Are record gas prices on their way to Western New York? The likelihood has increased because of this week’s spike in oil prices.
World markets pushed oil up to a record $100.88 a barrel on Tuesday and briefly touched $102 Wednesday, and gasoline responded by moving higher in the Buffalo area.
Gas was selling for an [...]

The chief financial officer of oil and natural gas producer Parallel Petroleum Corp. sold 10,863 shares of common stock, according to a Securities and Exchange Commission filing.
In a Form 4 filed with the SEC Tuesday, Steven D. Foster reported he sold the shares Friday for $17.65.

As buyers continue to be reluctant to commit to purchases, uranium spot prices dipped again last week – down US$3 to US$120 per pound, according to TradeTech’s indicator.
Customers are expecting further downward price movement due to the current supply overhang, the firm said in the Aug. 3 issue of Nuclear Market Review.
The U.S. Department [...]

Aegean Marine Petroleum Network Inc., an international marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea, today announced that it has taken delivery of the Milos, a newly built, 4,600 dwt double-hull bunkering tanker, from Fujiian Southeast Shipyard in China. The Milos, which [...]

Japan is feeling the heat over sharply rising prices for non-ferrous metals, especially rare metals, which are used in a wide range of high-technology products.
Global competition is intensifying for non-ferrous metals, including copper and lead, as well as for such energy resources as oil, natural gas and uranium. Prices have risen sharply in recent years [...]

Shanghai copper fell on concern that overseas purchases by China, the world’s biggest consumer of the metal, may slow following a surge in imports this year and growing domestic stockpiles.
China’s copper imports rose 61 percent to 1.1 million metric tons from January to April from year-ago levels. Shanghai Futures Exchange stockpiles are at their highest [...]

The UK’s Drax Group, the operator of Britain’s largest coal-fired power plant, has halted purchases of South African and Russian coal from January 2008 in order to stay within the emission limits imposed from that date.

Arena Resources, Inc. has purchased its second drilling rig. The rig will be completely refurbished and erected on site at one of the Company’s Fuhrman Mascho (“Fuhrman Mascho”) drill sites in Andrews County, Texas. The 600 horse power drilling rig, capable of drilling to a depth of 9,000 feet, is expected to be in operation [...]

Shipments of nickel laterite ore from the southern Philippines to China more than tripled in April from a year earlier as Chinese companies sought alternative supplies.
Exports rose to 492,002 tons from 144,547 tons, according to Bureau of Customs data obtained yesterday. The southern Philippines mines most of the nation’s low-grade ore, which competes with easier-to-process [...]

The president and chief executive of natural gas and oil explorer Ultra Petroleum Corp. exercised options for 25,000 shares of common stock, according to a Securities and Exchange Commission filing.
In a Form 4 filed with the SEC Wednesday, Michael D. Watford reported he exercised the options Monday for 46 cents apiece and then sold 15,726 [...]