International Business News - oil http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Gold futures fell the most in six weeks as crude oil prices dropped and a stronger dollar lowered the investment appeal for the metal as a hedge against inflation. http://www.ibtimes.com/articles/20080723/gold-precious-metals-oil-dollar-commodities.htm Wed, 23 Jul 2008 17:26:49 EDT As prices for transportation fuels continue to rise, interest has increased in EIA’s fuel pump diagrams showing the components of retail gasoline and distillate prices that help to explain the price changes. The fuel pump graphics http://www.ibtimes.com/articles/20080723/this-week-in-petroleum-jul-23.htm Wed, 23 Jul 2008 15:50:16 EDT Gold experienced a second day of heavy liquidations, following yesterday oil-led and hawkish Fed-induced rout. Significant losses in the euro were seen following reports of steep drops in Eurozone industrial orders and they helped http://www.ibtimes.com/articles/20080723/crb-commodities-ring-bearish.htm Wed, 23 Jul 2008 15:25:04 EDT Hurricane Dolly, which made landfall near South Padre Island in Texas on Wednesday, had interrupted a small amount of oil and natural gas production, mostly in the western Gulf of Mexico. http://www.ibtimes.com/articles/20080723/some-oil-gas-production-shut-in-by-dolly.htm Wed, 23 Jul 2008 15:08:43 EDT Gold prices fell further overnight, following yesterday oil-led and hawkish Fed-induced rout. Further losses in the euro following reports of steep drops in Eurozone industrial orders helped the greenback climb to near 72.61 on the http://www.ibtimes.com/articles/20080723/name-that-altered-tune.htm Wed, 23 Jul 2008 12:53:09 EDT Crude-oil inventories fell last week but gasoline stockpiles rose more than expected, according to government data released Wednesday. For the week ended July 18 crude-oil inventories fell by 1.6 million barrels to 295.3 million barrels, the Energy Department's Energy Information Administration said in its weekly report. http://www.ibtimes.com/articles/20080723/crude-oil-stockpiles-fell-last-week-gasoline-rose.htm Wed, 23 Jul 2008 11:09:28 EDT Nigeria's main militant group threatened Wednesday to destroy the nation's major oil pipelines within 30 days to counter allegations it had struck a $12 million deal with the government to protect them. http://www.ibtimes.com/articles/20080723/militants-threaten-nigerias-main-oil-pipelines.htm Wed, 23 Jul 2008 13:18:09 EDT The Bush administration on Tuesday proposed charging energy companies wanting to squeeze oil out of vast shale deposits in the West lower royalties than they pay for drilling on other federal lands, including offshore in the Gulf of Mexico and Alaska. http://www.ibtimes.com/articles/20080723/interior-proposes-lower-royalties-on-oil-shale.htm Wed, 23 Jul 2008 08:59:10 EDT Oil prices shed nearly $4 Wednesday, tumbling below $125 a barrel for the first time since early June on growing fears that high prices and the weak economy are destroying demand. http://www.ibtimes.com/articles/20080723/oil-extends-decline-drops-below-128.htm Wed, 23 Jul 2008 16:37:31 EDT Gold futures ended the day lower as a drop in crude oil lowered the investment appeal of the precious metal while the U.S. dollar gained against major currencies. http://www.ibtimes.com/articles/20080722/gold-oil-dollar-precious-metals.htm Tue, 22 Jul 2008 17:50:36 EDT With Tropical Storm Dolly moving toward the lower Texas coast, petroleum companies were evacuating production platforms and drilling rigs in the Gulf of Mexico on Tuesday. http://www.ibtimes.com/articles/20080722/some-offshore-oil-staff-evacuated-as-dolly-nears.htm Tue, 22 Jul 2008 15:58:14 EDT Italian energy giant Eni SpA says it has repaired an oil pipeline blown up by saboteurs last week in Nigeria's southern oil region. A statement released on the company's Web site says the Agip-owned pipeline has been restored. It was not immediately clear if production had resumed, and company officials could not be reached for comment Tuesday. http://www.ibtimes.com/articles/20080722/eni-says-sabotaged-nigerian-oil-pipeline-repaired.htm Tue, 22 Jul 2008 15:26:53 EDT Gold's early morning progress was rudely interrupted by hawkish dollar comments coming from Messrs. Paulson and Plosser. The P&P duo's unusually forceful dollar-defensive statements had the greenback surge 0.61 http://www.ibtimes.com/articles/20080722/dr-kellner-take-two-policies-and-call-me-next-year.htm Tue, 22 Jul 2008 15:25:46 EDT A federal task force set up to examine the sharp run-up in oil prices says in an interim report that fundamental supply-and-demand factors are most likely to blame. http://www.ibtimes.com/articles/20080722/task-force-blames-supply-and-demand-for-oils-rise.htm Tue, 22 Jul 2008 15:04:16 EDT Shares of oil and gas-related companies dropped Tuesday afternoon as crude and natural gas prices slid on the New York Mercantile Exchange. Light, sweet crude for August delivery fell $4.89 to $126.15, though earlier the contract dropped as low as $125.63. Prices had flirted with the $150 mark earlier this month. http://www.ibtimes.com/articles/20080722/sector-snap-oil-and-gas-shares-slide.htm Tue, 22 Jul 2008 14:27:02 EDT Dogged by additional financial market worries the dollar fell to 71.88 on the index and traded near 1.593 against the euro. This was enough of a slide to prompt fresh buying from the gold trading crowd - a group already showing http://www.ibtimes.com/articles/20080722/wa-wa-woes.htm Tue, 22 Jul 2008 13:46:46 EDT The Bush administration wants to set the stage before leaving office for developing oil shale, rocky deposits in the western U.S. that could eventually yield 800 billion barrels of oil, according to government estimates. http://www.ibtimes.com/articles/20080722/feds-to-propose-rules-for-squeezing-oil-from-rock.htm Tue, 22 Jul 2008 08:25:01 EDT As giant oil companies like Exxon Mobil and ConocoPhillips get set to report what will probably be another round of eye-popping quarterly profits, just where is all that money going? http://www.ibtimes.com/data/articleimgs/95531-oil-profits.jpg http://www.ibtimes.com/articles/20080722/ap-impact-big-oil-profits-steered-to-investors.htm http://www.ibtimes.com/articles/20080722/ap-impact-big-oil-profits-steered-to-investors.htm Tue, 22 Jul 2008 07:10:50 EDT Oil prices tumbled more than $3 a barrel Tuesday as Tropical Storm Dolly grew increasingly unlikely to threaten supply, giving traders one less reason to buy as a strengthening dollar helped keep prices in check. http://www.ibtimes.com/data/articleimgs/95465-oil-prices.jpg http://www.ibtimes.com/articles/20080722/oil-falls-below-131-a-barrel-in-asia.htm http://www.ibtimes.com/articles/20080722/oil-falls-below-131-a-barrel-in-asia.htm Tue, 22 Jul 2008 17:03:45 EDT Refining losses for China's top two oil companies widened 47.9 percent to $850 million in the first half due to government controls that limit their ability to pass on high crude costs to consumers, an industry association said Tuesday. http://www.ibtimes.com/articles/20080722/china-refinery-losses-widen-to-us-850m.htm Tue, 22 Jul 2008 08:19:27 EDT