Oil prices fell to the $122 level, after the Energy Department said fuel inventories rose more than expected, indicating slowing demand.
Light, sweet crude for July delivery fell $2.01 to settle at $122.30 barrel on the New York Mercantile Exchange. Earlier it dropped as low as $121.84. It was oil’s lowest settlement since May 6. July [...]

The CEO of France’s Total SA says consumers should get used high oil prices, seeing no letup in high prices any time soon.
“The price of hydrocarbons will stay high for a long time,” said Christophe de Margerie, adding, “There will not be any more oil at the end of this century” than there is now.
With [...]

Oil prices fell sharply, dropping below $124 a barrel, as demand concerns grew and Federal Reserve Chairman Ben Bernanke indicated that more interest-rate cuts are unlikely. Bernanke’s comments sent the dollar higher and raised questions about the chances of oil reaching new highs in the short term.
Light, sweet crude for July delivery fell $3.45 to [...]

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 [...]

Gasoline held steady near an average $3.98 a gallon at the pump, as oil prices rose modestly after an OPEC official again said there’s no need for the cartel to pump more oil and rough weather closed Mexican oil ports.
The national average price of a gallon of regular gas was unchanged at $3.975, according to [...]

Refining stocks rose as investors took a fresh look at the sector after a Deutsche Bank analyst raised his rating on Holly Corp. and Tesoro Corp.
Analyst Paul Sankey hiked his ratings on Holly and Tesoro to “Hold” from “Sell.” He upgraded the stocks because they were relatively cheap, not because of any major change by [...]

Oil prices fell sharply, even though the Energy Department reported unexpected declines in crude oil supplies last week. A stronger dollar and concerns about gas demand also weighed on prices.
Light, sweet crude for July delivery fell $4.41 to settle at $126.62 a barrel on the New York Mercantile Exchange, its lowest settlement in two weeks [...]

Shares of oil refiners fell, as concern grew among analysts and investors that high gasoline pump prices are putting a big crimp in fuel demand.
In a note to investors, Lehman Brothers analyst Paul Cheng cited fresh data from the Department of Energy and the Federal Highway Administration as further evidence to support his bearish view [...]

Indonesian state coal miner PT Bukit Asam Tbk expects its coal export prices to rise by at least 45 percent this year, in line with rising global prices and strong demand, a company official said on Thursday.
Bukit Asam — the smallest of Indonesia’s three listed coal miners — sold coal in the overseas market at [...]

Majescor Resources Inc. is pleased to provide supplementary data on its significant uranium drill intersection at its 100%-owned Lac Mantouchiche uranium prospect located on the Mistassini property, in the Otish Mountains of Quebec (uranium rights under option to Strateco Resources Inc.; 721 claims, 384 km2). Based on recently received additional core assays, the Lac Mantouchiche [...]