Weaker-than-expected consumption in Europe and China, coupled with a global supply glut, is depressing crude oil prices.
U.S. oil prices slid the most in 17 months on Tuesday, with international oil prices close behind.
Libya's acting Prime Minister Abdullah al-Thinni said the government had reached a deal with a rebel leader controlling oil ports to hand over the last two terminals and end a blockade.
Traders are betting that Iraq's oil production will fall and disrupt the market.
The North American shale boom will spread to Russia and Latin America next, the International Energy Agency expects.
U.S. retail gasoline prices will likely climb 5 cents to 10 cents and stay up for the summer.
Global oil prices are rising and could soar further as insurgents in Iraq threaten southern oil fields and export facilities, analysts say.
OPEC, the group of major oil-producing countries, tried to allay concerns that oil output would not be enough to meet rising global demand in the second half of this year.
Non-OPEC oil supply is expected to tail off in a few years, and then OPEC supply will be needed.
Lower production in Libya could topple the Middle Eastern cartel's "sweet spot" price and output target.
The U.S. government said Iran is cooperating with the international community to roll back its controversial nuclear program.
Russia's Gazprom meets more than half of Ukraine's gas demands while supplying nearly a third of Europe's gas.
After decades of turmoil, Angola is on the verge of catapulting to the top ranks of the world’s energy economy.
David Bird, an energy reporter for the Wall Street Journal, disappeared from his New Jersey home more than two months ago.
Global oil supplies have danced with record highs this year; unfortunately, it hasn't lowered crude's sky-high price.
What's more, Russia's dependence on crude sales may make it leery of further moves in Ukraine, U.S. officials hope.
Libyan rebels managed to export crude from the captured port and to avoid government forces.
The North Korean-flagged oil tanker has docked at the port for several days.
The International Energy Authority's February report says global oil supplies are increasing, but OECD stocks are declining.
China may buy more Iranian oil next year, and that would not please the U.S.
Iran's oil minister has named American and British companies as favorites to help develop and export the country’s vast oil reserves.
Geopolitics could trump supply-and-demand fundamentals in determining the price of crude oil.