OPEC

Brent crude rose $2 on Wednesday after the Federal Reserve's promise to extend near-zero interest rates for two more years weighed on the dollar and helped reverse a steep slump in oil.

OPEC, source of more than a third of the world's oil, cut its forecast for global oil demand growth this year as a worsening economic outlook curbs consumption in developed economies.

In the states, oil has been the stuff of riches and the glamour energy form. The reality is, however, in the 21st century the preferred and superior U.S. energy form could very well be domestic natural gas.

Several major auto makers on Friday embraced the Obama administration's proposal to push the industry further away from once-dominant gas guzzlers to more lean and efficient vehicles.

The top after-market NASDAQ Stock Market gainers are: Radiant Systems, Clean Energy Fuels, Idenix Pharmaceuticals, Micromet, and Nasdaq OMX Group. The top after-market NASDAQ Stock Market losers are: Microchip Technology, Novellus Systems, China Gerui Advanced Materials Group, KLA-Tencor, and Intersil.

Americans, it’s been said, are a resilient, can-do bunch. Well, it looks like U.S. motorists will have to become even more resilient, as the days of $2-something per gallon gasoline appear to be gone.

The creation of a new Iraqi National Oil Company to run the OPEC member's energy sector is not essential and might confuse the work of the oil ministry, Iraq's oil minister said on Sunday.

Oil futures are plunging as the International Energy Agency (IEA) said that the U.S. and 27 other nations will release a total of 60-million barrels of oil from strategic reserves.

Saudi Arabia may be forced to use its oil policy and enormous economic clout as a way to foil Iran’s nuclear power program and regional ambitions, according to a report in The Wall Street Journal.

Oil prices fell on Friday as Saudi Arabia reportedly followed through on its threat to defy OPEC and unilaterally increase oil production.

An increase in crude output by Saudi Arabia will not change market conditions as demand is for lighter oil than it provides, Iran's OPEC governor was on Saturday quoted as saying, reiterating Tehran's stance that there is no need to boost production.

OPEC, which failed to reach agreement on raising production at a meeting this week, on Friday forecast a tightening world oil market in the rest of 2011, underscoring the need for more supply to meet rising demand.

The Gold Price continued to hold steady Thursday morning, trading in a tight range around $1536 per ounce - 2.6% off last month's spot market all-time high - while stocks and commodities gained ahead of UK and Eurozone interest rate announcements.

On Wednesday, an OPEC meeting ended with a failure to reach any agreement to increase oil production. Oil prices immediate jumped due to supply shortage concerns.

Economics, rather than politics was behind the collapse of this week's OPEC talks and the group as a whole would act if it grew worried about oil supplies running short, a top OPEC official said on Thursday.

OPEC just had a meeting that failed to produce any agreement. Saudi Arabia, the biggest producer of the cartel, admitted it was one of the worst meetings in OPEC history.

OPEC talks broke down in acrimony Wednesday without an agreement to raise output after Saudi Arabia failed to convince the oil cartel to lift production.

U.S. stocks slipped for the sixth straight day on Wednesday after Federal Reserve Chairman Ben Bernanke's assessment of the economy kept investors worried about the recovery.

U.S. stocks slipped for the sixth straight day on Wednesday after Federal Reserve Chairman Ben Bernanke's assessment of the economy kept investors worried about the recovery.

Stocks mostly fell on Wednesday in a sixth day of losses as investors worried about the bleak economic outlook and technical market indicators pointed to more weakness ahead.

OPEC talks broke down in acrimony on Wednesday without an agreement to raise output after Saudi Arabia failed to convince the cartel to lift production.