Crude oil futures leaped to a new all-time high above $120 a barrel as supply concerns grew and the U.S. dollar weakened against the euro. Retail gasoline and diesel prices eased over the weekend, although pricier oil threatens to push them higher again.
Light, sweet crude for June delivery jumped to a new trading record of [...]

World oil prices were slightly lower in Asian trade on Monday after fresh unrest in Africa’s biggest crude producer, Nigeria.
New York’s main oil futures contract, light sweet crude for June delivery, was 13 cents lower at 116.19 dollars per barrel.
The benchmark contract rallied 3.80 dollars to close at 116.32 dollars on Friday at the New [...]

Oil prices held steady Monday, supported by weekend news of an attack on a Nigerian oil installation, but with gains limited by the strengthening of the U.S. dollar.
Royal Dutch Shell PLC spokesman Precious Okolobo said Saturday that attackers hit a flow station belonging to Shell’s joint venture in southern Nigeria and that some oil production [...]

Whiting Petroleum Corporation announced the promotion of Chuck LaCouture to Vice President-Marketing of Whiting Oil and Gas Corporation, its wholly owned operating subsidiary, effective immediately. Mr. LaCouture joined Whiting in January 2002 as Manager-Marketing and Business Development. Previously, he was with Whiting’s former parent company, Alliant Energy, in a similar position beginning in February [...]

The Federal Trade Commission plans to come up with rules by the end of the year to enforce a new law against price manipulation and deception in oil-trading markets.
The FTC announced that has taken the first step, seeking public comments, toward developing a regulation on oil industry price manipulation.
As part of a broad energy bill [...]

Chevron Corp. reported the most profitable first quarter in its history, earning $5.17 billion, or $2.48 per share, in the first three months of the year, up 10 percent from $4.72 billion, or $2.18 per share, a year earlier.
The performance beat the average earnings estimate of $2.41 per share among analysts polled by Thomson Financial.
But [...]

For the first time in 18 days, retail gasoline prices fell — if only slightly. Some analysts think pump prices may be near or at a peak for the year. Oil futures, meanwhile, soared after Turkish airstrikes on Kurdish rebel bases in Iraq injected some supply concerns into the market and the Labor Department’s employment [...]