Oil prices rose after Saudi Arabia’s modest production increase failed to push traders to sell.
Light, sweet crude for August delivery rose $1.38 to settle at $136.74 a barrel on the New York Mercantile Exchange.
Retail gas prices inched lower overnight but appear unlikely to change much as long as oil prices remain stuck in their recent [...]

China’s National Development and Reform Commission said prices of gasoline and diesel oil will rise by 1,000 yuan ($145) per ton to 6,980 yuan ($1,015) and 6,520 yuan ($949), or 16 percent and 18 percent, respectively.
The government hiked fuel prices by about 11 percent in November but kept them frozen at that level, seeking to [...]

Oil prices dropped sharply after China said it will raise fuel prices, a move that could dampen its booming oil consumption.
Crude-oil prices also were given a downward push by the Iraqi Oil Ministry’s announcement that it is close to signing oil service deals with several major Western oil companies in an effort to boost crude [...]

Oil prices settled higher, rebounding from earlier losses on reports that Nigerian oil workers are about to strike, and investors focused on a surprise decline in gasoline inventories last week.
Retail gas prices slipped slightly for a second day, a sign that falling demand may be affecting prices and that prices at the pump may have [...]

Gasoline demand increased 2.4 percent last week when compared with the previous week, according to a survey by MasterCard SpendingPulse.
Compared with the same week last year, demand fell 3.2 percent. The survey has shown eight consecutive weeks of year-over-year declines in weekly demand as gas prices continue to climb.
The average retail price for a gallon [...]

Crude oil futures swung wildly, rising to a record and then tumbling as investors wrestled with whether they should put stock in Saudi Arabia’s promise to boost production. Retail gas prices rose to a record $4.08 a gallon.
Light, sweet crude for July delivery fell 25 cents to settle at $134.61 on the New York Mercantile [...]

Striker Oil & Gas, Inc. (OTCBB:SOIS) continues to build upon the investments made in 2007 for acquiring and developing new properties. We have experienced an increase in oil and gas production and reserves year to year from 2007 to 2008. We continue to implement our drilling program during 2008 as we continue our strategy to [...]

The Energy Department’s Energy Information Administration said in its weekly report that natural gas inventories held in underground storage in the lower 48 states rose by 80 billion cubic feet to nearly 1.89 trillion cubic feet for the week ending June 6.
The inventory level was slightly below the five-year average of about 1.91 trillion [...]

Oil prices rebounded sharply from a dip below $132 a barrel, ending higher Thursday in another volatile session fueled by a rising dollar and concerns about supplies. Gas prices reached new record at the pump, rising to a national average of $4.06 a gallon, and are likely to keep climbing.
Light, sweet crude for July [...]

Oil prices took off again, soaring as crude’s biggest drivers — a weak dollar and supply concerns — brought buyers back in force. At the pump, gas prices rose to a new record over $4.05 a gallon.
Light, sweet crude rose $5.07 to settle at $136.38 a barrel on the New York Mercantile Exchange after earlier [...]