Oil prices dove to $115 a barrel on Friday, driven lower by a huge jump in the U.S. dollar, signs of moderating demand around the world and the burgeoning belief that commodities may have peaked.
Shrugging off concerns about a sabotaged oil pipeline in Turkey, investors pulled their money out of commodities and put it back [...]

Oilfield services provider Schlumberger Ltd. reporting a nearly 13 percent jump in profit driven by robust spending among customers searching for new sources of crude and natural gas. Unless the global economy goes into the tank, Schlumberger said it expects continued brisk spending on exploration and production as energy companies try to benefit from high [...]

Austral Pacific Energy Ltd. Austral announces the results of its Cheal-A7 well which reached a total depth of 1848m on July 10th, 2008. The well intercepted 7 meters of oil-bearing sands in the MM3 Formation as prognosed at approximately 1695m MD and the MM2 sand at 1730m.
The current Cheal wells program was designed to test [...]

Oil prices finished about where they began, after jumping more than $2 earlier on reports of lower U.S. oil stockpiles and an Iranian missile test.
Light, sweet crude for August delivery rose a penny to settle at $136.05 a barrel on the New York Mercantile Exchange, but prices shifted between positive and negative territory as traders [...]

Oil prices jumped past $145 a barrel for the first time, as traders added to their bets on the commodity ahead of the long holiday weekend.
There was little good news for Americans hitting the road for the July Fourth holiday, as gas prices set their own record near $4.10 a gallon.
Light, sweet crude for August [...]

Soaring oil prices helped ensure energy stocks remained the best-performing companies in the Standard & Poor’ 500 index in the second quarter and the first half of the year.
Through Friday, energy shares as a group shot up 14.9 percent for the quarter, and are up 6.3 percent for the year to date — one of [...]

Oil prices surged past $143 a barrel for the first time and then fell back as a rising dollar prompted some investors to sell.
Crude gave back its gains after the Chicago Purchasing Managers’ Index of Midwest Manufacturing beat estimates and the dollar strengthened against the euro.
Light, sweet crude for August delivery fell 21 cents to [...]

Oil futures shot above $140 after OPEC’s president said oil prices could rise well above $150 a barrel this year and Libya said it may cut oil production.
Light, sweet crude for August delivery rose as high as $140.39 in afternoon trading on the New York Mercantile Exchange before retreating slightly to settle at $139.64, up [...]

OPEC President Chakib Khelil again said oil producers saw no need to raise supply and blamed record oil prices on factors outside the cartel’s control, such as U.S. pressure on Iran and the weak U.S. dollar.
Following talks with European Union nations, Khelil said oil states believe they are pumping enough oil to satisfy demand and [...]

Oil futures ended the day higher after spending much of the session going back and forth as traders awaited significant news to help the market break out of a trading range that has lasted for more than two weeks.
Light, sweet crude for August delivery rose 26 cents to settle at $137 a barrel on the [...]