It is just reported by the media that A Delaware bankruptcy court judge will wait until Tuesday to decide whether SemGroup LP can receive a $250 million loan package that would keep it operational a little while longer.
Judge Brendan L. Shannon decided on Thursday he would delay ruling on the Tulsa company’s request for debtor-in-possession [...]

On Capitol Hill, Senate Democrats pushed for the government to take some of the billions of dollars in profits made by the five biggest U.S. oil companies. But the move was blocked by Republicans, who also thwarted a Democratic proposal to give the government greater power to address oil market speculation that some argue has [...]

The federal government formed an interagency task force to assess developments in oil and other commodity markets.
It is made up of staff from the Commodity Futures Trading Commission, the Federal Reserve, the Securities and Exchange Commission, and the departments of Treasury, Energy and Agriculture. The task force will examine oil supply and demand factors, investor [...]

Billionaire financier George Soros told a Senate hearing that growth of funds designed to mimic the price of crude oil and other energy futures remind him of a similar craze that brought on the 1987 stock market crash.
The surge in popularity of commodity index funds is “intellectually unsound … and distinctly harmful in its economic [...]

Federal regulators are six months into a wide-ranging investigation of U.S. oil markets, with a focus on possible price manipulation.
The Commodity Futures Trading Commission on Thursday said it started the probe in December and took the unusual step of publicizing it “because of today’s unprecedented market conditions.”
Crude prices have risen more than 42 percent since [...]

Retail gas prices rose one cent Friday to a new national average over $3.96 a gallon, putting them on a course to hit $4 by early next week. Oil futures settled higher after trading in a narrow range.
Light sweet crude for July delivery rose 73 cents to settle at $127.35 a barrel.
At the pump, gas [...]

Federal regulators are six months into a wide-ranging investigation of U.S. oil markets, with a focus on possible price manipulation.
The Commodity Futures Trading Commission said Thursday it started the probe in December and took the unusual step of publicizing it “because of today’s unprecedented market conditions.”
The commission said details of the investigation remain confidential, but [...]

UBS Investment Research raised its price forecast for West Texas crude and Brent “a lot.” UBS now expects West Texas crude to average $115 a barrel this year, $120 in 2009 and $116 in 2010 — increases of 32 percent, 54 percent and 53 percent above its previous outlook.
UBS sees Brent crude at $113.50 a [...]

Goldman Sachs commodities analysts raised their forecast for the average price of West Texas crude in the second half of 2008 by $34 to $141 a barrel.
“The current oil market is experiencing a structural repricing much like it did in 2004-2005. After remaining stable for more than two years, the longdated oil price (five-year forward) [...]

The price of crude oil struck a record high 126.40 dollars a barrel on Monday amid tensions in the Middle East and ongoing supply fears in Nigeria, traders said.
New York crude beat its all-time peak of 126.27 dollars, reached last Friday.
Later Monday, New York’s main oil futures contract, light sweet crude for June delivery, stood [...]