“Today’s 5.4 percent crude oil price increase to $121.18 a barrel despite decreased demand and increased supply is a clear sign that speculators continue to dominate the commodities markets hurting our national economy,” said Lea Wilson, executive director of the Washington Oil Marketers Association (WOMA).
“There is absolutely no economic reason for prices to increase the [...]

Frost & Sullivan presented General Cable with the 2008 North American Frost & Sullivan Award for Growth Excellence in the Energy Cables market. The Award recognizes General Cable for serving a diverse set of customers, with wide ranging applications, on a truly global scale.
The company has achieved consistent growth in the world interconnects space – [...]

Saudi Arabia’s oil minister says OPEC’s dominant producer has no immediate plans to boost crude output because there is no need to do so.
But Minister Ali Naimi said he was “concerned about the (price) level” and suggested Saudi Arabia is ready to raise production if the kingdom perceives that basics had changed, with supply no [...]

As oil set a new record, top industry executives and a senior European government official urged the world to pull together in the face of skyrocketing energy prices, while acknowledging that costly crude is here to stay for years.
The comments to the World Petroleum Congress In Madrid, Spain, by the EU Energy Commissioner and the [...]

Northwest Pipe Company announced today its single largest order for its energy products. The Company received a $10.6 million order from a Houston-based distributor focused on serving the oil and gas industry. Approximately two thirds of the order will be put into use as gas gathering pipe in domestic gas fields. The final third will [...]

OAO Severstal, one of the world’s leading metals and mining companies, today announced that it has reached a binding agreement to purchase WCI Steel, a market leader in the production of value-added steel products based in Warren, Ohio.
According to the terms of the agreement, Severstal will acquire all outstanding equity of WCI for a total [...]

Platts, one of the world’s foremost providers of energy and metals information, today announced it is expanding its suite of spot price assessments in global metals to include steel exported from China, specifically hot-rolled coil (HRC) and concrete reinforcing bar (rebar).
“We’re pleased we can answer the steel industry’s call for a reliable source of timely, [...]

Shares of most aluminum producers rose Monday as prices for the commodity rose, offsetting a warning from a Deutsche Bank analyst.
FBR Capital Markets analyst Amir Arif said in a client note that he is “most concerned about (Pittsburgh-based Alcoa Inc.), not so much on the expected first quarter 2008 results, but on second quarter 2008 [...]