Oil Spill

Oil prices rose to $75 a barrel on Monday as support from a weaker dollar, higher U.S. stocks, and an oil spill in Texas which limited crude oil deliveries to some U.S. refiners.

Oil prices rose to $75 a barrel on Monday as support from a weaker dollar, higher U.S. stocks, and an oil spill in Texas which limited crude oil deliveries to some U.S. refiners.

federal appeals court on Monday ordered Exxon Mobil Corp to pay $507.5 million in punitive damages stemming from the 1989 Exxon Valdez oil spill off Alaska, plus 5.9 percent interest running from the 1996 trial judgment, the opinion said.

Leaders of California's scenic Santa Barbara County, site of a 1969 oil spill that galvanized the modern environmental movement, voted on Tuesday to reverse a decision backing new offshore energy development.

Russian rescue helicopters and ships searched for five missing seamen on Monday after a storm in the northern mouth of the Black Sea, while oil spilt from a sunken tanker coated birds in a black sludge

Oil major BP will pay $373 million to settle U.S. charges stemming from a deadly Texas refinery explosion and an Alaska oil spill, as well as allegations it manipulated propane markets, the government said on Thursday. The settlement comes as the company seeks to set a new course with a restructuring aimed at improving its record on safety and the environment.

British Petroleum PLC, announced late Sunday that it would shut off its biggest U.S. oil field due to corrosive oil pipes.